**Simple & Compound Interest Quiz-3**

Maths is an important subject in CLAT,DULLB & Other Law Exams. In any of law exam, Maths carries weightage of 20 -25 % of questions. With focused practice good marks can be fetched from this section. These questions are very important in achieving your success in CLAT, DULLB and Other Law Exams..

**Q1.**The simple interest on Rs. 500 at 6% per annum from May 3rd to July 15th in the same year is

Solution

Time from May 3rd to July 15th

= 28 days of May + 30 days of June and 15 days of July

= 73 days = 1/5 years

I = = Rs.6

**Q2.**A sum of money at simple interest comes four times in 24 years. The rate Percent of interest per annum is

Solution

b): We have, n = 4 and T = 24 years

Rate of interest

= **Q3.**What should be the least number of years in which the simple interest on Rs 2600 at % will be exact number of rupees?

Solution

(b): SI =

T has to be a multiple of 3

**Q4.**A sum of money doubles itself at CI in 15 year. In how many years will it become eight times?

Solution

(a): A = 2P = P (1 + r)15 r = 21/15 - 1

A = 8P = P(1 + 215 - 1)t 8 = 23 = 21/15

T = 45

**Q5.**A certain sum amounts to Rs. 7300 in 2 years & to Rs. 8575 in 3 years compounded annually. Find the sum

Solution

A = P (1 + r)t; 7300 = P (1 + r)2

A = P (1 + r)t; 7300 = P (1 + r)2

8575 = P (I + r)3

P = 7300 = = 5290**Q6.**The amount of Rs 7500 at compound interest at 4% per annum for 2 years is.

Solution

(c): A = 7500 (1 + .04)2 = 7500 x 1.0816 = 8112

(c): A = 7500 (1 + .04)2 = 7500 x 1.0816 = 8112

**Q7.**27. If the SI on a sum of money at 5% per annum for 3 years is Rs. 1200, the CI on the same sum for the same period & rate is?

Solution

(b): SI = 1200 = P = 8000

A = 8000(1.05)3 = (8000) = 9261

CI = 9261 – 8000 = 1261

**Q8.**The difference between the CI & SI on a sum of money for 2 years at per year is Rs 150. The sum is

Solution

d): SI & Cl for 1st yr

150 = ; SI = 600

P = 9600**Q9.**If the difference between CI, compounded half early & the SI on a sum at 10% per annum for one year is Rs 25. The sum is.

Solution

(c): Interest for half year = 5%

= 10,000**Q10.**If the CI on a certain sum at % for 3 years is Rs 1270, the SI on the same sum at the same rate & for the same period is

Solution

c): Cl = A - P = P – P

= 1270 P = 1270

P = P = 2160