type 3 money multiples in ‘n’ years Practice Questions Answers Test with Solutions & More Shortcuts
simple interest PRACTICE TEST [6 - EXERCISES]
type 1 basic simple interest using formula
type 2 increase or decrease in interest rate
type 3 money multiples in ‘n’ years
type 4 difference & equality of si rate & years
type 5 si on ‘n’ years & ‘x/y ‘of sum
type 6 si with ratios
Question : 11 [SSC CGL Tier-I 2010]
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 »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 : 12 [SSC CGL Tier-I 2015]
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.
Question : 13 [SSC CAPFs SI 2014]
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 : 14 [SSC CGL Tier-I 2016]
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 : 15 [SSC CGL Prelim 2007]
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 »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.
IMPORTANT quantitative aptitude EXERCISES
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type 3 money multiples in ‘n’ years Shortcuts »
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Click to Start..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 …
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