Sample Material of Online Coaching For SSC CGL (Tier - 2) - Simple Interest
Sample Material SSC CGL TIER-2 Online Coaching
Numerical Aptitude (Chapter: Simple Interest)
Interest
It is the sum which is paid by the borrower to the lender for using the money for a specific time period. The money borrowed is called the Principal. The rate at which the interest is calculated on the principal is called Rate of Interest. The time for which the money is borrowed is Time and the total sum of principal and interest is called the Amount.
Example1: What annual installment will discharge a debt of Rs 600 due in 3 year at 10% per annum simple interest?
Solution. Let each installment be Rs x.
Clearly, first installment will be paid after 1 year. This money will be with
the lender for 2 year. Similarly, he will have Rs x for 1 year and Rs x at the
end.
(amount of Rs x for 2 year) + (amount of Rs x for 1 year Rs x) = 6600
=(x+ x * 10 *2)+(x+x*10*1)+x=6600 100 100
=>(x+x)+(x+x)+x = 6600
5 10
=>(6x+11x+x)= 6600 5 10
=>(12x+11x+10x) = 6600
10
=> 33x = 66000
=> x =66000 = 2000, Hence, each installment = Rs 2000
33
:: Home Assignment for Practice ::
1. If Rs 64 accounts to Rs 83.20 in 2 years, what will Rs 86 amount to in 4 years at the same rate per cent per annum?
(a) Rs 115.80
(b) Rs 127.70
(c) Rs 127.40
(d) Rs 51.60
2. The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs 840. At what rate of interest the same amount of interest can be received on the same sum after 5 years?
(a) 10%
(b) 8%
(c) 9%
(d) 12%
3. The interest on a certain deposit at 4.5% p.a. is Rs 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a.?
(a) Rs 30.25
(b) Rs 22.50
(c) Rs 25
(d) Rs 52.75
4. A sum invested at 5% simple interest per annum grows to Rs 504 in 4 years. The same amount at 10% simple interest per annum in 2½ years will grow to:
(a) Rs 530
(b) Rs 555
(c) Rs 525
(d) Rs 650
5. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
(a) 5 : 3
(b) 4 : 7
(c) 2 : 3
(d) data inadequate