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6.
A owes B, Rs. 1573 payable 1
1
2
 years hence. Also B owes A, Rs. 1444.50 payable 6 months  
hence. If they want to settle the account forthwith, keeping 14% as the rate of interest,
then who should pay an how much?
  • A.
    A, Rs. 28.50
  • C.
    A, Rs. 50
  • B.
    B, Rs. 37.50
  • D.
    B, Rs. 50
  • Answer & Explanation
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Answer : [D]
Explanation :
A owes = P.W. of Rs. 1573 due
3
2
 years hence  
  = Rs.  
1573 x 100
100 +  
14 x
3
2
 
 
 = Rs.  
1573 x 100
121
   = Rs. 1300.  
 
B owes = P.W. of Rs. 1444.50 due 6 months hence
  = Rs.  
1444.50 x 100
100 +  
14 x
1
2
 
 
 = Rs.  
1444.50 x 100
107
   = Rs. 1350.  
 
 
  B must pay Rs. 50 to A.  
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7.
Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
  • A.
    16
    2 %  
    3  
  • C.
    13
    1 %  
    3  
  • B.
    14
    1 %  
    2  
  • D.
    15%
  • Answer & Explanation
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Answer : [A]
Explanation :
S.P. = 102% of Rs. 600 = Rs.  
102
100
 x 600    = Rs. 612    
Now, P.W. = Rs. 612 and sum = Rs. 688.50.
 
  T.D. = Rs. (688.50 - 612) = Rs. 76.50.  
Thus, S.I. on Rs. 612 for 9 months is Rs. 76.50
 
  Rate =  
100 x 76.50
612 x
3
4
 
% = 16
2
3
%
     
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8.
The difference between the simple interest and the true discount on a certain sum of money for 6 months at 6% is Rs. 27. Find the sum
  • A.
    Rs. 30900
  • C.
    Rs. 20900
  • B.
    Rs. 39000
  • D.
    Rs. 30600
  • Answer & Explanation
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Answer : [A]
Explanation :
Req. amount =
27 x   100 + 6 x
1
2
   x 100
  6 x
1
2
  2
       
2700 x 103
9
   
Rs. 30900  
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9.
If the interest on Rs. 50 at 4
1
2
%  Be equal to the discount on Rs. 59 for the same time  
and at the same rate when is the latter sum due?
  • A.
    2 years
  • C.
    6 years
  • B.
    4 years
  • D.
    3 years
  • Answer & Explanation
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Answer : [B]
Explanation :
 
 
9
2
=
59 - 50
50 x T
 x 100  
 
  T = 4 years  
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10.
Find the different between simple interest and true discount on Rs. 960 due 4 year hence at 5% per annum simple interest -
  • A.
    Rs. 32
  • C.
    Rs. 42
  • B.
    Rs. 52
  • D.
    None of these
  • Answer & Explanation
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Answer : [A]
Explanation :
S.I. - T.D. =
A x (R.T.)2
100(100 + R.T.)
 
960 x (4 x 5)2
100 x (100 + 4 x 5)
 
960 x 20 x 20
100 x 120
 
  = Rs. 32  
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