Arun borrowed a sum of money from Jayant at the rate of 8% per annum simple interest for the next 4 year, 10% per annum for the next 6 years and 12% per annum for the period beyond 10 year. If he pays a total of Rs 12,160 as interest only at the end of 15 year, how much money did he borrow ?
A sum of Rs 1440 is lent out in three parts in such a way that the interests on first part at 2% for 3 years, second part at 3% for 4 year and the third part 4% for 5 years are equal. Then the difference between the largest and the smallest sum is :
Answer: B SI1 : SI2 : SI3 = x*6% : y*12% : z*20% = k x : y: z = [k/6 : k/12 : k/20 ] * 60 = 10 :5:3 Required difference = 7/18 * 1440 = Rs 560.
Q. No. 39:
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. 40:
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. 41:
One can purchase a flat from a house building society for Rs 55,000 cash or the terms that he should pay Rs 4275 as cash down payment and the rest in three equal yearly installments. The society charges interest at the rate of 16% per annum compounded half yearly. If the flat is purchased under installment plan, find the value of each installment.
Answer: B Cash price of the flat = Rs 55,000 In the installments plan, cash down payment = Rs 4275 Present value to be paid in installments = 55000 - 4275 = 50,725 Let each installment be Rs x. Rate = 16% per annum = 8% half yearly. A = P (1+ r/100)t x = P (1+ 8/100)1 => P = Rs 25x/27 Similarly, principal for the 2nd installment = (25/17)2 x Principal for the 3rd installment = (25/17)3 x Total principal = 25x/27 + (25/17)2 x + (25/17)3 x = 50,725 On solving, we get x = Rs 19,683. Each installment = Rs 19,683
Q. No. 42:
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.