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All questions of Simple Interest And Compound Interest for CLAT Exam
Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.- a)Rs. 380
- b)Rs. 280
- c)Rs. 480
- d)None
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.
a)
Rs. 380
b)
Rs. 280
c)
Rs. 480
d)
None
e)
All of the above
|
Ishani Rane answered |
This is an example of an exponential growth problem. Exponential growth can be modeled by the equation P = a(r)t, where a is the initial amount, t is the time that has passed, P is the amount after time t, and r is the rate of growth.
For your problem, t = 5 years and P = 600. The money increases by 1/10 = 10% each year, so each year, the amount of money is 110% of the previous year. That's a rate of growth of r = 1.1. So:
600 = a(1.1)5
600 = 1.61051a
372.55 = a
The sum was initially Rs. 372.55.
Can you explain the answer of this question below:A sum of money amounts to Rs.9800 after 5 years and Rs.12005 after 8 years at the same rate of simple interest. The rate of interest per annum is- A:15%
- B:12%
- C:8%
- D:5%
The answer is B.
|
Arya Roy answered |
We can get SI of 3 years = 12005 - 9800 = 2205
SI for 5 years = (2205/3)*5 = 3675 [so that we can get principal amount after deducting SI]
Principal = 12005 - 3675 = 6125
So Rate = (100*3675)/(6125*5) = 12%
If the simple interest on a certain sum of money after 25/8 years is 1/4 of the principal, what is the rate of interest per annum?
- a)6%
- b)4%
- c)8%
- d)12%
Correct answer is option 'C'. Can you explain this answer?
If the simple interest on a certain sum of money after 25/8 years is 1/4 of the principal, what is the rate of interest per annum?
a)
6%
b)
4%
c)
8%
d)
12%
|
Rahul Mehta answered |
Take P=x
given T=25/8
& I=1/4x
w.k.t I=PTR/100
1/4x =x*25/8*R/100
R = 8%
given T=25/8
& I=1/4x
w.k.t I=PTR/100
1/4x =x*25/8*R/100
R = 8%
A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :- a)Rs. 700
- b)Rs. 690
- c)Rs. 650
- d)Rs. 698
Correct answer is option 'D'. Can you explain this answer?
a)
Rs. 700
b)
Rs. 690
c)
Rs. 650
d)
Rs. 698
|
Dhruv Mehra answered |
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 * 3) = Rs. 117.
Principal = Rs. (815 - 117) = Rs. 698.Find the Compound Interest on Rs. 12500 at 8% per annum for 9 months compounded quarterly.
- a)Rs.1020
- b)Rs. 1428
- c)Rs. 510
- d)765.1
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
Find the Compound Interest on Rs. 12500 at 8% per annum for 9 months compounded quarterly.
a)
Rs.1020
b)
Rs. 1428
c)
Rs. 510
d)
765.1
e)
All of the above
|
EduRev CLAT answered |
The correct is D as
n=9 months
=3 quaterly
A=125000×(1+2/100)3^=125000×(1+2/100)^3
=125000×51/50×51/50×51/50=125000×51/50×51/50×51/50
=Rs.132651
CI=A−P
=132651−125000
=Rs.765.1
n=9 months
=3 quaterly
A=125000×(1+2/100)3^=125000×(1+2/100)^3
=125000×51/50×51/50×51/50=125000×51/50×51/50×51/50
=Rs.132651
CI=A−P
=132651−125000
=Rs.765.1
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
- a)Rs. 120
- b)Rs. 121
- c)Rs. 123
- d)Rs. 122
Correct answer is option 'B'. Can you explain this answer?
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
a)
Rs. 120
b)
Rs. 121
c)
Rs. 123
d)
Rs. 122
|
|
Ishani Rane answered |
The difference between simple interest and compound on Rs. 900 for one year at 10% per annum reckoned half-yearly is: - a)Rs. 3
- b)Rs. 2.25
- c)Rs. 4.5
- d)Rs. 4
Correct answer is option 'B'. Can you explain this answer?
