MCQ: Simple Interest - 2 - SSC CGL MCQ

MCQ: Simple Interest - 2 - SSC CGL MCQ

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15 Questions MCQ Test Quantitative Aptitude for SSC CGL - MCQ: Simple Interest - 2

MCQ: Simple Interest - 2 for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation. The MCQ: Simple Interest - 2 questions and answers have been prepared according to the SSC CGL exam syllabus.The MCQ: Simple Interest - 2 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for MCQ: Simple Interest - 2 below.
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MCQ: Simple Interest - 2 - Question 1

Ajay lent out a certain sum of money at 5% p.a. simple interest for 4 years. Baman lent out the same sum of money as Aman at 10% p.a. simple interest. If Baman received thrice as much interest as Ajay, the amount received by Baman is what percent of the amount received by Ajay?

Detailed Solution for MCQ: Simple Interest - 2 - Question 1

Amount received by Ajay = 100% + 20% = 120%
Amount received by Baman = 100% + 3 × 20% = 160%

Hence, Option A is correct.

MCQ: Simple Interest - 2 - Question 2

The simple interest on a sum of Rs. 4500 at 12% p.a. in 8 years is Rs. 2640 more than the simple interest on Rs. X at 7% p.a. in 5 years. What is the value of X?

Detailed Solution for MCQ: Simple Interest - 2 - Question 2

4500 × 12% × 8 = 4320
X × 7% × 5 = 4320 – 2640
X × 35% = 1680
X = 4800
Hence, Option D is correct.

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MCQ: Simple Interest - 2 - Question 3

Kapil borrowed Rs. 17,800 from a bank at a simple interest of 5% p.a. for 6 years and lent it to Vishal at the rate of 7% p.a. simple interest for 5 years. After returning the due amount to bank, what is the amount (in Rs.) gained by Kapil in the whole transaction?

Detailed Solution for MCQ: Simple Interest - 2 - Question 3

Interest to be returned = 6 × 5% = 30%
Interest earned = 5 × 7% = 35%
Difference = 35% − 30% = 5%
Amount earned = 5% (17,800) = Rs. 890
Hence, Option B is correct.

MCQ: Simple Interest - 2 - Question 4

A sum of Rs. 15,000 lent out at the rate of r% p.a. gives Rs. 2700 as simple interest in 6 years. What would be the simple interest if the same sum was lent out at (r + 2)% p.a. for the same time?

Detailed Solution for MCQ: Simple Interest - 2 - Question 4

Previous interest = 6r%
New interest = 6 (r + 2)% = 6r% + 12%
New interest = 2700 + 12% of 15,000
New interest = 2700 + 1800 = Rs. 4500
Hence, Option C is correct.

MCQ: Simple Interest - 2 - Question 5

A sum of money increased by 10%, 9.09% and 8.33% in three successive years at a certain rate of simple interest. If the same sum of money will give the same amount in 4 years at y% p.a. simple interest, what is the value of y?

Detailed Solution for MCQ: Simple Interest - 2 - Question 5

If the same interest is obtained in 4 years

y = 7.5%
Hence, Option A is correct.

MCQ: Simple Interest - 2 - Question 6

A sum of Rs. 24,000 is lent out at simple interest for 5 years when the rate of interest for the first 3 years is x% p.a. and that for the next 2 years is y% p.a. If the sum becomes Rs. 27,600 in 3 years and Rs. 33,600 in 5 years, what is the value of x : y?

Detailed Solution for MCQ: Simple Interest - 2 - Question 6

One year interest for first 3 years

One year interest for next 2 years

x : y = 1200 : 3,000 = 2 : 5
Hence, Option A is correct.

MCQ: Simple Interest - 2 - Question 7

A sum of Rs. 18,000 becomes Rs. 22,500 in 5 years at r% rate of simple interest. What will be the ratio of simple interest obtained on the same sum at (r + 2)% p.a. in 2 years to that obtained at (r + 3)% p.a. in 7 years?

