Simple Interest - MCQ 4


Test Description

20 Questions MCQ Test Quantitative Aptitude for Competitive Examinations | Simple Interest - MCQ 4

Simple Interest - MCQ 4 for Quant 2022 is part of Quantitative Aptitude for Competitive Examinations preparation. The Simple Interest - MCQ 4 questions and answers have been prepared according to the Quant exam syllabus.The Simple Interest - MCQ 4 MCQs are made for Quant 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Simple Interest - MCQ 4 below.
Solutions of Simple Interest - MCQ 4 questions in English are available as part of our Quantitative Aptitude for Competitive Examinations for Quant & Simple Interest - MCQ 4 solutions in Hindi for Quantitative Aptitude for Competitive Examinations course. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free. Attempt Simple Interest - MCQ 4 | 20 questions in 15 minutes | Mock test for Quant preparation | Free important questions MCQ to study Quantitative Aptitude for Competitive Examinations for Quant Exam | Download free PDF with solutions
1 Crore+ students have signed up on EduRev. Have you?
Simple Interest - MCQ 4 - Question 1

The simple interest on a sum of money will be rupees 210 after 3 years. In the next 3 years, principal become 4 times, then the total interest at the end of 6 years.

Detailed Solution for Simple Interest - MCQ 4 - Question 1

Answer – b) 1050 Explanation : 210 = P*(r/100)*3 now, SI = 4*p*(r/100)*3 SI = 4*210 = 840. So total SI for 6 years = 840 + 210 = 1050.

Simple Interest - MCQ 4 - Question 2

Rahul earns an income of rupees 1200 when he put rupees 3000 at R% per annum and rupees 4500 at one percent higher than previous. He invests for a period of 5 years. Find the rates of interest

Detailed Solution for Simple Interest - MCQ 4 - Question 2

Answer – c) 13/5 and 18/5 Explanation : 1200 = 3000*(r/100)*5 + 4500*(r+1/100)*5 r = 13/5% and r+1 = 18/5%

Simple Interest - MCQ 4 - Question 3

A sum of 5000 is invested in which the investor gets 800 as simple interest at the rate of 4 percent per annum. To get an interest of 2000 rupees on the same sum in the same number of years, what will be the rate of interest?

Detailed Solution for Simple Interest - MCQ 4 - Question 3

Answer – b) 10% Explanation : 800 = 5000*(4/100)*t, we got t = 4 years now, 2000 = 5000*(r/100)*4, we get r = 10%

Simple Interest - MCQ 4 - Question 4

A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.

Detailed Solution for Simple Interest - MCQ 4 - Question 4

Answer – c) 600 Explanation : 200 = p*(5/100)*10, we get P = 400 so total amount = 400+200 = 600

Simple Interest - MCQ 4 - Question 5

Rakesh borrowed rupees 5000 from a bank ABC at simple interest. He pays bank 3000 rupees at the end of 3 years and again he pays 2500 at the end of 5 years from the date of borrowing, Find the rate of interest charged by bank.

Detailed Solution for Simple Interest - MCQ 4 - Question 5

Answer – b) 50/19 % Explanation : Total money paid by rakesh = 3000 + 2500 = 5500 so total interest paid by rakesh is 500.
For the first three years 5000 will be the principal , then he returns rupees 3000 so fir the next 2 years 2000 will be principal. 500 = 5000*(r/100)*3 + 2000*(r/100)*2, u will get r = 50/19%

Simple Interest - MCQ 4 - Question 6

Some amount of money out of 8000 rupees is lent at 8 percent and remaining at 6 percent per annum. If the total interest obtained from both sum in 4 years is 2400, then find the sum lent at 8 percent rate (approx)

Detailed Solution for Simple Interest - MCQ 4 - Question 6

Answer – a) 6000 Explanation : 2400 = p*(8/100)*4 + (8000 – p)*4*(6/100) p = 6000

Simple Interest - MCQ 4 - Question 7

Two equal amount of sum are deposited in banks at the rate 5 percent per annum. The amount deposited for 3 and 5 years respectively. If the difference between the SI obtained is 120 rupees, then find the sum

Detailed Solution for Simple Interest - MCQ 4 - Question 7

Answer – b) 1200 Explanation : 120 = p*(5/100)*5 – p*(5/100)*3

Simple Interest - MCQ 4 - Question 8

A sum of rupees is divided between three people A, B and C in such a way that after 2 years, 3 years and 4 years respectively the amount they get is equal.The rate of interest is 10 percent. Find the ratio in which the amount is divided.

Detailed Solution for Simple Interest - MCQ 4 - Question 8

Answer – b) 91:84:78 Explanation : Let they get A, B and C rupees initially.
Amount after 2, 3 and 4 years respectively = 6A/5, 13B/10, 7C/5 Ratio=> 6A/5 : 13B/10 : 7C/5 = x (x is any constant) A = 5x/6 , B = 10x/13 and C = 5x/7 So ratio – 91:78:84

Simple Interest - MCQ 4 - Question 9

Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest.After every 3 rd year he added interest to principal. Find the interest earned at the end of 6 year.