a)
Rs. 3
b)
Rs. 2.25
c)
Rs. 4.5
d)
Rs. 4
|
Maheshwar Banerjee answered |
Hence Option B is correct
For Complete syllabus of Quant for CAT click on the link given below:
An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:- a)10%
- b)10.25%
- c)10.5%
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
a)
10%
b)
10.25%
c)
10.5%
d)
None of these
|
Master Training Institute answered |
B is the correct option. Solution
6 months interest will be 5%
next 6 months interest will be 5%
percentage effect = 5 + 5 +25/100
= 10.25 Ans
6 months interest will be 5%
next 6 months interest will be 5%
percentage effect = 5 + 5 +25/100
= 10.25 Ans
In what time Rs. 2600 amount to Rs. 3055 at the rate of 3 ½ % per annum.- a)2½ years
- b)5 years
- c)3 years
- d)None
- e)All of the above
Correct answer is option 'B'. Can you explain this answer?
In what time Rs. 2600 amount to Rs. 3055 at the rate of 3 ½ % per annum.
a)
2½ years
b)
5 years
c)
3 years
d)
None
e)
All of the above
|
Faizan Khan answered |
The correct option is B.
Principal amount=2600
Rate=3 1/2%pa=7/2
Time = T
SI=3055-2600=455
SI=PRT/100
455=2600×7×T/100×2,
T=5yrs.
Principal amount=2600
Rate=3 1/2%pa=7/2
Time = T
SI=3055-2600=455
SI=PRT/100
455=2600×7×T/100×2,
T=5yrs.
Simple interest on a certain sum of money for 4 years at 5% per annum is half the compound interest on Rs. 3000 for 2 years at 10% per annum. The sum placed on simple interest is: - a)Rs.1575
- b)Rs. 2200
- c)Rs. 1200
- d)Rs. 1625
Correct answer is option 'A'. Can you explain this answer?
a)
Rs.1575
b)
Rs. 2200
c)
Rs. 1200
d)
Rs. 1625
|
KS Coaching Center answered |
C.I = P[(1 + r/100)n - 1]
C.I = 3000[(1 + 0.10)2 - 1]
= 3000(1.21 - 1)
⇒ 3000 * 0.21
⇒ 630
S.I = 630/2
⇒ 315
As we know that, P = (SI * 100)/(R * T)
⇒ (315 * 100)/(4 * 5)
⇒ 1575
C.I = 3000[(1 + 0.10)2 - 1]
= 3000(1.21 - 1)
⇒ 3000 * 0.21
⇒ 630
S.I = 630/2
⇒ 315
As we know that, P = (SI * 100)/(R * T)
⇒ (315 * 100)/(4 * 5)
⇒ 1575
A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is A.
- a)Rs.2875
- b)Rs.1885
- c)Rs.2245
- d)Rs.2615
Correct answer is option 'A'. Can you explain this answer?
A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is A.
a)
Rs.2875
b)
Rs.1885
c)
Rs.2245
d)
Rs.2615
|
EduRev SSC CGL answered |
A is the correct option.
Simple interest on the total money lent at
8% FOR 4 YEARS = 1400
Total money lent
= 100/8 × 1400/4 =4375
Therefore, money lent to C
= 4375- 1400 = 2875
Simple interest on the total money lent at
8% FOR 4 YEARS = 1400
Total money lent
= 100/8 × 1400/4 =4375
Therefore, money lent to C
= 4375- 1400 = 2875
An amount of money grows upto Rs. 4000 in 2 years and up to Rs. 8000 in 3 years on compound interest. What is the sum?- a)Rs. 1600
- b)Rs. 1000
- c)Rs. 1200
- d)Rs. 2400
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
An amount of money grows upto Rs. 4000 in 2 years and up to Rs. 8000 in 3 years on compound interest. What is the sum?
a)
Rs. 1600
b)
Rs. 1000
c)
Rs. 1200
d)
Rs. 2400
e)
None of these
|
Aarav Sharma answered |
Solution:
Let the principal be Rs. x.
Given, the principal amount grows up to Rs. 4000 in 2 years and up to Rs. 8000 in 3 years on compound interest.
Calculation:
Using the formula for compound interest,
Amount after 2 years = x(1 + r/100)²
Amount after 3 years = x(1 + r/100)³
Given, amount after 2 years = Rs. 4000 and amount after 3 years = Rs. 8000
So, we have two equations as below:
x(1 + r/100)² = 4000
x(1 + r/100)³ = 8000
Dividing the second equation by the first equation, we get:
(1 + r/100) = 2
r/100 = 1
r = 100
Substituting the value of r in any of the equations above, we get:
x = 1000
Therefore, the sum is Rs. 1000.
