type 3 money multiples in ‘n’ years Section-Wise Topic Notes With Detailed Explanation And Example Questions

MOST IMPORTANT quantitative aptitude - 6 EXERCISES

Top 10,000+ Aptitude Memory Based Exercises

The following question based on simple interest topic of quantitative aptitude

Questions : 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%

The correct answers to the above question in:

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%

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

Discuss Form

Valid first name is required.
Please enter a valid email address.
Your genuine comment will be useful for all users! Each and every comment will be uploaded to the question after approval.

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

Question : 1

If a sum of money doubles itself in 8 years, then the interest rate in percentage is

a) 10%

b) 8$1/2$%

c) 12$1/2$%

d) 10$1/2$%

Answer: (c)

Let principal be Rs. x.

Amount = Rs.2x

Interest = Rs.(2x - x) = Rs.x

Rate = ${S.I. × 100}/\text"Principal × Time"$

= ${x × 100}/{x × 8} = 25/2$

= 12$1/2%$ per annum

Question : 2

A sum of money at simple interest trebles itself in 15 years. It will become 5 times of itself in

a) 36 years

b) 40 years

c) 25 years

d) 30 years

Answer: (d)

Let the principal be x.

Case-I

$2x = {x × R × 15}/100$

R = ${2 × 100}/15 = 40/3%$

Case-II

SI = 4x

$4x = {x × 40 × T}/300$

T = ${4 × 300}/40 = 30$ years

Using Rule 3,

R = ${(3 - 1)}/15 × 100%$

= $2/15 × 100%$

= $2/3 × 20% = 40/3%$

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

= ${(5 - 1)}/{40/3} × 100$ = 30 years.

Question : 3

A sum of money becomes $7/6$ of itself in 3 years at a certain rate of simple interest. The rate per annum is :

a) 6$5/9$%

b) 5$5/9$%

c) 25%

d) 18%

Answer: (b)

Principal = P

Amount = ${7p}/6$

S.I. = ${7p}/6 - P = P/6$

R = ${S.I × 100}/{P × T} = {P × 100}/{6 × p × 3}$

= $50/9 = 5{5}/9%$

Using Rule 3
If a certain sum becomes 'n' times of itself in T years on Simple Interest, then the rate per cent per annum is.
R% = ${(n - 1)}/T × 100%$ and
T = ${(n - 1)}/R × 100%$

R% = ${(7/6 - 1) × 100%}/3$

= $1/18 × 100% = 50/9%$

= 5$5/9$%

Question : 4

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 : 5

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 : 6

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: (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 = ${50 × 2}/{3 × 5} = 20/3 = 6{2}/3$%

Recently Added Subject & Categories For All Competitive Exams

Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024

Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam

17-May-2024 by Careericons

Continue Reading »

Syllogism Practice Questions Answers PDF - IBPS Clerk 2024

Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam

16-May-2024 by Careericons

Continue Reading »

IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers

Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download

14-May-2024 by Careericons

Continue Reading »

New Cloze Test Questions and Answers PDF - IBPS Clerk 2024

The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF

13-May-2024 by Careericons

Continue Reading »