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Question 1 of 5
1. Question
Raju has some amount of money and he invested 60% of that amount in simple interest at the rate of 24% per annum for 2 years and he invested the remaining amount in compound interest at the rate of 10% per annum for 2 years. From the given statement in the above question which of the following can be determined.
- Amount invested by Raju?
- If the difference between the simple and compound interest received by Raju is Rs.1530, then find the amount invested in simple interest?
- The amount invested in simple interest is Rs.1500 more than the amounts invested in compound interest, then find the interest received from simple interest?
- Overall interest received by Raju?
Correct
Answer: D
Expanation
Let the total amount invested by Raju = 5x
The amount invested in simple interest=5x*60/100=5x*3/5 = 3x
The amount invested in compound interest =5x3x=2x
Interest received by
Raju=3x*24*2/100+[2x*(1+10/100)2-2x]
From option (1)
The amount invested in simple interest=5x*60/100=5x*3/5=3x
The amount invested in compound interest=5x3x=2x This does not satisfy the given condition.
From option (2)
3x*24*2/100-[2x*(1+10/100)2-2x]=1530
1.44x-[2x*1.21-2x]=1530
1.44x-2.42x+2x=1530
1.02x=1530
x=1500
The amount invested in simple interest=3*1500=Rs.4500 This satisfies the given condition.
From option (3)
The amount invested in simple interest=1500*3x/(3x-2x)=Rs.4500
Interest received in simple interes t= 4500*24*2/100 =Rs.2160 This satisfies the given condition.
From option (4)
Interest received by Raju =3x*24*2/100+[2x*(1+10/100)2-2x] This does not satisfy the given condition.
Incorrect
Answer: D
Expanation
Let the total amount invested by Raju = 5x
The amount invested in simple interest=5x*60/100=5x*3/5 = 3x
The amount invested in compound interest =5x3x=2x
Interest received by
Raju=3x*24*2/100+[2x*(1+10/100)2-2x]
From option (1)
The amount invested in simple interest=5x*60/100=5x*3/5=3x
The amount invested in compound interest=5x3x=2x This does not satisfy the given condition.
From option (2)
3x*24*2/100-[2x*(1+10/100)2-2x]=1530
1.44x-[2x*1.21-2x]=1530
1.44x-2.42x+2x=1530
1.02x=1530
x=1500
The amount invested in simple interest=3*1500=Rs.4500 This satisfies the given condition.
From option (3)
The amount invested in simple interest=1500*3x/(3x-2x)=Rs.4500
Interest received in simple interes t= 4500*24*2/100 =Rs.2160 This satisfies the given condition.
From option (4)
Interest received by Raju =3x*24*2/100+[2x*(1+10/100)2-2x] This does not satisfy the given condition.
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Question 2 of 5
2. Question
Bhavana invested Rs.15000 in compound interest at the rate of x% per annum for 2 years is Rs.4837.5 If Bhavana invested Rs.25000 each in simple and compound interest at the rate of (x+9)% per annum for 2 years, then find the difference between the simple and compound interest received by Bhavana?
Correct
Answer: B
Explanation
15000*(1+x/100)2-15000=4837.5
(1+x/100)2-1=0.3225
1+x/100=1.3225
1+x/100=1.15
x=15
Required difference=[25000*(1+24/100)2-25000] –
25000*(15+9)*2/100=13440-12000=Rs.1440
Incorrect
Answer: B
Explanation
15000*(1+x/100)2-15000=4837.5
(1+x/100)2-1=0.3225
1+x/100=1.3225
1+x/100=1.15
x=15
Required difference=[25000*(1+24/100)2-25000] –
25000*(15+9)*2/100=13440-12000=Rs.1440
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Question 3 of 5
3. Question
A sum of money of Rs.2600 was lent out in two parts in such a way that the simple interest on the first part at 10% per annum for 5 years is the same as the interest of the second part at 9% per annum for 6 years. The part lent out at 10% is
Correct
Answer: C
Explanation
Principle=P=2600
First part = A : 10% x 5 years=50% of first part
Second part (P-A): 9% x 6 years=54% of the
second part
50% of A = 54% (P-A)
50/100 x A = 54/100 x (2600-A)
A/2 = (54 x 26) – (54/100 x A)
A/2 + (54/100 x A) = 1404
(50/100 x A) + (54/100 x A) = 1404
(104/100)A = 1404
104A = 140400
A = 1350
Incorrect
Answer: C
Explanation
Principle=P=2600
First part = A : 10% x 5 years=50% of first part
Second part (P-A): 9% x 6 years=54% of the
second part
50% of A = 54% (P-A)
50/100 x A = 54/100 x (2600-A)
A/2 = (54 x 26) – (54/100 x A)
A/2 + (54/100 x A) = 1404
(50/100 x A) + (54/100 x A) = 1404
(104/100)A = 1404
104A = 140400
A = 1350
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Question 4 of 5
4. Question
A sum of Rs 4,000 amounts to Rs 5,008 in three years at simple interest at the rate of x% per annum. If the interest rate becomes (x + 2.6)%, then the revised maturity amount will be?
Correct
Answer: C
Explanation
Simple interest in 3 years = 5008 – 4000 =Rs.1008
1008 = 4000 × 3 × (R/100)
R = 8.4%
Rate of interest is 8.4% per annum.
New rate of interest = 8.4 + 2.6 = 11% per annum
Maturity amount in 3 years = 4000 × 3 × (11/100) + 4000 = Rs. 5320
Incorrect
Answer: C
Explanation
Simple interest in 3 years = 5008 – 4000 =Rs.1008
1008 = 4000 × 3 × (R/100)
R = 8.4%
Rate of interest is 8.4% per annum.
New rate of interest = 8.4 + 2.6 = 11% per annum
Maturity amount in 3 years = 4000 × 3 × (11/100) + 4000 = Rs. 5320
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Question 5 of 5
5. Question
If the difference between the compound and simple interest on a sum for 3 years at the rate of 10% per annum is Rs. 77.5 then find the sum invested?
Correct
Answer: B
Explanation
Let Principle = 100% Rate = 10% Time =
3 years
Simple interest = 30% of principle
Compound interest = 33.1% of Principle
Difference = 3.1%
3.1% = Rs 77.5
1% = Rs. 25
100% = Rs. 2500
Incorrect
Answer: B
Explanation
Let Principle = 100% Rate = 10% Time =
3 years
Simple interest = 30% of principle
Compound interest = 33.1% of Principle
Difference = 3.1%
3.1% = Rs 77.5
1% = Rs. 25
100% = Rs. 2500