Hence, option (b) is the correct answer.
Let the principal be Rs. x.
Given, the principal amount grows up to Rs. 4000 in 2 years and up to Rs. 8000 in 3 years on compound interest.
Calculation:
Using the formula for compound interest,
Amount after 2 years = x(1 + r/100)²
Amount after 3 years = x(1 + r/100)³
Given, amount after 2 years = Rs. 4000 and amount after 3 years = Rs. 8000
So, we have two equations as below:
x(1 + r/100)² = 4000
x(1 + r/100)³ = 8000
Dividing the second equation by the first equation, we get:
(1 + r/100) = 2
r/100 = 1
r = 100
Substituting the value of r in any of the equations above, we get:
x = 1000
Therefore, the sum is Rs. 1000.
Hence, option (b) is the correct answer.
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 112 more. The sum is:- a)1120
- b)1400
- c)1200
- d)8000
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 112 more. The sum is:
a)
1120
b)
1400
c)
1200
d)
8000
e)
None of these
|
|
Anaya Patel answered |
The correct answer is C as let principle be p , rate be r , si be x . Also t = 2yrs.
so , x = (p*r*2)/100
x = 2pr/100 _____(1)
If rate = r+4 , si = x+112 then
x+112 = (p*(r+4)*2)/100
x+112 = 2p(r+4)/100
2pr/100+112 = (2pr+8p)/100 (using eq(1))
(2pr+11200)/100 = (2pr+8p)/100
2pr+11200 = 2pr+8p
11200 = 8p
p = 1400
Correct ans is b) 1400
so , x = (p*r*2)/100
x = 2pr/100 _____(1)
If rate = r+4 , si = x+112 then
x+112 = (p*(r+4)*2)/100
x+112 = 2p(r+4)/100
2pr/100+112 = (2pr+8p)/100 (using eq(1))
(2pr+11200)/100 = (2pr+8p)/100
2pr+11200 = 2pr+8p
11200 = 8p
p = 1400
Correct ans is b) 1400
Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?- a)8%
- b)6%
- c)4%
- d)7%
Correct answer is option 'D'. Can you explain this answer?
a)
8%
b)
6%
c)
4%
d)
7%
|
Meghana Mishra answered |
Simple Interest (SI) = P N R / 100
P is the Principal loan amount = Rs.1400
N is the number of years of deposit
R is the rate of interest
It is given that the loan period is as many years as the rate of interest.
So, N = R
Interest at the end of the loan period (SI ) = Rs.686
So,
686 = 1400 * R * R /100
R^2 = 686*100 /1400
R^2 = 49
R = 7%
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is- a)5
- b)4
- c)6
- d)2
Correct answer is option 'B'. Can you explain this answer?
a)
5
b)
4
c)
6
d)
2
|
|
Anaya Patel answered |
P [1 + (r/100)]n > 2P
⇒ P [1 + (20/100)]n > 2P
[1 + (2/10) ]n > 2
[12 / 10]n > 2
[6/5]n > 2
{6/5 * 6/5 * 6/5 * 6/5} > 2
∴ n = 4
⇒ P [1 + (20/100)]n > 2P
[1 + (2/10) ]n > 2
[12 / 10]n > 2
[6/5]n > 2
{6/5 * 6/5 * 6/5 * 6/5} > 2
∴ n = 4
A man had Rs. 5800 a part of which he lent at 4% and rest at 6%. The whole annual interest received was Rs. 292. The money lent at 4% was ……?- a)Rs. 3000
- b)Rs. 2600
- c)Rs. 2700
- d)None
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
A man had Rs. 5800 a part of which he lent at 4% and rest at 6%. The whole annual interest received was Rs. 292. The money lent at 4% was ……?
a)
Rs. 3000
b)
Rs. 2600
c)
Rs. 2700
d)
None
e)
All of the above
|
|
Anaya Patel answered |
The correct option is D as Let the part lent at 4% be x then , rest will be (5800-x) .
