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Home Aptitude Simple Interest Comments

  • Question
  • An amount doubles itself in 15 years. what is the rate of interest ?


  • Options
  • A. 7.85 %
  • B. 9.41%
  • C. 6.66 %
  • D. 4.21 %

  • Correct Answer
  • 6.66 % 

    Explanation

    Let the principle be Rs. P
    As the amount double itself the interest is Rs. P too
    So P = P x r x 15/100
    => r = 100/15 = 20/3 % = 6.66 %.

  • Tags: AIEEE, Bank Exams, CAT, GATE, GRE, Bank Clerk, Bank PO

    Simple Interest problems


    Search Results


    • 1. Question : What is the sum which earned interest ? Statements : a. The total simple interest was Rs. 9000 after 9 years. b. The total of sum and simple interest was double of the sum after 6 years.

    • Options
    • A. Only a is sufficient
    • B. Neither a nor b is sufficient
    • C. Only b is sufficient
    • D. Both a and b sufficient
    • Discuss
    • 2. Find the principal which yields $25,000 when invested at 3% annually for 20 years.

    • Options
    • A. 13841.89
    • B. 14821
    • C. 13468
    • D. 57389
    • Discuss
    • 3. A merchant receives an invoice for a motor boat for $20 000 with terms 4/30, n/100. What is the highest simple interest rate at which he can afford to borrow money in order to take advantage of the discount?

    • Options
    • A. 247.67
    • B. 237.67
    • C. 227.67
    • D. 215.67
    • Discuss
    • 4. How long will it take $3000 to earn $60 interest at 6%?

    • Options
    • A. 2months
    • B. 3months
    • C. 4months
    • D. 5months
    • Discuss
    • 5. loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan was taken out on April 7 and is due in seven months

    • Options
    • A. 13615.52
    • B. 14615.52
    • C. 15615.52
    • D. 16615.52
    • Discuss
    • 6. Althaf borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12% ?

    • Options
    • A. Rs. 300
    • B. Rs. 400
    • C. Rs. 1200
    • D. Rs. 1100
    • Discuss
    • 7. Raghu has invested Rs. 1000 and received Rs. 1300 at 6% per annum simple interest after X years. Find thevalue of X.

    • Options
    • A. 4 years
    • B. 3 years
    • C. 2 years
    • D. 5 years
    • Discuss
    • 8. A man lent a sum of money at the rate of simple interest of 4%. If the interest for 8 years is Rs 340 less than the principal, the principal is

    • Options
    • A. Rs 500
    • B. Rs 520
    • C. Rs 540
    • D. Rs 560
    • Discuss
    • 9. A sum was invested for 3 years at simple interest at a certain rate. Had it been invested at 4% higher rate of interest, it would have fetched Rs 600 more. The sum is

    • Options
    • A. Rs 4000
    • B. Rs 4950
    • C. Rs 5000
    • D. Rs 5150
    • Discuss
    • 10. How much simple interest will Rs. 4000 earn in 18 months at 12% per annum?

    • Options
    • A. Rs.216
    • B. Rs.360
    • C. Rs.720
    • D. Rs.960
    • Discuss


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