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) 36 years
(b) 40 years
(c) 25 years
(d) 30 years
The correct answers to the above question in:
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.
Discuss Form
Read more money multiples in n years Based Quantitative Aptitude Questions and Answers
Question : 1
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 »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 3If a certain sum becomes 'n' times of itself in T years on Simple Interest, then the rate per cent per annum is.R% = ${(n - 1)}/T × 100%$ andT = ${(n - 1)}/R × 100%$
R% = ${(7/6 - 1) × 100%}/3$
= $1/18 × 100% = 50/9%$
= 5$5/9$%
Question : 2
A certain sum of money amounts to Rs. 2200 at 5% p.a. rate of interest, Rs. 2320 at 8% interest in the same period of time. The period of time is :
a) 4 years
b) 3 years
c) 2 years
d) 5 years
Answer »Answer: (c)
Principal = Rs.P and time = T years
S.I. = $\text"Principal × Time × Rate"/100$
According to the question,
P + ${PT × 5}/100$ = 2200
P + ${PT}/20$ = 2200 ...(i)
Again, ${PT × 8}/100 - {PT × 5}/100$
= 2320 - 2200
${3PT}/100$ = 120
PT = ${120 × 100}/3$ = 4000 ...(ii)
From equation (i),
P + $4000/20$ = 2200
P = 2200 - 200 = Rs. 2000
From equation (ii),
PT = 4000
T = $4000/2000$ = 2 years
Alternative Method
Difference in rates
= 8 - 5 = 3%
Since,3% ≡ 2320 - 2200 = 120
5% ≡ $120/3$ × 5 = 200
Principal = Rs.(2200 - 200) = Rs.2000
Time = ${200 × 100}/{2000 × 5}$ = 2 years
Question : 3
The rate of simple interest per annum at which a sum of money doubles itself in 16$2/3$ years is
a) 5%
b) 4%
c) 6$2/3$%
d) 6%
Answer »Answer: (d)
According to the question,
Principal = Rs.x.
Interest = Rs.x.
Time = $50/3$ years
Rate = ${Interest × 100}/\text"Principal × Time"$
= ${x × 100}/{x × {50/3}}$
= ${100 × 3}/50$ = 6% per annum
Question : 4
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 »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 : 5
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 »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 : 6
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 »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.
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
100+ Quadratic Equation Questions Answers PDF for Bank
Quadratic Equation multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
IBPS Aptitude Linear Equations MCQ Questions Answers PDF
Linear equations multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
New 100+ Compound Interest MCQ with Answers PDF for IBPS
Compound Interest verbal ability questions and answers solutions with PDF for IBPS RRB PO. Aptitude Objective MCQ Practice Exercises all competitive exams
Continue Reading »
100+ Mixture and Alligation MCQ Questions PDF for IBPS
Most importantly Mixture and Alligation multiple choice questions and answers with PDF for IBPS RRB PO. Aptitude MCQ Practice Exercises all Bank Exams
Continue Reading »