(x*4*1)/100 + { (5800-x)*6*1 } / 100 = 292
4x/100 + { 34800 - 6x }/100 = 292
4x + 34800 - 6x = 29200
2x = 5600
x = 2800 so , d is correct option.
(x*4*1)/100 + { (5800-x)*6*1 } / 100 = 292
4x/100 + { 34800 - 6x }/100 = 292
4x + 34800 - 6x = 29200
2x = 5600
x = 2800 so , d is correct option.
A sum was put at simple interest at a certain rate for 5 years. had it been put at 5% higher rate, it would have fetched Rs. 500 more. What is the sum?- a)Rs. 2000
- b)Rs. 2400
- c)Rs. 2500
- d)Rs. 3200
- e)Rs. 4400
Correct answer is option 'A'. Can you explain this answer?
A sum was put at simple interest at a certain rate for 5 years. had it been put at 5% higher rate, it would have fetched Rs. 500 more. What is the sum?
a)
Rs. 2000
b)
Rs. 2400
c)
Rs. 2500
d)
Rs. 3200
e)
Rs. 4400
|
Notes Wala answered |
The correct answer is A
let principle be p , rate be r , si be x . Also t = 5 yrs.
so , x = (p*r*5)/100
x = 5pr/100 _____(1)
If rate = r+5 , si = x+500 then
x+500 = (p*(r+5)*5)/100
x+500 = 5p(r+5)/100
5pr/100+500 = (5pr+25p)/100 (using eq(1))
(5pr+50000)/100 = (5pr+25p)/100
5pr+50000 = 5pr+25p
50000 = 25p
p = 2000
let principle be p , rate be r , si be x . Also t = 5 yrs.
so , x = (p*r*5)/100
x = 5pr/100 _____(1)
If rate = r+5 , si = x+500 then
x+500 = (p*(r+5)*5)/100
x+500 = 5p(r+5)/100
5pr/100+500 = (5pr+25p)/100 (using eq(1))
(5pr+50000)/100 = (5pr+25p)/100
5pr+50000 = 5pr+25p
50000 = 25p
p = 2000
What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.? - a)Rs. 14705.24
- b)Rs. 14602.25
- c)Rs. 14822.26
- d)Rs. 14322.10
Correct answer is option 'A'. Can you explain this answer?
a)
Rs. 14705.24
b)
Rs. 14602.25
c)
Rs. 14822.26
d)
Rs. 14322.10
|
|
Rhea Reddy answered |
Amount after 3 years = P(1 + R/100)T
=> 40000(1 + 11/100)3
=> 40000(111/100)3
=> 40000[(111*111*111)/(100*100*100)]
=> (4*111*111*111)/100
=> 54705.24
Compound Interest = 54705.24 - 40000
= Rs. 14705.24
=> 40000(1 + 11/100)3
=> 40000(111/100)3
=> 40000[(111*111*111)/(100*100*100)]
=> (4*111*111*111)/100
=> 54705.24
Compound Interest = 54705.24 - 40000
= Rs. 14705.24
.)In what time Rs. 540 at 5 percent per annum will produce the same Interest as Rs. 1800 in 5 years at 6 percent per annum.- a)10 years
- b)30 years
- c)25 years
- d)None
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
.)In what time Rs. 540 at 5 percent per annum will produce the same Interest as Rs. 1800 in 5 years at 6 percent per annum.
a)
10 years
b)
30 years
c)
25 years
d)
None
e)
All of the above
|
Bank Exams India answered |
Using the simple interest formula I = PRT, we set the interests equal: 540 * 0.05 * T = 1800 * 0.06 * 5. 27T = 540. T = 20 years. Since 20 isn't an option, the answer is D.
What is the difference between the compound interest and the simple interest for the sum Rs. 16000 at 5% p.a. for 2 years?- a)Rs. 80
- b)Rs. 60
- c)Rs. 54
- d)Rs. 40
- e)Rs. 35
Correct answer is option 'A'. Can you explain this answer?
What is the difference between the compound interest and the simple interest for the sum Rs. 16000 at 5% p.a. for 2 years?
a)
Rs. 80
b)
Rs. 60
c)
Rs. 54
d)
Rs. 40
e)
Rs. 35
|
Dia Mehta answered |
Option ( A) 40 is the correct answer.
