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- Question
A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6¼% p.a for 2 years. Find his gain in the transaction per year.
Options- A. Rs. 112.50
- B. Rs. 125
- C. Rs. 225
- D. Rs. 167.50
- Correct Answer
- Rs. 112.50
ExplanationGain in 2 years = Rs. [ ❨ 5000 x 25 x 2 ❩ - ❨ 5000 x 4 x 2 ❩ ] 4 100 100 = Rs. (625 - 400) = Rs. 225. ∴ Gain in 1 year = Rs. ❨ 225 ❩ = Rs. 112.50 2 - 1. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
Options- A. Rs. 35
- B. Rs. 245
- C. Rs. 350
- D. Cannot be determined
- E. None of these Discuss
- 2. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
Options- A. 3.6%
- B. 4.5%
- C. 5%
- D. 6%
- E. None of these Discuss
- 3. A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
Options- A. Rs. 2000
- B. Rs. 10,000
- C. Rs. 15,000
- D. Rs. 20,000 Discuss
- 4. 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 Discuss
- 5. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
Options- A. 5%
- B. 7%
- C. 7 1⁄8%
- D. 10% Discuss
- 6. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
Options- A. 1 : 3
- B. 1 : 4
- C. 2 : 3
- D. Data inadequate
- E. None of these Discuss
- 7. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?
Options- A. Rs. 2000
- B. Rs. 2200
- C. Rs. 2400
- D. Data inadequate Discuss
- 8. If selling price is doubled, the profit triples. Find the profit percent.
Options- A. 66 2⁄3
- B. 100
- C. 105 1⁄3
- D. 120 Discuss
- 9. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
Options- A. 3.5
- B. 4.5
- C. 5.6
- D. 6.5 Discuss
- 10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:
Options- A. 30%
- B. 331⁄3%
- C. 35%
- D. 44% Discuss
Simple Interest problems
Search Results
Correct Answer: Cannot be determined
Explanation:
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.
Correct Answer: None of these
Explanation:
Let the original rate be R%. Then, new rate = (2R)%.
Note:
Here, original rate is for 1 year(s); the new rate is for only 4 months i.e. ⅓ year(s).
| ∴ | ❨ | 725 x R x 1 | ❩ | + | ❨ | 362.50 x 2R x 1 | ❩ | = 33.50 |
| 100 | 100 x 3 |
⟹ (2175 + 725) R = 33.50 x 100 x 3
⟹ (2175 + 725) R = 10050
⟹ (2900)R = 10050
| ⟹ R = | 10050 | = 3.46 |
| 2900 |
∴ Original rate = 3.46%
Correct Answer: Rs. 15,000
Explanation:
| Principal = Rs. | ❨ | 100 x 5400 | ❩ | = Rs. 15000. |
| 12 x 3 |
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%
Correct Answer: 10%
Explanation:
Let the rate be R% p.a.
| Then, | ❨ | 5000 x R x 2 | ❩ | + | ❨ | 3000 x R x 4 | ❩ | = 2200. |
| 100 | 100 |
⟹ 100R + 120R = 2200
| ⟹ R = | ❨ | 2200 | ❩ | = 10. |
| 220 |
∴ Rate = 10%.
Correct Answer: 2 : 3
Explanation:
Let the principal be P and rate of interest be R%.
| ∴ Required ratio = |
|
= | 6PR | = | 6 | = 2 : 3. | ||||
|
9PR | 9 |
Correct Answer: Rs. 2000
Explanation:
Let C.P. be Rs. x.
| Then, | 1920 - x | x 100 = | x - 1280 | x 100 |
| x | x |
⟹ 1920 - x = x - 1280
⟹ 2x = 3200
⟹ x = 1600
| ∴ Required S.P. = 125% of Rs. 1600 = Rs. | ❨ | 125 | x 1600 | ❩ | = Rs 2000. |
| 100 |
Correct Answer: 100
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
Then, 3(y - x) = (2y - x) ⟹ y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
| ∴ Profit % = | ❨ | x | x 100 | ❩% = 100% |
| x |
Correct Answer: 5.6
Explanation:
| Cost Price of 1 toy = Rs. | ❨ | 375 | ❩ | = Rs. 31.25 |
| 12 |
Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
| ∴ Profit % = | ❨ | 1.75 | x 100 | ❩% | = | 28 | % = 5.6% |
| 31.25 | 5 |
Correct Answer: 44%
Explanation:
Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.
| C.P. of 30 articles = Rs. | ❨ | 5 | x 30 | ❩ | = Rs. 25. |
| 6 |
| S.P. of 30 articles = Rs. | ❨ | 6 | x 30 | ❩ | = Rs. 36. |
| 5 |
| ∴ Gain % = | ❨ | 11 | x 100 | ❩% = 44%. |
| 25 |
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