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Quantitative Aptitude :: Simple Interest Questions and Answers
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Exercise 2
exact number of rupees ?
A. 2
B. 3
C. 4
D. 5
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Answer & Explanation
Answer: Option B
Explanation:
= Rs.( * T)
which is an exact number of rupees when T = 3.
12. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is
Rs. 13.50. The difference between their rates of interest is :
A. 0.1%
B. 0.2%
C. 0.3%
D. 0.4%
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Answer & Explanation
Answer: Option C
Explanation:
( ) ( ) = 13.50
<=> = 1350
13. The rates of simple interest in two banks A and B are in the ratio 5 : 4. A person wants to deposit his total
savings in two banks in such a way that he received equal halfyearly interest from both. He should
deposit the savings in banks A and B in the ratio :
A. 2 : 5
B. 4 : 5
C. 5 : 2
D. 5 : 4
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Answer & Explanation
Answer: Option B
Explanation:
Let the savings be X and Y and the rates of simple interest be 5x and 4x respectively.
Then, X * 5x * *
= , i.e., X : Y = 4 : 5.
14. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would
have fetched Rs. 72 more. The sum is :
A. Rs. 1200
B. Rs. 1500
C. Rs. 1600
D. Rs. 1800
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Answer & Explanation
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Answer: Option A
Explanation:
Let the sum be Rs. x and original rate be R%.
<=> 2Rx + 6x 2Rx = 7200
<=> x = 1200.
15. A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of 1 year. In order
to clear his dues at the end of 2 years, he would pay :
A. Rs. 105
B. Rs. 110
C. Rs. 115
D. Rs. 115.50
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Answer & Explanation
Answer: Option C
Explanation:
16. A sum of Rs. 10 is lent to be returned in 11 monthly instalments of Rs. 1 each, interest being simple. The
rate of interest is :
A.
B. 10%
C. 11%
D.
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Answer & Explanation
Answer: Option D
Explanation:
Rs. 10 + S.I. on Rs. 10 for 11 months
= Rs.11 + SI. on Re. 1 for (1 + 2 + 3 + 4 + ..... + 10) months
=> Rs.10 + S.I. on Re. 1 for 110 months
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= Rs.11 + S.I on Re. 1 for 55 months
=> S.I. on Re. 1 for 55 months = Re.1.
Rate = ( )% = 21 .
17. What annual payment will discharge a debt of Rs. 6450 due in 4 years at 5% simple interest ?
A. Rs. 1400
B. Rs. 1500
C. Rs. 1550
D. Rs. 1600
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Answer & Explanation
Answer: Option B
Explanation:
Let the annual instalment be Rs. x. Then,
<=> 86x = 6450 * 20
<=> x = 1500.
diminishes by Rs. 61.50. His capital is :
A. Rs. 22,400
B. Rs. 23,800
C. Rs. 24,600
D. Rs. 26,000
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Answer & Explanation
Answer: Option C
Explanation:
Let the capital be Rs,x.
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<=> 32x 31x = 6150 * 4
<=> x = 24600.
Rs. 1250. His principal (in Rs.) is :
A. 45,000
B. 50,000
C. 60,000
D. 65,000
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Answer & Explanation
Answer: Option B
Explanation:
Let the sum be Rs. x.
<=> 25x 20x = 250000
<=> 5x = 250000
<=> x = 50,000.
20. The price of a TV. set worth Rs. 20,000 is to be paid in 20 instalments of Rs. 1000 each. If the rate of
interest be 6% per annum, and the first instalment be paid at the time of purchase, then, the value of
the last instalment covering the interest as well will be :
A. Rs. 1050
B. Rs. 2050
C. Rs. 3000
D. None of these
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Answer & Explanation
Answer: Option D
Explanation:
Money paid in cash = Rs. 1000.
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Balance payment = Rs.(20000 1000) = Rs.19000.
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