Showing 21–30 of 429 questions
If ₹5,000 is invested at 12% simple interest for 2.5 years, what will be the total amount?
A
₹6,500
B
₹6,250
C
₹6,750
D
₹7,000
Correct Answer:
A. ₹6,500
EXPLANATION
SI = (5000 × 12 × 2.5)/100 = 1500. Amount = 5000 + 1500 = 6500
A sum of money at simple interest becomes double of itself in 10 years. At what rate per annum is the interest charged?
A
8% p.a.
B
10% p.a.
C
12% p.a.
D
15% p.a.
Correct Answer:
B. 10% p.a.
EXPLANATION
If amount = 2P, then SI = P. Using P = (P × R × 10)/100; 100 = 10R; R = 10% p.a.
A merchant invested ₹24,000 at 8.5% simple interest. How much interest will he earn in 4 years?
A
₹8,160
B
₹8,320
C
₹8,480
D
₹8,640
Correct Answer:
A. ₹8,160
EXPLANATION
SI = (24000 × 8.5 × 4)/100 = 8160
In how many years will ₹9,000 become ₹11,700 at 15% simple interest per annum?
A
1.5 years
B
2 years
C
2.5 years
D
3 years
Correct Answer:
B. 2 years
EXPLANATION
SI = 11700 - 9000 = 2700. Using T = (SI × 100)/(P × R) = (2700 × 100)/(9000 × 15) = 2 years
What rate of simple interest per annum will ₹7,200 amount to ₹8,640 in 2 years?
A
8% p.a.
B
10% p.a.
C
12% p.a.
D
15% p.a.
Correct Answer:
B. 10% p.a.
EXPLANATION
SI = 8640 - 7200 = 1440. Using SI = (P × R × T)/100; 1440 = (7200 × R × 2)/100; R = 10%
A sum becomes ₹5,500 in 3 years and ₹6,000 in 5 years at simple interest. Find the principal amount.
A
₹4,000
B
₹4,500
C
₹3,750
D
₹4,250
Correct Answer:
A. ₹4,000
EXPLANATION
SI for 2 years = 6000 - 5500 = 500. SI per year = 250. SI for 3 years = 750. Principal = 5500 - 750 = 4000
A factory's production increased from 2,000 units to 2,500 units. What is the percentage increase?
EXPLANATION
Increase = 2,500 - 2,000 = 500. Percentage = (500/2,000) × 100 = 25%
A person spends 25% of his income on rent, 20% on food, and 15% on transport. If remaining income is ₹8,000, what is his total income?
A
₹16,000
B
₹18,000
C
₹20,000
D
₹25,000
Correct Answer:
C. ₹20,000
EXPLANATION
Total spent = 25% + 20% + 15% = 60%. Remaining = 40% = ₹8,000. Total income = 8,000/0.40 = ₹20,000
What is the compound interest on ₹10,000 at 10% per annum for 2 years?
A
₹2,000
B
₹2,100
C
₹2,200
D
₹2,500
Correct Answer:
B. ₹2,100
EXPLANATION
A = 10,000(1.10)² = 10,000 × 1.21 = ₹12,100. CI = 12,100 - 10,000 = ₹2,100
₹5,000 is invested at 8% per annum simple interest for 3 years. What is the total amount?
A
₹6,000
B
₹6,200
C
₹6,500
D
₹7,000
Correct Answer:
B. ₹6,200
EXPLANATION
SI = (5000 × 8 × 3)/100 = 1,200. Total = 5,000 + 1,200 = ₹6,200
