type 3 money multiples in ‘n’ years Section-Wise Topic Notes With Detailed Explanation And Example Questions
MOST IMPORTANT quantitative aptitude - 6 EXERCISES
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The following question based on simple interest topic of quantitative aptitude
(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
The correct answers to the above question in:
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.
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Read more money multiples in n years Based Quantitative Aptitude Questions and Answers
Question : 1
In how much time, will a sum of money become double of itself at 15% per annum simple interest?
a) 6$1/2$ years
b) 6$1/4$ years
c) 6$2/3$ years
d) 6$1/3$ years
Answer »Answer: (c)
If the principal be x, the amount = 2x
SI = x
Time = ${SI × 100}/\text"Principal × Rate"$
= ${x × 100}/{x × 15} = 20/3 = 6{2}/3$ years
Using Rule 3,
T = ${(n - 1)}/R × 100%$
= $({2 - 1}/15) × 100$
= $100/15 = 20/3$ Years
= 6$2/3$ years
Question : 2
In how many years will a sum of money double itself at 12% per annum?
a) 6 yrs. 9 months
b) 8 yrs. 6 months
c) 7 yrs. 6 months
d) 8 yrs. 4 months
Answer »Answer: (d)
If the principal be Rs.100 then S.I. = Rs.100.
Time = ${SI × 100}/\text"Principal × Rate"$
= ${100 × 100}/{100 × 12} = 25/3$ years
= 8 years 4 months
Using Rule 3,
T = ${(n - 1)}/R × 100%$
= ${(2 - 1)}/12 × 100%$
= $100/12 = 25/3$ years.
= 8$1/3$ years
= 8 years, 4 months.
Question : 3
At what rate per cent per annum will the simple interest on a sum of money be $2/5$ of the amount in 10 years ?
a) 6%
b) 4%
c) 6$2/3$%
d) 5$2/3$%
Answer »Answer: (c)
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
Let P be the principal and R% rate of interest.
S.I. = ${\text"PR" × 10}/100 = \text"PR"/10$
According to the question,
${PR}/10 = (P + {PR}/10) × 2/5$
$R/10 = (1 + R/10) × 2/5$
$R/10 = 2/5 + R/25$
$R/10 - R/25 = 2/5$
${5R - 2R}/50 = 2/5$
${3R}/50 = 2/5$
R = ${50 × 2}/{3 × 5} = 20/3 = 6{2}/3$%
Question : 4
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 : 5
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 : 6
A sum of money at a certain rate per annum of simple interest doubles in the 5 years and at a different rate becomes three times in 12 years. The lower rate of interest per annum is
a) 20%
b) 15%
c) 16$2/3$%
d) 15$3/4$%
Answer »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$2/3%$
simple interest Shortcuts and Techniques with Examples
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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 …
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