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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 includes the interest every six months for calculating the principal. If he is charging an interest of 10%, 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 = Rs. 5
    100 x 2

    S.I. for last 6 months = Rs. 105 x 10 x 1 = Rs. 5.25
    100 x 2

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

    ∴ Effective rate = (110.25 - 100) = 10.25%


  • More questions

    • 1. 
      A and B together can complete a work in 3 days. They started together but after 2 days, B left the work. If the work is completed after 2 more days, B alone could do the work in how many days?

    • Options
    • A. 5
    • B. 6
    • C. 7
    • D. 10
    • Discuss
    • 2. 
      A wheel makes 1000 revolutions in covering a distance of 88 km. the diameter of the wheel is?

    • Options
    • A. 24 meters
    • B. 40 meters
    • C. 28 meters
    • D. 14 meters
    • Discuss
    • 3. 25, 36, 49, 81, 121, 169, 225

    • Options
    • A. 36
    • B. 49
    • C. 121
    • D. 169
    • Discuss
    • 4. 
      (.896 x .752 +.896 x .248) / (.7 x .034 + .7 x.966) =?

    • Options
    • A. 1.28
    • B. 0.976
    • C. 12.8
    • D. 9.76
    • Discuss
    • 5. 
      Einstein goes from Ahmedabad To Lucknow at the speed of 40 km/hr and returned at the speed of 60 km/hr .the average speed of Einstein during the whole journey is

    • Options
    • A. 48 km/hr
    • B. 24 km/hr
    • C. 50 km/hr
    • D. none of these
    • Discuss
    • 6. 
      Today is Monday. After 61 days, it will be

    • Options
    • A. Wednesday
    • B. Saturday
    • C. Tuesday
    • D. Thursday
    • Discuss
    • 7. 9548 + 7314 = 8362 + (?)

    • Options
    • A. 8230
    • B. 8410
    • C. 8500
    • D. 8600
    • E. None of these
    • Discuss
    • 8. 
      The true discount on a certain sum due 1 yr hence at 30% per annum, is ? 240. What is the banker' discount on the same sum for the same time and at the same rate?

    • Options
    • A. ? 400
    • B. ? 212
    • C. ? 312
    • D. ? 445
    • Discuss
    • 9. 
      Calendar of month July is same as that of which month of previous year.

    • Options
    • A. May
    • B. September
    • C. April
    • D. None of these
    • Discuss
    • 10. 
      A coin is successively tossed two times. Find the probability of getting? (1) exactly one head (2)at least one head

    • Options
    • A. 1/2 , 3/4
    • B. 2/3, 1/4
    • C. 1/4, 4/5
    • D. 1/2, 2/3
    • Discuss


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