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

Questions : 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$2/3$%

The correct answers to the above question in:

Answer: (c)

Using Rule 1
Simple Interest (S.I.)= ${\text"Principal × Rate × Time"/100$ or
S.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 = ${50 × 2}/{3 × 5} = 20/3 = 6{2}/3$%

Practice simple interest (type 3 money multiples in ‘n’ years) Online Quiz

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Read more money multiples in n years Based Quantitative Aptitude Questions and Answers

Question : 1

In how many years will a sum of money double itself at 6$1/4$% simple interest per annum ?

a) 20 years

b) 24 years

c) 12 years

d) 16 years

Answer: (d)

TIme = ${SI × 100}/\text"Principal × Rate"$

= ${x × 100}/{x × 25/4}$ = 16 years

Using Rule 3,

T = ${(n - 1)}/{R%} years$

= ${(2 - 1)}/{25/4} × 100$ years = 16 years.

Question : 2

In certain years a sum of money is doubled to itself at 6$1/4$% simple interest per annum, then the required time will be

a) 12$1/2$ years

b) 16 years

c) 10$2/3$ years

d) 8 years

Answer: (b)

According to the question,

If principal be Rs. x, then

S.I. = Rs. x

Time = ${SI × 100}/\text"Principal × Rate"$

= ${x × 100}/{x × 25/4} = 400/25$ = 16 years

Using Rule 3,

T = ${(n - 1)}/R × 100%$

= ${2 - 1}/{25/4} × 100$

= $400/25$ = 16 years.

Question : 3

A sum amounts to double in 8 years by simple interest. Then the rate of simple interest per annum is

a) 12.5%

b) 10%

c) 20%

d) 15%

Answer: (a)

Principal = Rs.x

Amount = Rs.2x

Interest = 2x - x = Rs.x

Rate = ${SI × 100}/\text"Principal × Time"$

= ${x × 100}/{x × 8} = 25/2$ = 12.5 % per annum

Using Rule 3,

R % = ${(n - 1)}/T × 100%$

= ${(2 - 1)}/8 × 100%$ = 12.5%

Question : 4

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: (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 : 5

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: (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 : 6

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: (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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