Quant Quiz

Q1)-A sum of Rs 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs 362.50 more is lent but at the rate twice the former. At the end of the year, Rs 33.50 is earned as interest from both the loans. What was the original rate of interest ?

3.46 %

4.5 %

5 %

6 %

Ans.- A
Let the original rate be R %. Then, new rate= (2R)%.
(725 x R x 1)/100 + (362.50 x 2R x 1)/(100 x 3) = 33.50
(2175 + 725)R= 33.50 x 100 x 3= 10050
R = 3.46

Q2)-The difference between the simple interest received from two different sources on Rs 1500 for 3 years is Rs 13.50. The difference between their rates of interest is

0.1 %

0.2 %

0.3 %

0.4 %

Ans.- C
(1500 x R1 X 3)/100 - (1500 x R2 x 3)/100 = 13.50
4500(R1-R2)=1350
R1-R2=1350/4500
0.3 %

Q3)-Peter invested an amount of Rs 12000 at the rate of 10 p.c.p.a simple interest and another amount at the rate of 20 p.c.p.a simple interest. The total interest earned at the end of one year on the total amount invested became 14 p.c.p.a. Find the total amount invested.

Rs 20,000

Rs 22,000

Rs 24,000

Rs 25,000

Ans.- A
Let the second amount be Rs x. Then ,
(12000 x 10 x 1)/100 + (x X 20 x 1)/100 = {(12000 + x) X 14 X 1)/100}
x = 8000
Total investment = Rs (12000 + 8000) = Rs 20000

Q4)-What should be the least number of years in which the simple interest on Rs 2800 at 6(2/3)% will be an exact number of rupees ?

2

3

4

5

Ans.- B
SI = Rs (2600 X 20/3 X 1/100 X T)
which is an exact number of rupees when T=3

Q5)-The rates of simple interest in two banks A and B are in the ratio 5 : 4. A person wants to deposit his total savings in two banks in such a way that he received equal half-yearly interest from both. He should deposit the savings in banks A and B in the ratio

2 : 5

4 : 5

5 : 2

5 : 4

Ans.- B
Let the savings be X and Y and the rates of simple interest be 5x and 4x respectively. Then, X x 5x x 1/2 x 1/100 = Y X 4x x 1/100 =r X/Y= 4/5

Q6)-A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3 % higher rate, it would have fetched Ra 72 more. The sum is

Rs 1200

Rs 1500

Rs 1600

Rs 1800

Ans.- A
Let the sum be Rs x and original rate be R %. Then , (x X (R + 3) X 2)/100 - (x X R x 2)/100 = 72
2Rx + 6x - 2Rx = 7200
x = 1200

Q7)-If the annual rate of simple interest increases from 10 % to 12.5 %, a man's yearly income increases by Rs 1250. His principal (in rs) is

45,000

50,000

60,000

65,000

Ans.- B
Let the sum be Rs x. Then , ( x X 25/2 X 1/100) - (x X 10 X 1 )/100 = 1250
x = 50000

Q8)-A moneylender finds that due to a fall in the annual rate of interest from 8 % to 7(3/4) %, his yearly income diminishes by Rs 61.50. His capital is

Rs 22,400

Rs 23,800

Rs 24,600

Rs 26,000

Ans.- C
LEt the capital be Rs x. Then { (x X 8 X 1)/100 - ( x x 31/4 X 1/100) } = 61.50
32x-31x = 6150 x 4
x = 24600

Q9)-What annual payment will discharge a debt of Rs 6450 due in 4 years at 5 % simple interest being simple. The rate of interest is

9(1/11) %

10 %

11 %

21(9/11) %

Ans.- D
Rs 10 + SI on Rs 10 for 11 months = Rs 11 + SI on Re 1 for (1 + 2 + 3 ..... + 10 ) months
Rs 10 + SI on Re 1 for 110 months = Rs 11 + SI on Re 1 for 55 months
SI on Re 1 for 55 months = Re 1
Rate= ( 100 x 12)/(1 X 55 ) % = 21(9/11) %

Q10)-A person takes a loan of Rs 200 at 5 % simple interest. He returns Rs 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay :

Rs 105

Rs 110

Rs 115

Rs 115.50

Ans.- C
Amount to be paid = Rs ( 100 + (200 x 5 x 1)/100 + (100 x 5 x 1)/100 ) = Rs 115

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