1.  Simple Interest for the sum of Rs.1230 for two year is Rs.10 more than the SI for Rs.1130 for the same duration. Find the Rate of Interest?


3%
5%
4%
6%


Answer

 Option

(1230*2*R)/100 – (1130*2*R)/100 = 10 R=5%

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2.  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:


123
122
121
120


Answer

 Option

.Amount = Rs. [1600×(1+ 5/200)^2 + 1600 × (1+5/200)] = Rs. 3321 So CI = Amount- Principal = Rs. 3321 – Rs. 3200 = Rs. 121

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3.  Bhavika took a loan of Rs. 1200 with simple interest for as many years as the rate of interest.If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?


3.6
5
6
25


Answer

 Option

.Let rate = r% and time = r years Then (1200×r×r)/100= 432 12 r^2= 432 r=6 %

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4.  Hari borrowed some money for one year at 6% per annum simple interest and after 18 months , he again borrowed the same money at a Simple Interest of 24% per annum. In both the cases, he paid Rs.4704. Which of the following could be the amount that was borrowed by Hari in each case if interest is paid half yearly?


3900
3800
4200
4500


Answer

 Option

12% for 6 months x = Borrowed money Take x =100% 112% of x = 4704 x = 4200

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5.  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


1100
1200
1300
1400


Answer

 Option

120 = p*(5/100)*5 – p*(5/100)*3

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