Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is

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INSURANCE EXAMS (LIC) 2013 click here to view all questions

Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is

A$\text{4%}$

B$\text{6%}$

C$\text{4.5%}$

D$\text{6.5%}$

upendra ? undefined

Correct answer is: \(\text{4%}\)

Explanation:

Simple interest on a certain sum at a certain annual rate of interest is 16% of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is:

\(\text{Given: Simple interest } (SI) = 16\% \text{ of the sum} \)

\(SI = \frac{P \times R \times T}{100} \)

\(\frac{16P}{100} = \frac{P \times R \times R}{100} \)

\(16 = R^2\)

\(R = \sqrt{16}\)

\(R = 4\)

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A sum of money at simple interest amounts to Rs. 14,160 in 3 years. If the rate of interest is increased to 25%, the same sum amounts to Rs. 14,700 in the same time. The rate of interest is 5% $5 \frac{1}{2}$ 6% 7%

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INSURANCE EXAMS (New India Assurance) 2011 click here to view all questions

A sum of money at simple interest amounts to Rs. 14,160 in 3 years. If the rate of interest is increased to 25%, the same sum amounts to Rs. 14,700 in the same time. The rate of interest is

A$\text{5%}$

B$5 \frac{1}{2}$

C$\text{6%}$

D$\text{7%}$

upendra ? undefined

Correct answer is: 6%

Explanation:

\(\Large P+\frac{Pr \times 3}{100} = 14160\)

\(\Large P + P \times \frac{5r}{400} \times 3 = 14700\)

\(\left[ Rate\ of\ Int. = r + \frac{25}{100} r \right]\)

(By Ii) and (ii)

\(\Large P + \frac{5}{4} \left(14160-P\right)\)

\(=> 4P + 70800 - 5P = 58800\)

\(=> P = 70800 - 58800 - 12000\)

\(\text{Therefore, From equation (i),}\)

\(\Large 12000+\frac{12000 \times r \times 3}{100}\)

\(\Large 120 \times 3 \times r = 14160 - 12000 = 2160\)

\(=> \Large r = \frac{2160}{120 \times 3}\)

\(r = 6 \text{%}\)

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Veena obtained an amount of Rs. 8,376 as simple interest on a certain amount at 8 p.c.p.a. after 6 years. What is the amount invested by Veena ?

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BANK PO Exam (SBI) 2008 click here to view all questions

Veena obtained an amount of Rs. 8,376 as simple interest on a certain amount at 8 p.c.p.a. after 6 years. What is the amount invested by Veena ?

ARs.17,180

BRs. 18,110

CRs. 16,660

DRs. 17,450

upendra ? undefined

Correct answer is: Rs. 17,450

Explanation:

\(\eqalign{ & {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.8376}} \cr & {\text{R}} = 8\% \cr & {\text{T}} = {\text{6}}\,{\text{years}}. \cr & \therefore {\text{Sum}} = \cr & {\text{Rs}}{\text{.}}\left( {\frac{{100 \times 8376}}{{8 \times 6}}} \right) \cr & = {\text{Rs}}{\text{. }}17450 \cr}\)

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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 ?

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BANK PO Exam (SBI) 2007 click here to view all questions

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 ?

ARs. 35/-

BRs. 350/-

CRs. 245/-

DCannot be determined

upendra ? undefined

Correct answer is: 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.

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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 ?

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BANK PO Exam (SBI) 2006 click here to view all questions

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 ?

ARs. 1020.8

BRs. 1025

CRs. 1025

DData inadequate

upendra ? undefined

Correct answer is: Rs. 1025

Explanation:

SI = 956 – 800 = 156 Rs.

\(\therefore Rate = \frac{SI\times 100}{Prin.\times Time}\)

\(= \frac{156\times 100}{800\times 3} = 6.5\%\ per\ annum\)

\(\text{∴ New rate = 10.5% }\)

\(\therefore SI = \frac{PRT}{100}\)

\(\frac{800\times 3\times 10.5}{100} = 252\ Rs.\)

\(∴ Amount = 800 + 252 = 1052 Rs.\)

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