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Arithmetic Aptitude :: Simple Interest

Home > Arithmetic Aptitude > Simple Interest > General Questions

21. The difference between simple interest and compound interest on a certain deposit for two years at 8 p.c.p. is Rs. 8. What is the amount of deposit

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Answer: Option B

Explanation:

Given Intrest rate r = 8%
Deposited for year n = 2 years
Formula: SI = p*n*r/100
=> p*2*8/100 = 4p/25
CI = Amount - p
Amount = p(1 + r/100)^n
=> p(1 + 8/100)^2
CI = p(27/25)^2 - p
p(27/25)^2- p - 4p/25 = 8
p[27*27 - 625 - 100]/625 = 8
4p = 5000 => p = Rs. 1250

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Syntel Inc. 

22. At a certain rate of simple interesrt,a sum double itsef in 10 years.In how many years would it treble itsef?

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Answer: Option E

Explanation:

Lets Assume after 10 years amount = 2p
so, SI=2P-P = P
P=(P*R*10)/100
r=10%
now amount = 3P
SI= 3P-P=2P
2P=(P*10*T)/100
T=20years

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Syntel Inc. 

23. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

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Answer: Option D

Explanation:

Let the rate be R% p.a.
Then, (5000 x R x 2)/100 + (3000 x R x 4)/100 = 2200.
=> 100R + 120R = 2200
=> R = 2200/220 = 10.
.'. Rate = 10%.

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iGate 

24. A sum of money at simple interest amounts to Rs. 2240 in 2 years and to Rs. 2600 in 5 years. What is the principal amount ?

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Answer: Option C

Explanation:

SI for 3 year = 2600-2240 = 360
SI for 2 year 360/3 * 2 = 240
Principal = (2240 - 240) = Rs. 2000.

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