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Simple Interest - Aptitude Questions and Answers - RejinpaulPlacement




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22.
What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum ? [C.B.I 1997]
Answer & Solution
Answer: c) Rs. 120

Solution:   Let the present worth be Rs. x.
Then, S.I. = Rs. (132 - x)

(x * 5 * 2)/100 = 132 - x
=> 10x = 13200 - 100x
=> 110x = 13200
=> x = 120
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23.
A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum? [NABARD. 2002]
Answer & Solution
Answer: d) Rs. 8925

Solution:   Principal = Rs. [(100 * 4016.25)/(9 * 5)]
= Rs. (401625/45)
= Rs. 8925.
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24.
The simple interest at x % for x years will be Rs. x on a sum of:
Answer & Solution
Answer: b) Rs. (100/x)

Solution:   Sum = (100 * S.I)/(R * T)
= Rs. (100 * x)/(x * x)
= Rs. (100/x)
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25.
Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4 %, what amount will Rs. 800 become in 3 years? [Bank P.O 2000]
Answer & Solution
Answer: c) Rs. 1052

Solution:   S.I. = Rs. (956 - 800) = Rs. 156.

Rate = (100 * 156)/(800 * 3) = % = 6 1/2 %

New rate = [6 1/2 + 4]% = 10 1/2 %.

New S.I. = Rs. [800 * (21/2) * (3/100)] = Rs. 252.

New amount = Rs. (800 + 252) = Rs. 1052.
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26.
A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2 % more, how much more interest would it have earned? [Bank P.O. 2003]
Answer & Solution
Answer: d) Cannot be determined

Solution:   We need to know the S.I., principal and time to find the rate. Since the principal is not given, so data is inadequate.
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27.
In how many years, Rs. 150 will produce the same interest @ 8 % as Rs. 800 produce in 3 years @ 4   1/2 %? [R.B.B. 2001]
Answer & Solution
Answer: c) 9

Solution:   P = Rs. 800, R = 4   1/2 %, T = 3 years. Then,

S.I. = Rs. [800 * (9/2) * (3/100)] = Rs. 108.

Now, P = Rs. 150, S.I. = Rs. 108, R = 8%

Time = (100 * 108)/(150 * 8) years = 9 years
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28.
The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of interest the same amount of interest can be received on the same sum after 5 years?
Answer & Solution
Answer: b) 8%

Solution:   S.I. = Rs. 840 , R = 5%, T = 8 years.
Principal = Rs. (100 * 840)/(5 * 8) = Rs. 2100

Now, P = Rs. 2100, S.I. = Rs. 840, T = 5 years.

Rate = (100 * 840)/(2100 * 5) % = 8%.
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