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Home Aptitude Simple Interest See What Others Are Saying!
  • Question
  • An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:


  • Options
  • A. 10%
  • B. 10.25%
  • C. 10.5%
  • D. none of these

  • Correct Answer
  • 10.25% 

    Explanation

    Let the sum be Rs. 100. Then,

    S.I. for first 6 months = Rs.[ (100 x 10 x 1)/(100 x 2) ]= Rs.5

    S.I. for last 6 months =Rs.[(102 x 10 x 1)/(100 x 2) ] = Rs.5.25

    So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

    Effective rate = (110.25 - 100) = 10.25%

  • Tags: GRE

    More questions

    • 1. The age of father 10 years ago was thrice the age of his son. Ten years hence, father's age will be twice that of his son. The ratio of their present ages is:

    • Options
    • A. 5 : 2
    • B. 7 : 3
    • C. 9 : 2
    • D. 13 : 4
    • Discuss
    • 2. 
      19 5 + 21 5 is divisible by

    • Options
    • A. Only 10
    • B. Only 20
    • C. Both 10 and 20
    • D. Neither 10 nor 20
    • Discuss
    • 3. A man on tour travels first 160 km at 64 km/hr and the next 160 km at 80 km/hr. The average speed for the first 320 km of the tour is:

    • Options
    • A. 35.55 km/hr
    • B. 36 km/hr
    • C. 71.11 km/hr
    • D. 71 km/hr
    • Discuss
    • 4. 
      A train takes 24 sec to cross a 480 m platform and 36 sec to cover a 900 m platform. what is the length of the train?

    • Options
    • A. 360 m
    • B. 400 m
    • C. 390 m
    • D. 430 m
    • Discuss
    • 5. 
      The numbers are such that the square of one is 224 less than 8 times the square of the other. If the numbers be in the ratio 3 : 4, the numbers are

    • Options
    • A. 3 , 6
    • B. 4 , 8
    • C. 6 , 8
    • D. 6 , 4
    • Discuss
    • 6. 
      The value of (
      2 3
      ) 2/3 x (
      3 3
      ) is :
      3 2 2 2

    • Options
    • A. 64/3
    • B. 82/3
    • C. 62/3
    • D. 91/3
    • Discuss
    • 7. A can lay railway track between two given stations in 16 days and B can do the same job in 12 days. With help of C, they did the job in 4 days only. Then, C alone can do the job in:

    • Options
    • A.

      9 1 days
      5

    • B.

      9 2 days
      5

    • C.

      9 3 days
      5

    • D. 10
    • Discuss
    • 8. 
      How many numbers can be formed from 1, 2, 3, 4, 5, ( without repetition), when the digit at the unit's place must be greater than that in the ten's place?

    • Options
    • A. 54
    • B. 60
    • C. 51/3
    • D. 2 x 4!
    • Discuss
    • 9. 
      A, B , C , and D are four towns, any three of which are non-collinear. Then, the number of ways to construct three roads each joining a pair of towns, so that the roads do not form a triangle, is?

    • Options
    • A. 7
    • B. 8
    • C. 9
    • D. 24
    • Discuss
    • 10. 
      An intelligence agency forms a code of two distinct digits selected from 0, 1, 2,....., 9 such that the first-digit of code is non-zero. The code, handwritten on a slip, can however potentially create confusion when read upside down, for examples the code 91 may appear as 16. how many codes are there for which no such confusion can arise?

    • Options
    • A. 80
    • B. 78
    • C. 71
    • D. 69
    • Discuss


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