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


300
250
350
450


Answer

 Option

Let each instalment be P, [P + P*(4/100)*3] + [P + P*(4/100)*2] + [P + P*(4/100)*1] + P = 1060

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2.  Vikram borrows a sum of Rs.1500 at the beginning of a year. After four months Rs.2100 more is borrowed at a rate of interest double the previous one. At the end of one year, the sum of interest on both the loans is Rs.416. What is the first rate of interest per annum?


6.4%
7.3%
8%
9%


Answer

 Option

P = 1500 Rate of Interest = x SI = 1500x/100 = 15x P = 2100 Rate of Interest = 2x SI = 4200x/100 = 42x 57x = 416 x = 7.3%

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3.  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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4.  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 10th year


800
1000
1200
1600


Answer

 Option

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

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5.  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.


1000
1050
1500
950


Answer

 Option

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.

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