MCQ 11 Mark
Consider the following statements:
If a sum of money is loaned at simple interest, then the
(i) Money gets doubled in 5 years if the rate of interest is $16 \frac{2}{3} \%$. p.a.
(ii) Money gets doubled in 5 years if the rate of interest is $20 \%$. p.a.
(iii) Money becomes four times in 10 years if it gets doubled in 5 years. Of these statements,
- A
(i) and (iii) are correct
- ✓
- C
(ii) and (iii) are correct
- D
View full question & answer→MCQ 21 Mark
Rahul lent ₹ 6000 to Manick for 2 years and ₹ 1500 to Ariffor 4 years and received altogether from both ₹ 900 as simple interest. The rate of interest is
- A
$4 \%$ p.a.
- ✓
$5 \%$ p.a.
- C
$10 \%$ p.a.
- D
$12 \%$ p.a
AnswerCorrect option: B. $5 \%$ p.a.
View full question & answer→MCQ 31 Mark
₹ 800 amounts to ₹ 920 in 3 years at simple interest. If the interest rate is increased by $3 \%$, it would amount to
View full question & answer→MCQ 41 Mark
$B$ borrowed $₹ 720$ form $A$ at $8 \%$ simple interest for 3 years and lent the same sum to $C$ at $10 \frac{1}{2} \%$, simple interest for 2 years. In the whole transaction $B$.
View full question & answer→MCQ 51 Mark
A lends a sum of money for 10 years at $5 \%$ simple interest. B lends double that amount for 5 years at the same rate of interest. Which of the following statements is true in this regard?
- A
A will get twice the amount of interest that B would get.
- B
B will get twice the amount of interest that A would get.
- ✓
A and B will get the same amount as interest.
- D
B will get four times the amount of interest that A would get.
AnswerCorrect option: C. A and B will get the same amount as interest.
View full question & answer→MCQ 61 Mark
Due to a fall in the rate of interest from $13 \%$ p.a. to $12 \frac{1}{2} \%$ p.a., a money-lender's yearly income diminishes by ₹104. His capital is
View full question & answer→MCQ 71 Mark
The simple interest at $x \%$ for $x$ years will be $₹ x$ on a sum of
AnswerCorrect option: C. $₹\left(\frac{100}{x}\right)$
View full question & answer→MCQ 81 Mark
If ₹ 64 amount to ₹ 83.20 in 2 years, what will ₹ 86 amount to in 4 years at the same rate per cent per annum?
MCQ 91 Mark
Simple interest on a sum at $12 \frac{1}{2} \%$ per annum for 2 years is $₹ 256$. The compound interest on the same sum at the same rate and for the same period is
View full question & answer→MCQ 101 Mark
The difference between the simple interest and the compound interest on $₹ 600$ for 1 year at 10% per annum, reckoned half-yearly is
View full question & answer→MCQ 111 Mark
The compound interest on $₹ 540$ at $16 \frac{2}{3} \%$ per annum for 2 years is
View full question & answer→MCQ 121 Mark
Out of a sum of $₹ 625$, a part was lent at $5 \%$ and the other at $10 \%$ simple interest. If the interest on the first part after 2 years is equal to the interest on the second part after 4 years, then the second sum (in ₹) is
View full question & answer→MCQ 131 Mark
A sum of $₹ 2500$ is lent out in two parts, one at $12 \%$ and another one at $12 \frac{1}{2} \%$. If the total annual income is ₹ 306, the money lent at $12 \%$ is
View full question & answer→MCQ 141 Mark
Two equal sums of money are deposited in two banks, each at $15 \%$ per annum, for $3 \frac{1}{2}$ years and 5 years. If the difference between their interests is ₹144, each sum is
View full question & answer→MCQ 151 Mark
In what time will the simple interest on $₹ 780$ at $5 \%$ be equal to the simple interest on $₹ 600$ at $6 \frac{1}{2} \%$ ?
- A
- B
$3 \frac{1}{2}$ years
- C
- ✓
View full question & answer→MCQ 161 Mark
A sum of money becomes $\frac{8}{5}$ of itself in 5 years at a certain rate of interest. The rate per cent per annum is
- A
$5 \%$
- B
$8 \%$
- C
$10 \%$
- ✓
$12 \%$
AnswerCorrect option: D. $12 \%$
View full question & answer→MCQ 171 Mark
In what time will a sum of money double itself at $6 \frac{1}{4} \%$ p.a. simple interest?
