type 3 money multiples in ‘n’ years Section-Wise Topic Notes With Detailed Explanation And Example Questions
MOST IMPORTANT quantitative aptitude - 6 EXERCISES
-
Top 999+ Basic Simple Interest MCQ for BANK SSC UPSC Exam »
-
New 899+ Simple Interest Questions For BANK & IBPS Exams »
-
Top 799+ Simple Interest Aptitude Questions Answers Test »
-
Top 999+ Aptitude Simple Interest MCQ: SSC Practice Test »
-
Top 799+ Simple Interest Question and Answer Test for SSC »
-
New 750+ Simple Interest MCQ with Ratios For All BANK SSC »
The following question based on simple interest topic of quantitative aptitude
(a) 20%
(b) 15%
(c) 16$2/3$%
(d) 15$3/4$%
The correct answers to the above question in:
Answer: (c)
The sum gets doubled in 5 years and tripled in 12 years.
Clearly rate of interest for 12 years will be lower.
Let Principal be x.
then, Rate = ${SI × 100}/\text"Principal × Time"$
= ${2x × 100}/{x × 12} = 50/3 = 16{2}/3%$
Using Rule 3,
$R_1 = {(2 - 1)}/5 × 100%$ = 20%
$R_2 = {(3 - 1)}/12 × 100% = 16{2}/3%$
Lower rate of interest =16$2/3%$
Discuss Form
Read more money multiples in n years Based Quantitative Aptitude Questions and Answers
Question : 1
The rate of simple interest for which a sum of money becomes 5 times of itself in 8 years is :
a) 40%
b) 30%
c) 55%
d) 50%
Answer »Answer: (d)
Principal = Rs.x (let)
Amount = Rs.5x
Interest = Rs.(5x - x) = Rs.4x
Rate = ${S.I. × 100}/\text"Principal × Time"$
= ${4x × 100}/{x × 8}$ = 50% per annum
Question : 2
A certain sum of money becomes three times of itself in 20 years at simple interest. In how many years does it become double of itself at the same rate of simple interest ?
a) 10 years
b) 8 years
c) 14 years
d) 12 years
Answer »Answer: (a)
Case-I
Let the principal be x
Amount = 3x
Interest = 2x
Time = 20 years
I = $\text"PRT"/100$
2x = ${x × R × 20}/100$ ⇒ R = 10%
Case-II
I = x, P = x, R = 10, T = ?
I = $\text"PRT"/100$
x = ${x × 10 × T}/100$ ⇒ T = 10 years.
Using Rule 3,
R% = ${(3 - 1)}/20$ × 100% = 10%
Now, T = ${(n - 1)}/R$ years
T = ${2 - 1}/10 × 100$ = 10 years
Question : 3
If a sum of money deposited in a bank at simple interest is doubled in 6 years, then after 12 years, the amount will be
a) 3 times the original amount
b) $5/2$ times the original amount
c) 4 times the original amount
d) $7/2$ times the original amount
Answer »Answer: (a)
Case I,
Principal = Rs.x
Interest = Rs.x
Time = 6 years
Rate = ${Interest × 100}/\text"Principal × Time"$
= ${x × 100}/{x × 16} = 50/3%$ per annum
Case II,
Interest = ${x × 12 × 50}/{100 × 3}$ = Rs.2x
i.e., Amount is thrice the principal.
Question : 4
At what per cent of simple interest will a sum of money double itself in 15 years?
a) 6$2/3$%
b) 6$1/3$%
c) 6%
d) 6$1/2$%
Answer »Answer: (a)
Let principal be Rs.x.
Amount = Rs.2x
Interest = Rs.(2x - x) = Rs.x
Rate = ${S.I. × 100}/\text"Principal × Time"$
= ${x × 100}/{x × 15} = 20/3$
= 6$2/3%$ per annum
Question : 5
A certain sum doubles in 7 years at simple interest. The same sum under the same interest rate will become 4 times in how many years.
a) 28
b) 14
c) 10
d) 21
Answer »Answer: (d)
Case I,
Interest = Principal
Rate = ${Interest × 100}/\text"Principal × Time"$
= $100/7%$ per annum
Case II,
Interest = 3 × Principal
Time = ${Interest × 100}/\text"Principal × Time"$
= ${3 × 100}/{100/7}$ = 3 × 7 = 21 years
Question : 6
The simple interest on a sum of money is $8/25$ of the sum. If the number of years is numerically half the rate percent per annum, then the rate percent per annum is
a) 8
b) 5
c) 4
d) 6$1/4$
Answer »Answer: (a)
Using Rule 1Simple Interest (S.I.)= ${\text"Principal × Rate × Time"/100$ orS.I. = ${\text"P × R × T"/100$P = ${\text"S.I." × 100}/\text"R × T"$, R = ${\text"S.I." × 100}/\text"P × T"$, T = ${\text"S.I." × 100}/\text"P × R"$ A = P + S.I. or S.I. = A - P
Rate = R% per annum
Time = $R/2$ years
Rate = ${SI × 100}/\text"Principal × Time"$
R = $8/25 × 100/{R/2}$
$R^2 = {8 × 200}/25$ = 64
R = $√{64}$ = 8% per annum
simple interest Shortcuts and Techniques with Examples
-
type 1 basic simple interest using formula
Defination & Shortcuts … -
type 2 increase or decrease in interest rate
Defination & Shortcuts … -
type 3 money multiples in ‘n’ years
Defination & Shortcuts … -
type 4 difference & equality of si rate & years
Defination & Shortcuts … -
type 5 si on ‘n’ years & ‘x/y ‘of sum
Defination & Shortcuts … -
type 6 si with ratios
Defination & Shortcuts …
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
New 150+ Percentage Questions For IBPS Clerk Prelims 2024
Free Top Percentage Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz PDF & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »
Classification Reasoning MCQ For IBPS Clerk Prelims 2024
Most Important 100+ Classification based Verbal Reasoning Ability Multiple choice questions and answers PDF, Free New Mock tests For IBPS Clerk Prelims 2024
Continue Reading »
Ratio and Proportion Questions with Solutions, IBPS Clerk
New Ratio and Proportion Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »
Top Analogy Reasoning Ability For IBPS Clerk Prelims 2024
Most Important Analogy based Verbal Reasoning Multiple choice questions and answers practice quiz series PDF, Free New Mock tests For IBPS Clerk Prelims 2024
Continue Reading »