Tag: mathematics and statistics

Questions Related to mathematics and statistics

A company pays a dividend of 15% on its ten-rupee shares from which it deducts income tax at the rate of 22%. Find the annual income of a man who owns one thousand shares of this company.

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. 1170

  2. 1270

  3. 1070

  4. 1330

Show answer
Correct Option: A
Explanation:
Annual Income $=Rs.\ \dfrac{(10×1000×15)}{100}$
$=Rs.\ 1500$
Income tax deducted $= \dfrac{(22×1500)}{100}$
$=Rs.\ 330$
So, Total Income$=Rs.\ 1500 - 330$
$= Rs.\ 1170 .$

At what rate percent will a sum of money doubles in $16$ years?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $\dfrac{25}{4}\%$

  2. $\dfrac{21}{4}\%$

  3. $5\%$

  4. $15\%$

Show answer
Correct Option: A
Explanation:

Let sum of money be $p$.

Thus, amount will be $2p$
Then S.I $= p$
Rate $=\dfrac{100 \times p}{p \times 16}=\dfrac{25}{4}$ $\%$

You invested Rs. $1500$ and received Rs. $5000$ after three years. What had been the interest rate?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $111.11\%$

  2. $222.22\%$

  3. $333.33\%$

  4. $77.77\%$

Show answer
Correct Option: D
Explanation:

Amount invested $= 1500$

Amount received after three years $= 5000$

$\Rightarrow$ Interest earned $= 5000-1500 = 3500$
Let interest rate$\%$ be $r$
$\Rightarrow$ $3500 = \dfrac{1500 \times 3 \times r}{100}$
$\Rightarrow$ $r = 77.77\%$

You borrow Rs. $4,000$ from a loan shark. If you owe Rs. $7,200$ in $4$ years, what would be the simple interest rate?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $10\%$

  2. $20\%$

  3. $30\%$

  4. $40\%$

Show answer
Correct Option: B
Explanation:

Given:
Principal $=$ Rs. $ 4,000$
Interest $= 7200 - 4000 = 3200$
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{3200\times 100}{4000\times 4}$
$\Rightarrow R = 20\%$

Thus, the simple interest rate is $20\%$.

John earned Rs. $100$ as simple interest on Rs. $600$ for $6$ months. Find the annual rate of interest.

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $11.11\%$

  2. $22.22\%$

  3. $33.33\%$

  4. $44.44\%$

Show answer
Correct Option: C
Explanation:
Given, Simple interest $=$ Rs. $100$, Principal $=$ Rs. $600$ and period $6$ months
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$R =$ $\dfrac{100\times 100}{600\times 0.5}$
$R = 33.33\%$
Therefore, the annual rate of interest is $33.33\%$.

Sharmila got a Rs. $1300$ loan for $5$ years. She paid Rs. $100$ in interest. What was the interest rate?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $1.1\%$

  2. $1.3\%$

  3. $1.5\%$

  4. $1.7\%$

Show answer
Correct Option: C
Explanation:
Given, principal $=$ Rs. $1300$, Interest $=$ Rs. $100$, period $=5$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{100\times 100}{1300\times 5}$
$\Rightarrow R = 1.5\%$
Therefore, the interest rate is $1.5\%$.

Find rate, when principal $=$ Rs. $3000$; interest $=$ Rs. $400$; time $= 3$ years.

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $1.11\%$

  2. $2.22\%$

  3. $3.33\%$

  4. $4.44\%$

Show answer
Correct Option: D
Explanation:

Given, Principal $=$ Rs. $3000$, interest $=$ Rs. $400$, time $=3$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$R =$ $\dfrac{400\times 100}{3000\times 3}$
$R = 4.44\%$

Oscar earned Rs. $2400$ as simple interest on Rs. `$4500$ for $3$ months. What is the annual rate of interest?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $16.66\%$

  2. $17.77\%$

  3. $18.88\%$

  4. $19.99\%$

Show answer
Correct Option: B
Explanation:
Given, principal $=4500$, Interest $=$ Rs. $2400$, period $=3$ months
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{2400\times 100}{4500\times 3}$
$\Rightarrow R = 17.77\%$
Therefore, the annual rate of interest is $17.77\%$.

To start a grocery shop, a woman borrowed Rs. $1,500$. If the loan was for four years and the amount of interest was Rs. $150$, what simple interest rate was she charged?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $1.5\%$

  2. $2.5\%$

  3. $3.5\%$

  4. $4.5\%$

Show answer
Correct Option: B
Explanation:
Given, principal $=$ Rs. $1500$, Interest $=$ Rs. $150$, period $=4$ years
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{150\times 100}{1500\times 4}$
$\Rightarrow R = 2.5\%$
Therefore, the simple interest is $2.5\%$.

Mr. Joshua borrowed Rs. $5000$ for $2$ years to make home improvements. If he repaid a total of Rs. $15,000$, at what interest rate did he borrow the money?

mathematics and statistics banks and simple interest introduction to interests introduction to interest introduction to interest payments

  1. $15\%$

  2. $25\%$

  3. $35\%$

  4. $45\%$

Show answer
Correct Option: B
Explanation:

Given:
Principal $= 5,000$
Interest $= 15000 - 5000 = 10000$
We know the formula,
Rate of interest, $R =$ $\dfrac{I\times 100}{PT}$
$\Rightarrow R =$ $\dfrac{5000\times 100}{10000\times 2}$
$\Rightarrow R = 25\%$