A sum of Rs 18750 is left by will by a father to be divided between two sons, 12 and 14 years of age, so that when they attain maturity at 18, the amount (Principal+Interest) received by each at 5% simple interest will be the same. Find the sum allotted at present to each son.
Answer: C Let the principal of two sons are x and y respectively. x*130/100 = y*120/100 => x/y = 12/13 => x = 12/25 * 18750 = Rs 9000 => y = 13/25 * 18750 = Rs 9750
Q. No. 26:
A man borrows Rs 4000 at 20% compound rate of interest. At the end of each year he pays back Rs 1500. How much amount should he pay at the end of the third year to clear all his dues ?
Answer: A At the end of 1st year = 4000 * 120/100 = 4800 But he pays back = 1500 At the end of 2nd year = 3300 * 120/100 = Rs 2460 At the end of 3rd year = 2460 * 120/100 = Rs 2952.
Q. No. 27:
Satish invests Rs 3,55,000 in a scheme which earns him simple interest @ 15% per annum for 2 years. At the end of 2 year he reinvests the principal amount plus interest earned. In another scheme which earns him compound interest @ 20% per annum. What will be the total interest earned by Satish over the principal at the end of 5 year ?
Answer: D Interest after 2 years = (2*15*35500)/100 = Rs 10,650 Amount to be invested further = Rs 46,150 Amount after 3 years = 46,150 [1 + 20/100]3 = Rs 79,747.20 Total interest = 79747.20 - 35,500 = Rs 44,247.20.
Q. No. 28:
The compound interest accured on an amount of Rs 2000 at the end of three years is Rs 519.524. What is the rate of interest percent per annum ?
Answer: B CI = P{(1 +r/100)3 -1 } => P {(1 + 15/100)3 -1} = 9844.5375 => P[1.520875 -1] = 9844.5375 P = Rs 18,900.
Q. No. 30:
A part of rs 9600 is invested at a 5% annual return, while the remainder is invested at a 3% annual return. If the annual income from both portions is the same, what is the total income from the two investments ?
Answer: C Let the annual amount investment at 5% and 3% be Rs x and Rs (9600-x) respectively. Then, (x*5*1)/100 = [(9600-x)*3*1]/100 => x = Rs 3600. So, total income = (3600*5*1)/100 + [(9600-3600)*3*1]/100 => 180 + 180 = Rs 360.