Explanation:- Given, P = 16000₹
R = 5% , T = 2 years
A = P (1 + R /100) ^n
= 16000 * ( 1+5/100) ^2
= 16000 * ( 105 / 100) ^2
A = 17,640₹
C. I = A- P
= 17,640 - 16,000
= 1,640
S. I = PTR / 100
= 16000 * 2 * 5/ 100
= 1,600
Difference CI - SI ;
= 1640 - 1600
= 40 ₹
Ravi borrowed some money at the rate of 4 pcpa for the first three years, at the rate of 8 pcpa for the next two years and at the rate of 9 pcpa for the period beyond 5 years. If he pays a total simple interest of Rs. 19550 at the end of 7 years, how much money did he borrow?- a)Rs. 39,500
- b)Rs. 42,500
- c)Rs. 41,900
- d)Rs. 43,000
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
Ravi borrowed some money at the rate of 4 pcpa for the first three years, at the rate of 8 pcpa for the next two years and at the rate of 9 pcpa for the period beyond 5 years. If he pays a total simple interest of Rs. 19550 at the end of 7 years, how much money did he borrow?
a)
Rs. 39,500
b)
Rs. 42,500
c)
Rs. 41,900
d)
Rs. 43,000
e)
None of these
|
Aspire Academy answered |
The correct answer is B .as f the amount borrowed be Rs.x, then
x×4×6
100
+
x×8×2
100
+
x×9×2
100
x×4×6100+x×8×2100+x×9×2100 = Rs.19550Th
=>
12x100+16x100+18x10012x100+16x100+18x100 = 19550
=> 12x+16x+18x
= 1955000
=> 46x = 1955000
=> x = 19550000
46
1955000046
= Rs.42500
x×4×6
100
+
x×8×2
100
+
x×9×2
100
x×4×6100+x×8×2100+x×9×2100 = Rs.19550Th
=>
12x100+16x100+18x10012x100+16x100+18x100 = 19550
=> 12x+16x+18x
= 1955000
=> 46x = 1955000
=> x = 19550000
46
1955000046
= Rs.42500
Can you explain the answer of this question below:Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?- A:Rs. 6400
- B:Rs. 7200
- C:Rs. 6500
- D:Rs. 7500
The answer is A.
A:
Rs. 6400
B:
Rs. 7200
C:
Rs. 6500
D:
Rs. 7500
|
Pallabi Deshpande answered |
A sum of Rs. 14,000 amounts to Rs. 22,400 in 12 years at the rate of simple interest. What is the rate of interest?- a)7%
- b)6%
- c)5%
- d)4%
Correct answer is option 'C'. Can you explain this answer?
a)
7%
b)
6%
c)
5%
d)
4%
|
|
Aspire Academy answered |
Amount = 22400, P = 14000, T = 12yrs
SI = 22400 - 14000
= 8400
Rate = (8400*100)/(12*14000)
= 5%
SI = 22400 - 14000
= 8400
Rate = (8400*100)/(12*14000)
= 5%
A man took loan from a bank at the rate of 8% p.a. simple interest. After 4 years he had to pay Rs. 6200 interest only for the period. The principal amount borrowed by him was:- a)Rs.17322
- b)Rs.20245
- c)Rs.18230
- d)Rs.19375
Correct answer is option 'D'. Can you explain this answer?
a)
Rs.17322
b)
Rs.20245
c)
Rs.18230
d)
Rs.19375
|
|
Ishani Rane answered |
Principal(P) = ?
Time(T) = 4 years
Simple Interest(SI) = Rs.6200
R = 8%
P = 100 * SI/RT = 100 * 6200/8*4 = Rs.19375
The simple interest accrued on a sum of certain principal is Rs. 6500/- in eight years at the rate of 13 p.c.p.a. What would be the compound interest accrued on that principal at the rate of 8 p.c.p.a. in 2 years?- a)Rs. 1040/-
- b)Rs. 1020/-
- c)Rs. 1060/-
- d)Rs. 1200/-
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
The simple interest accrued on a sum of certain principal is Rs. 6500/- in eight years at the rate of 13 p.c.p.a. What would be the compound interest accrued on that principal at the rate of 8 p.c.p.a. in 2 years?
a)
Rs. 1040/-
b)
Rs. 1020/-
c)
Rs. 1060/-
d)
Rs. 1200/-
e)
None of these
|
|
Anaya Patel answered |
The corect option is A by using compound formulae the amount comes to be 1040.
