Question : A moneylender claims to lend money at the rate of 10% per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money?
Option 1: $10$%
Option 2: $10\frac{1}{9}$%
Option 3: $11$%
Option 4: $11\frac{1}{9}$%
Correct Answer: $11\frac{1}{9}$%
Solution : Given: Rate = 10% Let the amount lent be Rs. 100. Interest =10% of 100 = Rs. 10 Actual amount = 100 – 10 = Rs. 90 Actual rate = $10×\frac{100}{90}=11\frac{1}{9}$% Hence, the correct answer is $11\frac{1}{9}$%.
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Question : The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum at the same rate for 2 years is Rs. 170. The rate of interest is:
Option 1: $8$%
Option 2: $29\frac{1}{6}$%
Option 3: $12\frac{1}{2}$%
Option 4: $5\frac{5}{17}$%
Question : The rate of interest per annum at which the total simple interest of a certain capital for 1 year is equal to the total simple interest of the same capital at the rate of 5% per annum for 2 years, is:
Option 1: $\frac{5}{2}$%
Option 2: $10$%
Option 3: $25$%
Option 4: $12.5$%
Question : The Simple Interest on a sum of money is $\frac{1}{4}$ of the principal, and the number of years is equal to the rate percent per annum. The rate percent is:
Option 1: 2.5%
Option 2: 5%
Option 3: 7.5%
Option 4: 10%
Question : A man invests half his capital at the rate of 10% per annum, one-third at 9% and the rest at 12% per annum. The average rate of interest per annum, which he gets, is:
Option 1: 9%
Option 2: 10%
Option 3: 10.5%
Option 4: 12%
Question : The simple interest on a sum of money at 10% per annum for 2 years is 8,100. Compounded annually, what would be the compound interest (in ) on the same sum for the same period at the same rate of interest?
Option 1: 8,100
Option 2: 8,505
Option 3: 8,715
Option 4: 9,000
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