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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%
  • Answer & Explanation
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Answer : [C]
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
  • Answer & Explanation
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Answer : [B]
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 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
  • Answer & Explanation
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Answer : [A]
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
  • Answer & Explanation
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Answer : [C]
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
  • Answer & Explanation
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Answer : [D]
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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