A sum amounts to Rs. 882 in 2 years at 5% compound interest. The sum is - a)Rs. 800
- b)Rs. 822
- c)Rs. 840
- d)Rs. 816
Correct answer is option 'A'. Can you explain this answer?
a)
Rs. 800
b)
Rs. 822
c)
Rs. 840
d)
Rs. 816
|
|
Kavya Saxena answered |
Compound interest = Amount -Principal
Amount = P(1 + R/100)N
882 = P(1+5/100)2
= 882 × 20/21 × 20/21
P = 800
Amount = P(1 + R/100)N
882 = P(1+5/100)2
= 882 × 20/21 × 20/21
P = 800
The compound interest accrued on an amount of the end of two years @ 12 p.c.p.a. is Rs. 2862/- What is the amount?- a)Rs. 11,250/-
- b)Rs. 12,200/-
- c)Rs. 13,500/-
- d)Rs. 10,000
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
The compound interest accrued on an amount of the end of two years @ 12 p.c.p.a. is Rs. 2862/- What is the amount?
a)
Rs. 11,250/-
b)
Rs. 12,200/-
c)
Rs. 13,500/-
d)
Rs. 10,000
e)
None of these
|
Glance Learning Institute answered |
The correct answer is A as
CI = P((1+R/100)^n - 1)
2862 = P(( 1+12/100)^2-1)
2862 = P((1+144/10000 + 24/100) -1)
2862 = P (144/10000+24/100)
2862 = P (2544/10000)
P = 11,250
CI = P((1+R/100)^n - 1)
2862 = P(( 1+12/100)^2-1)
2862 = P((1+144/10000 + 24/100) -1)
2862 = P (144/10000+24/100)
2862 = P (2544/10000)
P = 11,250
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is: - a)1
- b)2
- c)3
- d)3.5
Correct answer is option 'B'. Can you explain this answer?
a)
1
b)
2
c)
3
d)
3.5
|
Raghavendra Sharma answered |
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000 (1 + 7/100)^n = 34347
= (107/100)^n = 34347/30000 = 11449/10000 = (107/100)^2
n = 2 years.
What is the sum of amount which gives Rs. 6300 as interest @ 7% per annum of simple interest in 7*1/2years?- a)36000
- b)24000
- c)63000
- d)12000
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
What is the sum of amount which gives Rs. 6300 as interest @ 7% per annum of simple interest in 7*1/2years?
a)
36000
b)
24000
c)
63000
d)
12000
e)
None of these
|
Sachin Salaria answered |
S.I=6300,R=7%,T=7*1/2=15/2 YEARS
Formula
SI= P×R×T/100
6300 =P×7×15/100×2
6300=P×7×3/20×2
6300×40=P×7×3
6300×40/7×3=P
300×40=P
12000= P answer is D
Formula
SI= P×R×T/100
6300 =P×7×15/100×2
6300=P×7×3/20×2
6300×40=P×7×3
6300×40/7×3=P
300×40=P
12000= P answer is D
Suresh for 2 years invested Rs. 500 in SBI. He also invested Rs. 300 in ICICI for 4 years. At the end he received Rs. 220 from both banks as simple interest. What must have been rate of interest? (assuming the rate of interest for both banks is same)- a) 10%
- b) 12%
- c) 11%
- d) 5.5%
Correct answer is option 'A'. Can you explain this answer?
Suresh for 2 years invested Rs. 500 in SBI. He also invested Rs. 300 in ICICI for 4 years. At the end he received Rs. 220 from both banks as simple interest. What must have been rate of interest? (assuming the rate of interest for both banks is same)
a)
10%
b)
12%
c)
11%
d)
5.5%
|
Yash Patel answered |
A lent 180 to B for 10 years and 200 to C for 2 years at Simple interest, the rate of interest being same in both the cases. He received Rs. 220 as total interest. Find the rate%.
- a)5%
- b)10%
- c)8%
- d)None
- e)All of the above
Correct answer is option 'B'. Can you explain this answer?
