1.  A has to pay Rs.220 to B after 1 year.B asks A to pay Rs.110 in cash and defer the payment of Rs.110 for 2 years.A agrees to it.If the rate of interest be 10% per annum in this mode of payment?


There is no gain or loss to anyone
A gains Rs.7.34
A losses Rs.7.34
A gains Rs.11


Answer

 Option

A has to pay = P.W. of rs.220 due 1 year hence = Rs.[220*100/100+(10*1)] = Rs. 200 A actually pays =Rs.110+P.W of Rs. 110 due 2 years hence, =[110+110*100/100+(10*2)] = Rs.192.66 A gains = Rs.(200-192.66) = Rs.7.34

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2.  A owes B, Rs.1573 payable 1 1/2 years hence.Also B owes A, Rs.1444.50 payable 6 months hence.If they want to settle the account forthwith keeping 14% as the rate of interest then who should pay and how much?


Rs.28.50
Rs.37.50
Rs.50
Rs.50


Answer

 Option
Option

A owes = P.W of rs.1573 due 3/2 years hence =Rs.[1573*100/100+(14*3/2)] = Rs.(1573*100/121) =Rs.1300 B owes = P.W of Rs.1444.50 due 6 months hence =Rs.[1444.50*100/100+(14*1/2) = Rs.(1444.50*100/107) = Rs.1350 B must pay Rs.50 to A

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3.  The difference between the simple interest and the true discount on a certain sum for 6 months at 4% is Rs. 15. Find the sum?


Rs. 38350
Rs. 38250
Rs. 28250
Rs. 32850


Answer

 Option

∵ 15 = [A x (4 x 1/2)2] / [100(100 + 4 x 1/2)] ⇒ 15 = (A x 4) / (100 x 102) ⇒ A = 15 x 25 x 102 ∴ A = Rs. 38, 250.

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4.  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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5.   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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