Detailed Solution for Simple Interest - MCQ 4 - Question 9

Answer – a) 7800 Explanation : For the first 3 years SI will be = 20000*10/100*3 = 6000 Now he add 3000 to the principal i.e = 20000+6000 = 26000 Now interest earned at end of 6 year = 26000*10/100*3 = 7800

Simple Interest - MCQ 4 - Question 10

The simple interest on a certain sum is 4/9 of the principal and the numbers of years is equal to the rate of interest. The rate of interest is.

Detailed Solution for Simple Interest - MCQ 4 - Question 10

Answer – a) 20/3 Explanation : 4/9*P = P*R/100*R

Simple Interest - MCQ 4 - Question 11

A certain sum of money amounts to rupees 2900 at 4% per annum in 4 years.In how many years will it amount to rupees 5000 at the same rate?

Detailed Solution for Simple Interest - MCQ 4 - Question 11

Answer – d) 25 Explanation : 2900 = p + p*(4/100)*4, p = 2500 5000 = 2500 + 2500*(4/100)*t

Simple Interest - MCQ 4 - Question 12

A sum of money becomes four times at simple interest rate of 5%. At what rate it becomes seven times

Detailed Solution for Simple Interest - MCQ 4 - Question 12

Answer – b) 10% Explanation : 3p = p*(5/100)*t, t = 60 6p = p*(r/100)*60

Simple Interest - MCQ 4 - Question 13

Arya borrows rupees 6000 from a bank at SI. After 4 years she paid Rs 2500 to the bank and at the end of 5 years from the date of borrowing he paid Rs 4560 to settle the account. Find the rate of interest (approx)

Detailed Solution for Simple Interest - MCQ 4 - Question 13

Answer – c) 3.85% Explanation : Total interest she paid = 6000*(r/100)*4 + 3500*(r/100)*1 = 275r total interest = 2500 + 4560 – 6000 = 1060 so 1060 = 275r, r = 3.85% approx

Simple Interest - MCQ 4 - Question 14

A sum of money lent out at simple interest amounts to rupees 840 in 3 years and to rupees 1200 in 8 years. Find the rate of interest

Detailed Solution for Simple Interest - MCQ 4 - Question 14

Answer – b) 11.7/13% Explanation : 1200 = p + p*(r/100)*8 840 = p + p*(r/100)*3 Solve both equations to get r

Simple Interest - MCQ 4 - Question 15

 The simple interest on a certain sum of money at 4% per annum for 5 years is 100 more than the interest on the same sum for 3 years at 5% per annum. Find the sum

Detailed Solution for Simple Interest - MCQ 4 - Question 15

Answer – c) 2000 Explanation : p*(4/100)*5 – p*(5/100)*3 = 100

Simple Interest - MCQ 4 - Question 16

A sum of rupees 4800 is lent out in two parts in such a way that the interest on one part at 10% for 4 years is equal to that on another part at 8% for 7 years.Find the two sums

Detailed Solution for Simple Interest - MCQ 4 - Question 16

Answer – a) 2800, 2000 Explanation : Let first part is A then second will be 4800 – A A*(10/100)*4 = (4800 – A)*(8/100)*7

Simple Interest - MCQ 4 - Question 17

The simple interest on a sum of money will be rupees 400 after 5 years. In the next 5 years the principal is doubled, what will be the total interest at the end of the 10 year

Detailed Solution for Simple Interest - MCQ 4 - Question 17

Answer – c) 1200 Explanation : 400 = p*(r/100)*5, pr = 8000 SI = 2p*(r/100)*5 = pr/10 = 8000/10 = 800 Total interest = 400 + 800 = 1200

Simple Interest - MCQ 4 - Question 18

What annual instalment will discharge a debt of rupees 1060 due in 4 years at 4 % simple interest?

Detailed Solution for Simple Interest - MCQ 4 - Question 18

Answer – b) 250 Explanation : Let each instalment be P, [P + P*(4/100)*3] + [P + P*(4/100)*2] + [P + P*(4/100)*1] + P = 1060

Simple Interest - MCQ 4 - Question 19

Anil borrowed some money at the rate of 5 percent per annum for the first 2 years, 3 percent for the next 4 years and 4 percent per annum beyond 6 years.If the total interest paid by him at the end of 9 years is rupees 3400, how much money did anil borrow.

Detailed Solution for Simple Interest - MCQ 4 - Question 19

Answer – c) 10000 Explanation : 3400 = p*(5/100)*2 + p*(3/100)*4 + p*(4/100)*3 = 3400

Simple Interest - MCQ 4 - Question 20

Saroj invested 20000 rupee in fixed deposit at the rate of 10% simple interest.After every 3 rd year he added interest to principal. Find the interest earned at the end of 6 year.

Detailed Solution for Simple Interest - MCQ 4 - Question 20

Answer – a)7800 Explanation : For the first 3 years SI will be = 20000*10/100*3 = 6000 Now he add 6000 to the principal i.e = 20000+6000 = 26000 Now interest earned at end of 6 year = 26000*10/100*3 = 7800

Use Code STAYHOME200 and get INR 200 additional OFF
Use Coupon Code
Information about Simple Interest - MCQ 4 Page
In this test you can find the Exam questions for Simple Interest - MCQ 4 solved & explained in the simplest way possible. Besides giving Questions and answers for Simple Interest - MCQ 4, EduRev gives you an ample number of Online tests for practice