MCQ: Simple Interest - 3 - SSC CGL MCQ

# MCQ: Simple Interest - 3 - SSC CGL MCQ

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## 15 Questions MCQ Test Quantitative Aptitude for SSC CGL - MCQ: Simple Interest - 3

MCQ: Simple Interest - 3 for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation. The MCQ: Simple Interest - 3 questions and answers have been prepared according to the SSC CGL exam syllabus.The MCQ: Simple Interest - 3 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for MCQ: Simple Interest - 3 below.
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MCQ: Simple Interest - 3 - Question 1

### Ajay deposited Rs. 20,000 in a scheme offering a simple interest of 5% p.a. for the first year and 1.5% p.a. more returns each successive year. What is the total interest (in Rs.) obtained after 5 years?

Detailed Solution for MCQ: Simple Interest - 3 - Question 1

P = 20,000
Rate of interest in first year = 5%, (5 + 1.5) %, (5 + 2 × 1.5) %, (5 + 3 × 1.5) %, (5 + 4 × 1.5) %
Total percentage interest in 5 years = 5 × 5% + 1.5% × (1 + 2 + 3 + 4) = 40%
Total interest in five years = 20,000 × 40% = Rs. 8000
Hence, option B is correct.

MCQ: Simple Interest - 3 - Question 2

### Suraj lent out a sum of Rs. 12,000 at 4% p.a. simple interest. From the amount received after 10 years, he lent out half of the amount at 5% p.a. rate of simple interest for 4 years. What is the total interest (in Rs.) obtained by Suraj in this entire process?

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

Let the starting amount = 100x
Interest = 10 × 4% of 100x = 40x
Amount = 140x

Interest = 4 × 5% of 70x = 14x
Total interest = 40x + 14x = 54x

Hence, option A is correct.

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MCQ: Simple Interest - 3 - Question 3

### When the rate of simple interest is different for different years, a sum of Rs. X becomes 108% of itself in 1 year and 130% of itself in 3 years. If the interest obtained in the first, second and third years are in A.P., what is the ratio of the amount of interest obtained in the first year and in the third year, respectively?

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

Let the principal = 100x
First year interest = 108% (100x) – 100x = 8x
Interest in three years = 130% (100x) – 100x = 30x
As the successive interest in the years is in A.P.

Interest in third year = 30x – (10x + 8x) = 12x
Reqd. ratio = 8 : 12 = 2 : 3
Hence, option A is correct.

MCQ: Simple Interest - 3 - Question 4

A sum lent out at simple interest gives a return of Rs. ‘p’ each year and becomes 4/3 times itself in 6 years. If the sum decreases by 16.67% and the per year returns decrease by 33.33%, by how much percent the sum of money will increase in 9 years?

Detailed Solution for MCQ: Simple Interest - 3 - Question 4

Let the sum = 6A

6p = 2A
After the sum decreases by 16.67% (1/6) and per year returns decrease by 33.33%

= 5A + 6p
= 7A (6p = 2A)

Hence, option C is correct.

MCQ: Simple Interest - 3 - Question 5

A sum of Rs. X increases by 1/15 times in the first year and by 1/8 times in the second year. It increases by 8.33% in the third year and the total interest in three years is Rs. 3900, what is the amount obtained at the end of three years?

Detailed Solution for MCQ: Simple Interest - 3 - Question 5

Let the three successive amounts be A1, A2 and A3
Principal : A1 : A2 = 15 : 16 : 18 and A2 : A3 = 12 : 13
Principal : A1 : A2 : A3 = 60 : 64 : 72 : 78
Amount at the end of three years

Hence, option C is correct.

MCQ: Simple Interest - 3 - Question 6

A sum of Rs. ‘5p’ is invested in scheme A for 5 years and a sum of Rs. ‘8p’ is invested in scheme B for 2 years. The total interest from scheme B is 25% more than that from scheme A and the amount from scheme B is 50% more than that from scheme A. If the difference between the sum of money invested in the two schemes is Rs. 4200, what is the total interest (in Rs.) obtained from both the schemes?

Detailed Solution for MCQ: Simple Interest - 3 - Question 6

Sum invested in A : B = 5 : 8
Difference = 4200
Sum invested in A = 7000 and in B = 11,200
Let the interest from A = 4x and interest from B = 5x
(7000 + 4x) : (11,200 + 5x) = 2 : 3
x = 700
Total interest = 9x = 9 × 700 = Rs. 6300
Hence, option D is correct.

MCQ: Simple Interest - 3 - Question 7

Karan lent out 40% less money than Arjun at simple interest for 6 years. The interest obtained by Karan is 12% of the sum lent out by Arjun and the interest obtained by Arjun is 40% of the sum lent out by Karan. What is the ratio of the rate of interest per annum of Karan to that of Arjun?

Detailed Solution for MCQ: Simple Interest - 3 - Question 7

Ratio of the amount lent out by Karan : Arjun = 3 : 5
Let the sum of money lent out by Karan = 300x and that lent out by Arjun = 500x
Interest of Karan = 12% (500x) = 60x

Interest of Arjun = 40% (300x) = 120x

Reqd. ratio = 3.33% : 4% = 5 : 6
Hence, option A is correct.