Detailed Solution for MCQ: Simple Interest - 2 - Question 7

r = 5
Reqd. ratio = (5 + 2)% × 2 : (5 + 3)% × 7 = 1 : 4
Hence, Option C is correct.

MCQ: Simple Interest - 2 - Question 8

A lent out a sum of money at 5% p.a. simple interest for 5 years. B lent out half the sum of money lent out by A at 10% p.a. for 10 years. The interest received by A is what percent of the amount received by B?

Detailed Solution for MCQ: Simple Interest - 2 - Question 8

Let the sum lent out by A = 100
Interest received by A = (5 × 5%) of 100 = 25

Amount received by B = 50 × (100% + 10% × 10) = 100

Hence, Option B is correct.

MCQ: Simple Interest - 2 - Question 9

A sum of money is deposited in a bank for 3 years and per annum rate of simple interest for the first, second and third years is x%, (x + 4)% and (x + 5)%, respectively. If the sum becomes 124% of itself in 3 years, what is the rate of interest for the third year?

Detailed Solution for MCQ: Simple Interest - 2 - Question 9

100 (1 + (x + x + 4 + x + 5)%) = 124
100 + 3x + 9 = 124
3x + 9 = 24
x = 5
Rate for interest for the third year = x + 5 = 10%
Hence, Option D is correct.

MCQ: Simple Interest - 2 - Question 10

A sum of money is invested for three years, with per annum rates of simple interest for the first, second, and third years being 2%, 6% and 4.5%, respectively. The amount would be Rs. 112 less if the rates of interest for the first, second, and third years were 6%, 2.5%, and 1.5%, respectively. What was the value (in Rs.) of the sum of money invested?

Detailed Solution for MCQ: Simple Interest - 2 - Question 10

Difference between the total percentage interest = (2 + 6 + 4.5) – (6 + 2.5 + 1.5) = 2.5%
2.5% of Sum = 112

Hence, Option C is correct.

MCQ: Simple Interest - 2 - Question 11

A sum of Rs. 24,000 is lent out at simple interest for three years with rate of interest per annum for the first, second and third years being 5%, 12.5% and 10%, respectively. What is the amount obtained after three years?

Detailed Solution for MCQ: Simple Interest - 2 - Question 11

Amount in three years = 24,000 × (1 + 5% + 12.5% + 10%)
= 24,000 × 127.5% = Rs. 30,600
Hence, Option D is correct.

MCQ: Simple Interest - 2 - Question 12

A person has a sum of Rs. 32,000 with him. What will be the difference (in Rs.) between the simple interest obtained on investing it at 1.25% p.a. for 60 years and at 1.8% p.a. for 50 years?

Detailed Solution for MCQ: Simple Interest - 2 - Question 12

Difference between the interest = 1.8% × 50 − 1.25% × 60
90% −75% = 15%
Reqd. difference = 15% (32,000) = Rs. 4800
Hence, Option C is correct.

MCQ: Simple Interest - 2 - Question 13

A sum of Rs. 16,000 invested at ‘r’% p.a. simple interest becomes Rs. 23,200 in ‘5r’ years. For how many years the sum of money was invested?

Detailed Solution for MCQ: Simple Interest - 2 - Question 13

r = 3
So, time for which the sum is invested = 5r = 15 years
Hence, Option C is correct.

MCQ: Simple Interest - 2 - Question 14

What will be the simple interest on a sum of Rs. 48,000 at the rate of 6.25% p.a. in 7 years and 2.4 months?

Detailed Solution for MCQ: Simple Interest - 2 - Question 14

SI = Rs. 21,600
Hence, Option A is correct.

MCQ: Simple Interest - 2 - Question 15

A sum of Rs. X lent out at the rate of 4% p.a. gives Rs. 4800 as interest in 8 years. What would be the interest received if Rs. (X + 5,000) was lent out at 6% p.a. for 6 years?

Detailed Solution for MCQ: Simple Interest - 2 - Question 15

8 × 4% of X = 4800
X = 15,000
X + 5000 = 20,000
6 × 6% of 20,000 = Rs. 7200
Hence, Option C is correct.

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Quantitative Aptitude for SSC CGL

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