Question : The discount on a certain sum of money, due at the end of $2\frac{1}{4}$ years at $2\frac{2}{3}$% p.a. is Rs. 78 find the sum.
Option 1: Rs. 1,278
Option 2: Rs. 1,300
Option 3: Rs. 1,378
Option 4: Rs. 1,400
Correct Answer: Rs. 1,300
Solution : Rate = $2\frac{2}{3}$% Time = $2\frac{1}{4}$ years Interest = Rs. 78 Let the Principal be $x$. Simple Interest = $\frac{\text{Principal × Rate × Time}}{100}$ $⇒78=\frac{x×2\frac{2}{3}×2\frac{1}{4}}{100}$ $⇒78=x×\frac{8}{3}×\frac{9}{4}×\frac{1}{100}$ $\therefore x = 1300$ Hence, the correct answer is Rs. 1,300.
Application | Eligibility | Selection Process | Result | Cutoff | Admit Card | Preparation Tips
Question : On a certain sum of money lent out at 16% p.a. the difference between the compound interest between 1 year, payable half-yearly and the simple interest for 1 year is Rs. 56. The sum is:
Option 1: Rs. 1080
Option 2: Rs. 7805
Option 3: Rs. 8750
Option 4: Rs. 5780
Question : On a certain sum, the Simple Interest at the end of $6\frac{1}{4}$ years becomes $\frac{3}{8}$th of the sum. The Rate of interest is:
Option 1: 5%
Option 2: 6%
Option 3: 7%
Option 4: 8%
Question : Sudeep invested $\frac{1}{8}$th of a certain sum at 5% p.a. for two years and $\frac{3}{5}$th of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is INR 1,674, then the total sum invested is:
Option 1: INR 13,000
Option 2: INR 12,000
Option 3: INR 10,500
Option 4: INR 12,500
Question : The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum at the same rate for 2 years is Rs. 170. The rate of interest is:
Option 1: $8$%
Option 2: $29\frac{1}{6}$%
Option 3: $12\frac{1}{2}$%
Option 4: $5\frac{5}{17}$%
Question : The difference between CI and SI for 2 years at a 10% rate of interest is Rs. 4. Find the sum of money:
Option 1: Rs. 400
Option 2: Rs. 200
Option 3: Rs. 300
Option 4: Rs. 800
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile