Q.1.If Rs. 4 becomes Rs. 10 in 50 years at simple interest, the rate % p.a. is
a) 5 %
b) 2 1/2 %
c) 3 1/3 %
d) 3 %
e) 6 %
Sol : Option D Explanation: SI = 10 – 4 = 6 therefore, 6 = (4xRx50)/100 → R = 3 %.
Q.2. Find out the capital required to earn a monthly interest of Rs. 210 at 7 % simple interest.
a) Rs. 24000
b) Rs. 30000
c) Rs. 18000
d) Rs. 36000
e) Rs. 72000
Sol : Option D Explanation: 210 = (Px7x1)/100x12 → P = 36000
Q.3. If Rs. 460 amounts to Rs. 640 in 6 years, what will it amount to in 2 years at the same rate %?
a) Rs.520
b) Rs. 585
c) Rs. 700
d) Rs. 640
e) Rs. 685
Sol : Option A Explanation: Interest for 6 years = 640 – 460 = Rs.180
therefore, Interest for 2 years = (180/6)x2 = Rs.60
therefore, 460 will become 460 + 60 = Rs. 520 after 2 years
Q.4.A certain sum of money amounts to 7/4 of itself in 3 years. The rate percent p.a. is
a) 25 %
b) 20 %
c) 15%
d) 10 %
e) 5 %
Sol : Option A Explanation: R=[100(x-1)]/t % therefore, R = [100(7/4-1)]/3 = 25%
Q.5.In what time will Rs. 25 become Rs. 37 at % p.a. simple interest?
a) 1/2 Years
b) 2 Years
c) 2 1/4 Years
d) 2 1/2 Years
e) 3 Years
Sol : Option E Explanation: Interest =37 – 25 = 12 → 12 = (25/100)x16xT → T = 3 years
Q9.In what time period will Rs. 10,000 earn an interest of Rs. 2,000 at 10 % p.a.?
a) 2 years
b) 5 years
c) 6 years
d) 3 years
e) 7 years
Sol : Option A Explanation: 2000 = (10,000x10xT)/100
T = 2 years
Q10.Anoop borrowed Rs. 800 at 6 % p.a. & Rs. 1200 at 7 % p.a. for the same duration. He had to pay Rs. 1584 in all as interest. Find the time period.
a) 10 years
b) 11 years
c) 12 years
d) 13 years
e) 15 years
Sol : Option C Explanation: Interest at 1st rate for 1 year = 800 x (6x1)/100 = Rs. 48.
Interest for 1 year at 2nd rate = 1200 x (7 x 1)/100 = Rs. 84
therefore, Total interest for 1 year = Rs. 132.
Hence, the required time = 1584/132 = 12 years.
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