1.  Vandana bought a watch for 600 and sold it the same day for 688.50 at a credit of 9 months and this way she gained 2%. Find the rate of interest per annum?


5^2/3%
11^2/3%
15^2/3%
16^2/3%


Answer

 Option

SP = 102% of 600 = (102/100) x 600 =612 Now, PW =612 and sum =688.50 ∴ TD = 688.50 - 612 = 76.50 Thus, SI on 612 for 9 months is 76.50. ∴ Rate = (100 x 76.50) / (612 x 3/4) = (100 x 76.50) / (153 x 3) =16^2/3%

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2.   If the interest on Rs. 50 at 41/2 be equal to the discount on Rs. 59 for the same time and at the same rate when is the latter sum due ?


2 years
4 years
3 years
6 years


Answer

 Option

∵ 9/2 = [(59 - 50) x 100] / 50 x T ∴ T = 4 years

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3.  Find the present worth of a bill of Rs. 2420 due 2 years later at 10% compound interest. Also find the true discount ?


Rs. 2000, Rs. 420
Rs. 2200, Rs. 520
Rs. 2100, Rs. 460
None of these


Answer

 Option

Here sum is put on compound interest, ∵ P.W. = A / (1 + r / 100)n = 2420 / (1 + 10 / 100)2 = 2420 x 100 / 121 = Rs. 2000 ⇒ T.D. = P.W. - P ∴ True discount = 2420 - 2000 = Rs. 420

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4.  The true discount on Rs. 340 due 5 years hence is Rs. 40. Find the rate percent?


3^2/3%
3^1/3%
2^2/3%
3%


Answer

 Option

T.D. = [Amount x R x T] / [100 + (R x T)] ⇒ 40 = [340 x R x 5] / [100 + 5R] ⇒ 40 = (1700 x R) / (100 + 5R) ∴ R = 2^2/3%;

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5.  If the discount on Rs. 3050 be equal to the simple interest on Rs. 3000 for the same time. Find the time, the rate of interest being 5% per annum ?


4 months
6 months
3 months
None of these


Answer

 Option

∵ 5 = {(3050 - 3000) / (3000 x T)} x 100 ∴ T = 1/3 years = 4 months

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