A lent 180 to B for 10 years and 200 to C for 2 years at Simple interest, the rate of interest being same in both the cases. He received Rs. 220 as total interest. Find the rate%.
a)
5%
b)
10%
c)
8%
d)
None
e)
All of the above
|
Melvin Joe answered |
T. S. I=220
S.I (B) +S. I(C) =(180*10*R+200*2*R)/100=220
2200R=22000
R=22000/2200
R=10%
S.I (B) +S. I(C) =(180*10*R+200*2*R)/100=220
2200R=22000
R=22000/2200
R=10%
Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years and at the rate of 14% p.a.for the period beyond five years.1£ he pays a total interest of Rs. 11, 400 at the end of nine years how much money did he borrow?
- a)11,000
- b)12,000
- c)13,000
- d)14,000
- e)All of the above
Correct answer is option 'B'. Can you explain this answer?
Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years and at the rate of 14% p.a.for the period beyond five years.1£ he pays a total interest of Rs. 11, 400 at the end of nine years how much money did he borrow?
a)
11,000
b)
12,000
c)
13,000
d)
14,000
e)
All of the above
|
|
Rhea Reddy answered |
The Simple Interest on a certain sum of money for two years is Rs. 40 and the CI on same sum at same rate for same time is Rs. 40.50. Find the sum.- a)Rs. 1600
- b)Rs. 800
- c)Rs. 600
- d)None
- e)All of the above
Correct answer is option 'B'. Can you explain this answer?
The Simple Interest on a certain sum of money for two years is Rs. 40 and the CI on same sum at same rate for same time is Rs. 40.50. Find the sum.
a)
Rs. 1600
b)
Rs. 800
c)
Rs. 600
d)
None
e)
All of the above
|
Krishan Kumar answered |
1. Calculate Simple Interest (SI): SI formula: SI = P × R × T / 100. Given SI for two years is Rs.40. Thus, 40 = P × R × 2 / 100 => P × R = 2000 ...(1) 2. Calculate Compound Interest (CI): CI formula: A = P(1 + R / 100)2. CI for two years is Rs.40.50, so A = P + 40.50. Thus, CI = A - P = 40.50. Therefore, P[(1 + R / 100)2 - 1] = 40.50 ...(2) 3. Substitute R from equation (1) into equation (2): From (1), R = 2000 / P. Substitute into CI formula: P(1 + 20 / P)2 - P = 40.50. Simplify: P(1 + 40 / P + 400 / P2) - P = 40.50. This leads to 40 + 400 / P = 40.50. Therefore, 400 / P = 0.50 => P = 400 / 0.50 = 800. 4. Conclusion: The principal sum is Rs.800.
If the rate of simple interest is 12% per annum, the amount that would fetch interest of Rs. 6000 per annum is:- a)Rs. 7200
- b)Rs. 48000
- c)Rs.50000
- d)Rs. 72000
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
If the rate of simple interest is 12% per annum, the amount that would fetch interest of Rs. 6000 per annum is:
a)
Rs. 7200
b)
Rs. 48000
c)
Rs.50000
d)
Rs. 72000
e)
None of these
|
|
Aarav Sharma answered |
Given,
Rate of interest = 12% per annum
Interest received = Rs. 6000 per annum
We know that,
Simple Interest = (P * R * T) / 100
Where,
P = Principal amount
R = Rate of interest per annum
T = Time in years
To find the principal amount, we can use the formula:
P = (100 * SI) / (R * T)
Here,
R = 12% per annum
T = 1 year
SI = Rs. 6000 per annum
Substituting the values in the formula, we get
P = (100 * 6000) / (12 * 1) = Rs. 50000
Therefore, the amount that would fetch interest of Rs. 6000 per annum at a rate of 12% per annum is Rs. 50000.
Hence, option (c) is the correct answer.
Rate of interest = 12% per annum
Interest received = Rs. 6000 per annum
We know that,
Simple Interest = (P * R * T) / 100
Where,
P = Principal amount
R = Rate of interest per annum
T = Time in years
To find the principal amount, we can use the formula:
P = (100 * SI) / (R * T)
Here,
R = 12% per annum
T = 1 year
SI = Rs. 6000 per annum
Substituting the values in the formula, we get
P = (100 * 6000) / (12 * 1) = Rs. 50000
Therefore, the amount that would fetch interest of Rs. 6000 per annum at a rate of 12% per annum is Rs. 50000.
