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Best GRE Mock Tests for Students
Mr. Deepak Raheja purchased NSC certificates worth ₹50,000 on 1st June 2017, which would mature to ₹1,00,000 on 31st May 2021 at a simple interest rate. Find the annual interest rate offered by the Post Office.
(a) 24%
(b) 22%
(c) 16%
(d) 25%
(e) None of these
Option d – 25%
The simple interest earned by Mr. Ishan on a certain principal “P” in 8 years at 4% p.a. is equal to the simple interest earned by Ms. Komal on ₹56,000 in 6 years at 16% p.a. Find the value of “P” (₹).
(a) 1,82,000
(b) 1,04,000
(c) 1,12,000
(d) 1,68,000
(e) None of these
Option d – 1,68,000
If a sum of Money becomes three times its original value in 40 years at simple interest, what is the annual rate of interest?
(a) 5%
(b) 6%
(c) 4%
(d) 3½%
(e) None of these
Option a – 5%
What equal yearly instalment will clear a debt of ₹10,920 due in 3 years at 12% p.a. simple interest?
(a) 3,250
(b) 5,450
(c) 5,600
(d) 5,500
(e) None of these
Option a – 3,250
If the simple interest on a certain amount for 4 years is 20% of the principal, determine the annual rate of interest.
(a) 4%
(b) 7%
(c) 6%
(d) 5%
(e) None of these
Option d – 5%
A sum of Money invested for ‘T’ years becomes ₹12,000 at 10% p.a. simple interest. When invested at 4% p.a., it amounts to ₹6,000. Find the value of T.
(a) 45 years
(b) 60 years
(c) 40 years
(d) 50 years
(e) None of these
Option d – 50 years
Shubham lent a certain amount at simple interest for 6 years. If he had charged 4% more interest per annum, he would have earned ₹390 extra. Find the amount lent.
(a) 650
(b) 1,950
(c) 1,300
(d) 1,625
(e) None of these
Option d – 1,625
Mr. Manav invested ₹12,00,000 at 10% p.a. simple interest and another sum ‘P’ at 20% p.a. simple interest. The overall annual interest rate earned was 14% p.a. Find the total investment (in lakhs).
(a) 25
(b) 15
(c) 100
(d) 20
(e) None of these
Option d – 20
Mr. Naval lent ₹40,000 to Mr. Ashok for 2 years and ₹20,000 to Mr. Yatin for 4 years at the same simple interest rate. The total interest he received from both was ₹22,000. Find the annual rate of interest.
(a) 14%
(b) 15%
(c) 12%
(d) 13.75%
(e) None of these
Option d – 13.75%
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