MCQ: Simple Interest - 3 - Question 8

Aman had a certain sum of money with him. He lent out 25% of the sum at 4x% p.a., 35% of the sum at 2x% p.a. and the remaining at 3x% p.a. simple interest. If the sum of money increased by 29% in two years, what is the value of x?

Detailed Solution for MCQ: Simple Interest - 3 - Question 8

Let the sum be 100y
Interest = 29% (100y) = 29y
2(25y × 4x% + 35y × 2x% + 40y × 3x%) = 29y

x = 5
Hence, option B is correct.

MCQ: Simple Interest - 3 - Question 9

At a certain rate of simple interest, a sum of money becomes 160% of itself in 3 years. If the sum of money, rate of interest and time of investment increase by 20%, 50% and 66.67%, respectively, what will be the percentage increase in the amount received?

Detailed Solution for MCQ: Simple Interest - 3 - Question 9

P = 100 and Interest = 60
Amount = 100 + 60 = 160
P = 100
R = 20%
T = 3
Principal increases by 20%, rate of interest by 50% and time by 66.67%
Now
P = 120
R = 30%
T = 5

Amount = 300
Percentage increase in the amount

Hence, option C is correct.

MCQ: Simple Interest - 3 - Question 10

A sum of money is lent out at simple interest for three years. The ratio of the amount of interest in the first, second and third years is in the ratio 1 : 4 : 2 respectively. The ratio of the amount (principal + interest) at the end of the first, the second and the third year is 6 : 8 : 9 respectively. What is the rate of interest for the third year?

Detailed Solution for MCQ: Simple Interest - 3 - Question 10

Let the amount at the end of the first, second and third years be A1, A2 and A3
A1 : A2 : A3 = 6 : 8 : 9 of 12 : 16 :18
As ratio of the amount of interest of the first, second and third years = 1 : 4 : 2
P : A1 : A2 : A3 = 11 : 12 : 16 : 18
Rate of interest for the third year

Hence, option D is correct.

MCQ: Simple Interest - 3 - Question 11

At a certain rate of simple interest per annum, the ratio of the amount Aman gets in 8 years and the amount Seema gets in 6 years are in the ratio 29 : 42, respectively. If Seema invested 50% more amount that Aman, what is the rate of interest per annum?

Detailed Solution for MCQ: Simple Interest - 3 - Question 11

The ratio of the investment of Aman : Seema = 2 : 3
Let the amount be invested at 'r' % per annum
Amount obtained by Aman = 2x (1 + 8r%)
Amount obtained by Seema = 3x (1 + 6r%)

28 + 224 r% = 29 + 174 r%
r = 2
Hence, option A is correct.

MCQ: Simple Interest - 3 - Question 12

At a certain rate of simple interest per annum a sum of Rs. P becomes 11/8 times itself in 6 years. What will be the ratio of the amount obtained on Rs. 2P at the same rate in 5 years to the amount obtained on Rs. 3P at the same rate in 12 years?

Detailed Solution for MCQ: Simple Interest - 3 - Question 12

P : A = 8 : 11 or 16 : 22

Hence, option A is correct.

MCQ: Simple Interest - 3 - Question 13

A sum of Rs. 15000 becomes Rs. 24,600 when invested at ‘x’ p.a. simple interest for ‘x’ years. In how many years, the sum will become thrice itself at (x + 2)% p.a.?

Detailed Solution for MCQ: Simple Interest - 3 - Question 13

x2 = 64
x = 8
At (x + 2)% = 10% p.a.

T = 20 years
Hence, option A is correct.

MCQ: Simple Interest - 3 - Question 14

A sum of Rs. 3600 becomes ‘11z’ in 8 years at 4% p.a. simple interest while at the same rate a sum of Rs. X becomes ‘8z’ in 11 years. What is the value of X?

Detailed Solution for MCQ: Simple Interest - 3 - Question 14

11z = 3600 × (100% + 4% × 8)
11z = 132% of 3600
8z = X × (100% + 4% × 11)
8z = 144% of X
11z : 8z = 132% of 3600 : 144% of X
3 : 2 = 3600 : X

Hence, option C is correct.

MCQ: Simple Interest - 3 - Question 15

A sum of Rs. 32,600 is lent out at simple interest for three years such that the ratio of the amount at the end of the first, second and third years is 42 : 47 : 52, respectively. A total of 30% interest is obtained in three years. What was the amount of interest (in Rs.) in the first two years?

Detailed Solution for MCQ: Simple Interest - 3 - Question 15

Let the first–year interest = a
Let the amount after the first, second and third years be 42y, 47y and 52y
P × 1.3 = 52y
P = 40y
Principal = 40y
Interest in two years = 47y – 40y = 7y
Interest in first two years

Hence, option B is correct.

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## Quantitative Aptitude for SSC CGL

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