Question 1

A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments withan initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, thenwhat would be the installment charged for each month?

Accepted Answer

A)  rs. 4000
B)  rs. 4106.67
C)  rs. 4050.33
D)  rs. 4066.01 D

Question 2

Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?

Accepted Answer

A)  rs. 5250
B)  rs. 6550
C)  rs. 6400
D)  rs. 5500 D

Question 3

What time will be taken by an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

Accepted Answer

A)  2 years
B)  1 years
C)  3 years
D)  4 years A

Question 4

In 40 years an amount becomes 6 times the original amount. What is the rate of interest?

Accepted Answer

A)  12.5%
B)  24%
C)  6.67%
D)  34%

Question 5

Rs. 20400 was divided in two parts and then invested. One part invested at 6.25% for 8 yearsyields the same interest as the other part invested at 7% for 5 years. What is the value of smallerpart?

Accepted Answer

A)  9600
B)  8400
C)  10100
D)  6500

Question 6

Find the simple interest on Rs. 78000 at 15(2/5) % per annum for 9 months.

Accepted Answer

A)  rs. 7804
B)  rs. 8979
C)  rs. 8046
D)  rs. 9009

Question 7

In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is

Accepted Answer

A)  4%
B)  4(1/2) %
C)  9%
D)  10%

Question 8

A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.

Accepted Answer

A)  rs. 4900
B)  rs. 5000
C)  rs. 5200
D)  rs. 5600

Question 9

r. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.

Accepted Answer

A)  rs. 4,900
B)  rs. 5,000
C)  rs. 5,100
D)  rs. 5266

Question 10

Simple interest at x% for x years will come out to be Rs x on a sum of Rs?

Accepted Answer

A)  x
B)  100/x
C)  100/x2
D)  100x

Question 11

Operation research approach is

Accepted Answer

A)  multi-disciplinary
B)  artificial
C)  intuitive
D)  all of the above

Question 12

Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find thedifference between the two parts of his salary, if in first part he got some simple interest at 15%per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.

Accepted Answer

A)  rs. 0
B)  rs. 2400
C)  rs. 100
D)  rs. 4500

Question 13

In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?

Accepted Answer

A)  6.3 years
B)  8.2 years
C)  9 years
D)  12 years

Question 14

A man got Rs. 130 less, as simple interest, when he invested Rs. 2000 for 4 years as compared to investing Rs. 2250 for same duration. What is the rate of interest?

Accepted Answer

A)  12%
B)  13%
C)  12.5%
D)  10.50%

Question 15

1/5 part of an amount was given at 3% simple interest, 1/3 part was given at 5% simpleinterest, 2/5 parts at 9% simple interest and remaining part at 11% simple interest. The totalinterest received was Rs.297. How much amount was originally given?

Accepted Answer

A)  4500
B)  5500
C)  3950
D)  4200

Question 16

certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the samesum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate ofinterest?

Accepted Answer

A)  5% p.a.
B)  7.5% p.a.
C)  10% p.a.
D)  12.5% p.a.

Question 17

Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interestdoes Raj get?

Accepted Answer

A)  rs. 3750
B)  rs. 6250
C)  rs. 3125
D)  rs. 4250

Question 18

What is the minimum number of years upon which SI on Rs 2600 at 6.67% interest rate will be in whole number?

Accepted Answer

A)  2
B)  6
C)  3
D)  4

Question 19

An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.

Accepted Answer

A)  20 years
B)  18.75 years
C)  22.50 years
D)  21.50 years

Question 20

Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of firsttwo years, next three years and beyond the period of five years respectively. If at the end of nineyears, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.

Accepted Answer

A)  rs. 9,000
B)  rs.14,000
C)  rs.15,000
D)  rs.18,000

Exam 4: Simple Interest and Installment Calculations