View full question & answer→MCQ 181 Mark
The sum which amounts to ₹ 840 in 5 years at the rate of $8 \%$ per annum simple interest is
- A
$₹\left(\frac{840 \times 5 \times 8}{100}\right)$
- B
$₹\left(\frac{100 \times 840}{100+5 \times 8}\right)$
- C
$₹\left(\frac{100+5 \times 8 \times 100}{840}\right)$
- ✓
$₹\left(\frac{100 \times 840}{100+5 \times 8}\right)$
AnswerCorrect option: D. $₹\left(\frac{100 \times 840}{100+5 \times 8}\right)$
View full question & answer→MCQ 191 Mark
$x$ is the simple interest on $y$ and $y$ is the simple interest on $z$, both for same period and the same rate. $x, y$ and $z$ are connected as:
- A
$x^2=y z$
- B
$x y=z$
- ✓
$y^2=x z$
- D
$z^2=x y$
AnswerCorrect option: C. $y^2=x z$
View full question & answer→MCQ 201 Mark
Price of 1 kg of an Indian spice is $₹ 12,000$. If its price increases at the rate of $10 \%$ every 6 months, what would be the price of 1 kg spice after 2 years?
- A
₹ $12,0000\left(1+\frac{10}{100}\right)^2$
- ✓
₹ $12,0000\left(1+\frac{10}{100}\right)^4$
- C
₹ $12,0000\left(1+\frac{5}{100}\right)^2$
- D
₹ $12,0000\left(1+\frac{5}{100}\right)^4$
AnswerCorrect option: B. ₹ $12,0000\left(1+\frac{10}{100}\right)^4$
View full question & answer→MCQ 211 Mark
The differences between the compound interest and the simple interest on a certain sum at $5 \%$ p.a for 2 years is $₹ 150$. The sum is:
View full question & answer→MCQ 221 Mark
If the compound interest on a certain sum of money for 3 years at $10 \%$ p.a be $₹ 993$, then what would be the simple interest?
View full question & answer→MCQ 231 Mark
At a certain rate of simple interest, a certain sum doubles itself in 10 years. It will treble itself in:
MCQ 241 Mark
Reena invested ₹ 5000 for 6 months at $10 \%$ annual rate of interest, compounded annually. Vineeta invested the same amount of money for 6 months at the same annual rate of interest but compounded half-yearly. Who will get more money at the time of maturity?
- A
- B
- ✓
Both will get the same amount
- D
AnswerCorrect option: C. Both will get the same amount
View full question & answer→MCQ 251 Mark
Amit wants to invest $₹ 1,00,000$ in a bank. He has two options as below:
Scheme 1: Rate of interest $=3 \%$ p.a and time period $=2$ years.
Scheme 2: Rate of interest $=2 \%$ p.a and time period $=3$ years.
Which scheme is better for Amit?
- A
- B
- ✓
Both the schemes will give the same amount
- D
AnswerCorrect option: C. Both the schemes will give the same amount
View full question & answer→MCQ 261 Mark
What would be the amount after 4 years when interest is compounded half-yearly, interest rate $=10 \%$ per 2 years, principal $=₹ 5000$ ?
- A
₹ $5000\left(1+\frac{10}{100}\right)^4$
- B
₹ $5000\left(1+\frac{5}{100}\right)^8$
- ✓
₹ $5000\left(1+\frac{2.5}{100}\right)^8$
- D
₹ $5000\left(1+\frac{2.5}{100}\right)^4$
AnswerCorrect option: C. ₹ $5000\left(1+\frac{2.5}{100}\right)^8$
View full question & answer→MCQ 271 Mark
Which of the following is a better deal for you?
- A
You borrowed ₹ $1,00,000$ at $20 \%$ p.a, simple interest for 2 years
- ✓
You borrowed ₹ $1,00,000$ at $15 \%$ p.a, compounded annually for 2 years
- C
In both (a) and (b), you will have to pay the same amount after 2 years
- D
AnswerCorrect option: B. You borrowed ₹ $1,00,000$ at $15 \%$ p.a, compounded annually for 2 years
View full question & answer→MCQ 281 Mark
The compound interest earned by Deepak on a certain amount at the end of 2 years at the rate of $5 \%$ p.a, was $₹ 1025$. The amount received by Deepak at the end of 2 years (principal + interest) is:
View full question & answer→MCQ 291 Mark
Simple interest on a certain amount is $\frac{9}{16}$ of the principal. If the numbers representing the rate of interest (in per cent) and time (in years) be equal, then the time for which the principal is lent out, is:
- ✓
- B
- C
$6 \frac{1}{2}$ years
- D
$7 \frac{1}{2}$ years
View full question & answer→