Hence, option (c) is the correct answer.
What is the time period for which Rs. 8000 amounts to Rs. 12000 at 20% p.a. of simple interest?- a)4 years
- b)2.5 years
- c)3.25 years
- d)6 years
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
What is the time period for which Rs. 8000 amounts to Rs. 12000 at 20% p.a. of simple interest?
a)
4 years
b)
2.5 years
c)
3.25 years
d)
6 years
e)
None of these
|
|
Harsh Goyal answered |
SI = PRT/100
Here, P = 8000, R = 20%, SI = 12000-8000 = 4000
So,
(8000*20*T)/100 = 4000 i.e.
1600T = 4000 i.e.
T = 4000/1600 = 2.5 years
A man buys a land and gives for it 20 times the annual rent. Find the rate of Interest he gets for his money.- a)10%
- b)3%
- c)4%
- d)None.
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
A man buys a land and gives for it 20 times the annual rent. Find the rate of Interest he gets for his money.
a)
10%
b)
3%
c)
4%
d)
None.
e)
All of the above
|
Nikita Singh answered |
Let annual rent is 1 Rs. so buys the land at 20 Rs. So by investing Rs.20 he is getting Rs.1 as interest. so on Rs.100 he gets Rs.5. So rate%=5%. Hence option D is the answer.
The simple interest accrued on an amount of Rs. 22,500/- at the end of four years is Rs. 10,800/-. What would be the compound interest accrued on the same amount at the same rate at the end of two years?- a)Rs. 16908/-
- b)Rs. 5724/-
- c)Rs. 28224/-
- d)Rs. 8586/-
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
The simple interest accrued on an amount of Rs. 22,500/- at the end of four years is Rs. 10,800/-. What would be the compound interest accrued on the same amount at the same rate at the end of two years?
a)
Rs. 16908/-
b)
Rs. 5724/-
c)
Rs. 28224/-
d)
Rs. 8586/-
e)
None of these
|
Jyoti Reddy answered |
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?
- a)Rs. 35
- b)Rs. 245
- c)Rs. 350
- d)Cannot be determined
Correct answer is option 'D'. Can you explain this answer?
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?
a)
Rs. 35
b)
Rs. 245
c)
Rs. 350
d)
Cannot be determined
|
|
Nitesh Verma answered |
I think data given in this question in not sufficient to solved it.
because we want atleast any one thing to solve this.( principle amount or rate of interest)
because we want atleast any one thing to solve this.( principle amount or rate of interest)
Find the rate of Simple Interest when a sum of money treble itself in 25 years.- a)4%
- b)10%
- c)8%
- d)None
- e)All of the above
Correct answer is option 'C'. Can you explain this answer?
Find the rate of Simple Interest when a sum of money treble itself in 25 years.
a)
4%
b)
10%
c)
8%
d)
None
e)
All of the above
|
|
Aarav Sharma answered |
Given, the sum of money trebles itself in 25 years.
Let the principal amount be P.
Formula:
Simple Interest = (P * R * T) / 100
where P is the principal amount, R is the rate of interest, and T is the time period.
Calculation:
After 25 years, the sum becomes 3P.
Using the formula of Simple Interest,
3P = P + (P * R * 25) / 100
2P = (P * R * 25) / 100
R = (2P * 100) / (P * 25)
R = 8%
Therefore, the rate of Simple Interest is 8%. Hence, option C is the correct answer.
Let the principal amount be P.
Formula:
Simple Interest = (P * R * T) / 100
where P is the principal amount, R is the rate of interest, and T is the time period.
Calculation:
After 25 years, the sum becomes 3P.
Using the formula of Simple Interest,
3P = P + (P * R * 25) / 100
2P = (P * R * 25) / 100
R = (2P * 100) / (P * 25)
R = 8%
Therefore, the rate of Simple Interest is 8%. Hence, option C is the correct answer.
Chapter doubts & questions for Simple Interest And Compound Interest - Quantitative Techniques for CLAT 2025 is part of CLAT exam preparation. The chapters have been prepared according to the CLAT exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for CLAT 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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Quantitative Techniques for CLAT
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