**Simple interest**

**(Set – 8)**

60) The interest received on a sum of money when invested in scheme A is equal to the interest

received on the same sum of money when invested for 2yrs in scheme B. Scheme A offers SI and

scheme B offers CI. Both the schemes offer the same rate of interest. If the numerical value of

the number of years for which the sum is invested in scheme A is same as the numerical value of

the rate of interest offered by the same scheme, what is the rate of interest offered by scheme

A?

(a) 190/99% (b) 210/99% (c) 200/99% (d) 210/99% (e) 150/99%

61) A man invests Rs.5000 for 3 years at 5% p.a. compound interest reckoned yearly. Income tax

at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at

the end of the third year(Approx.)?

(a) 5624 (b) 6325 (c) 6241 (d) 5236 (e) None of these

62) A sum of Rs. 1275 is borrowed at 4% pa compound interest and paid back in 2 equal annual

installments. What is the amount of each installment??

(a) 676 (b) 424 (c) 484 (d) 624 (e) None of these

63) Mohit takes a loan of Rs. 8400 at 10% p.a. compounded annually which is to be repaid in two

equal annual installments. One at the end of one year and the other at the end of the second

year. The value of each installment is?

(a) 4560 (b) 4240 (c) 4840 (d) 5210 (e) None of these

64) Three equal installment, each of Rs 200, were paid at the end of year on a sum borrowed at

20% compound interest compounded annually. Find the sum.

(a) 420 (b) 421.256 (c) 456.215 (d) 421.296 (e) None of these

65) A sum of rs.91000 is borrowed at 20% p.a. Compound Interest .If the amount is to be paid in

3 equal installments, the each installment amounts to?

(a) 42000 (b) 43200 (c) 45200 (d) 44000 (e) None of these

66) A man borrows a certain sum of money and pays it back in 2 years in two equal installments.

If C.I. is reckoned at 5% per annum and he pays back annually Rs. 441, what sum did he borrow?

(a) 460 (b) 820 (c) 420 (d) 440 (e) None of these

Simple interest

(Set – 8)

67) David invested certain amount in three different schemes A, B and C with the rate of interest

10% p.a., 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs.

3200 and the amount invested in Scheme C was 150% of the amount invested in Scheme A and

240% of the amount invested in Scheme B, what was the amount invested in Scheme B?

(a) 4000 (b) 5000 (c) 5600 (d) 4600 (e) None of these

68) Abhay deposited Rs. 400000 at 12% simple interest for 4 years whereas Saurav deposited

twice the amount at compound interest at half the rate at which Abhay deposited his amount for

half the time period for which Abhay deposited the amount. What would be the difference between

the accumulated amounts of Abhay and Saurav?

(a) 310560 (b) 382000 (c) 248500 (d) 306880 (e) None of these