6.
Ramya gives 50 times the rent per annum to purchase a plot from L.I.C. Find the rate of interest from the amount paid by him.
• A.
1%
• C.
2%
• B.
3%
• D.
1.5%
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Explanation :

 Let the annual rent be Rs. x. I = x; P = 50x, n = 1

 The rate of interest = 100I = 100x % = 2% Pn 50x x 1

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7.
 If the simple interest on a certain sum of money after 6 1 Years is 3 of the principal, then 4 8
the rate of interest per annum is
• A.
5%
• C.
4%
• B.
6%
• D.
None of these
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Explanation :

Let the sum of money be Rs. x.

 Then, simple interest = 3 x 8

 Also, time = 6 1 years, i.e. 25 years 4 4

100 x 3x
Rate (R) = 100 x I = 8
R x T x 25
4

 = 100 x 3 = 6% 2 x 25

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8.
If a sum of Rs. 9 is lent to be paid back in 10 equal monthly instalments of re. 1 each, then the rate of interest is
•  A.266 2 % 3
• C.
266%
•  B.265 3 % 4
• D.
None of these
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Explanation :

Here, z = Rs. 9, a = Rs. 1, b =12,  n =10, R = ?

Using the formula

 z = na.+ Ra x n(n-1) 100 x b 2

 We get 9 = 10 x 1 + R x 1 x 10 x 9 100 x 12 2

90R = 1 R = 2400  = 266 2 %
2400 9 3

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9.
If simple interest on a certain sum of money is Rs. 256 and the rate of interest per annum equals the number of years, then the rate of interest is
• A.
13%
• C.
16%
• B.
14%
• D.
None of these
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Explanation :

Here, I = Rs. 256

Let the principal be Rs. 100

Let the rate of interest per annum be x%

The, time(T) = x years

Therefore, using the formula

 R = 100 x I P x T

We have, x = 100 x 256 x2 = 256 or x = 16%
100 x x

 Rate of interest per annum is 16%

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10.
Divide Rs. 2379 into 3 parts so that their amount after 2,3 and 4 years respectively may be equal, the rate of interest being 5% per annum at simple interest. The first part is :
• A.
Rs. 759
• C.
Rs. 818
• B.
Rs. 792
• D.
Rs. 828
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Explanation :

Let the parts be x, y and [2379 - (x + y)].

 x + x x 2 x 5 = y + y x 3 x 5 = z + z x 4 x 5 100 100 100

11x = 23y = 6z  = k  x = 10k , y = 20K , z = 5k
10 20 5 11 23 6

But x + y + z = 2379

10k + 20k = 5k  = 2379   1380k + 1320K + 1265K = 2379 x 11 x 23 x 6
11 23 6

k = 2379 x 11 x 23 x 6 = 3 x 11 x 23 x 6
3965 5

x = 10 x 3 x 11 x 23 x 6  = 828.
11 5

Hence, the first part is Rs. 828.

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