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 at the rate of 10%, the effective rate interest becomes Aptitude Topic: Simple Interest and Compound Interest Study Material
Problems on Simple Interest and Compound Interest Foundation
MODERATE
HOTS-HIGH ORDER THINKING SKILLS
SOLUTIONS FOUNDATION 1. Answer: Option C Explanation: S.I. for 1 year = Rs. (854 – 815) = Rs. 39. S.I. for 3 years = Rs.(39 x 3) = Rs. 117. 2. Answer: Option A Explanation: Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 – x).
28x – 22x = 350800 – (13900 x 22) 6x = 45000 x = 7500. So, sum invested in Scheme B = Rs. (13900 – 7500) = Rs. 6400. 3. Answer: Option D Explanation:
4. Answer: Option B Explanation:
5. Answer: Option B Explanation: Let rate = R% and time = R years.
12R2 = 432 R2 = 36 R = 6. MODERATE 1. Answer: Option D Explanation: S.I. = Rs. (15500 – 12500) = Rs. 3000.
2. Answer: Option B Explanation: Let the sum be Rs. 100. Then,
So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25 3. Answer: Option B Explanation:
4. Answer: Option A Explanation: Let the sum be Rs. x. Then,
x = 625. 5. Answer: Option C Explanation: Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
SOLUTIONS FOUNDATION 1. Answer: Option C Explanation: S.I. for 1 year = Rs. (854 – 815) = Rs. 39. S.I. for 3 years = Rs.(39 x 3) = Rs. 117. 2. Answer: Option A Explanation: Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 – x).
28x – 22x = 350800 – (13900 x 22) 6x = 45000 x = 7500. So, sum invested in Scheme B = Rs. (13900 – 7500) = Rs. 6400. 3. Answer: Option D Explanation:
4. Answer: Option B Explanation:
5. Answer: Option B Explanation: Let rate = R% and time = R years.
12R2 = 432 R2 = 36 R = 6. MODERATE 1. Answer: Option D Explanation: S.I. = Rs. (15500 – 12500) = Rs. 3000.
2. Answer: Option B Explanation: Let the sum be Rs. 100. Then,
So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25 3. Answer: Option B Explanation:
4. Answer: Option A Explanation: Let the sum be Rs. x. Then,
x = 625. 5. Answer: Option C Explanation: Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
HOTS-HIGH ORDER THINKING SKILLS 1. Answer: Option A Explanation:
2. Answer: Option A Explanation: Amount = Rs. (30000 + 4347) = Rs. 34347. Let the time be n years.
3. Answer: Option C Explanation:
4. Answer: Option A Explanation: Let the rate be R% p.a.
R = 6% 5. Answer: Option B Explanation:
So, n = 4 years. |