Arithmetic: Simple Interest Test -4

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Arithmetic: Simple Interest Test-4

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Question 1

What total amount would Mithilesh get at the end of three years if he invests an amount of Rs.11, 200 in a scheme which offers simple interest at the rate of 8.5 p. c. p. a. for three years?

A	Rs.14, 056
B	Rs.14, 348
C	Rs.13, 852
D	Rs.15, 064

Question 1 Explanation:

Principal = Rs. 11,200.
Amount = Rs. 11,200 X (1+.085 X 3) = Rs. 14056.
Correct option is (a)

Question 2

Ravi borrowed some money at the rate of 4 p.c.p.a. for the first three years, at the rate of 8 p.c.p.a. for the next two years and at the rate of 9 p.c.p.a. for the period beyond 5 years. If he pays a total simple interest of Rs.19, 550 at the end of 7 years, how much money did he borrow?

A	Rs.39, 500
B	Rs.42, 500
C	Rs.41, 900
D	Rs.43, 000

Question 2 Explanation:

Let the principal be Rs. y
(y X 0.4 X 0.3)+ (y X 0.8 X 0.2)+( y X 0.9 X 0.2)= 19550
= 0.12y + 0.16y + 0.18y = 19550
= 46y = 19550 × 100
=y = Rs. 42,500.

Question 3

Srinivasan invests two equal amounts in two banks giving 10% and 12% rate of interest respectively. At the end of year the interest earned is Rs.1650/-. Find the sum invested in each.

A	Rs.8, 500/-
B	Rs.15, 000/-
C	Rs.7, 500/-
D	Rs.17, 000/-

Question 3 Explanation:

Let the principal invested be Rs. 2x.
Therefore, 0.10x+0.12x =1650
=> 0.22x =1650
x = 1650/0.22 = Rs. 7500

Question 4

Rs.800 becomes Rs.956 in 3 years at certain simple rate of interest. If the rate of interest is increased by 4%, what amount will Rs.800 become in 3 years?

A	Rs.1020.8
B	Rs.1025
C	Rs.1052
D	Data inadequate

Question 4 Explanation:

The S.I in 3 years is = Rs. 956-800 = Rs. 156.
S.I in 1 year is = Rs. 156/3 = Rs. 52.
Rate = (52/800) x 100 =6.5%
Increased amount = 6.5+4 =10.5 %
New amount is Rs. 800 (1+0.315) = 800 x 1.315 =Rs. 1052.

Question 5

A certain amount earns simple interest of Rs.1, 750/- after 7 years. Had the interest been 2% more, how much more interest would it have earned?