This practice GMAT test includes only simple interest questions, which are part of the GMAT problem solving section.
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In how many years will a sum of money doubles itself at 5% per annum simple interest?
A. 29 years
B. 20 years
C. 22 years
D. 21 years
E. 25 years
A sum of money becomes thrice itself in 5 years at simple interest. In how many years will it become six time at the same rate?
A. 12½ years
B. 11 years
C. 12 years
D. 11½ years
E. 10 years
A sum of money becomes double itself in 8 years at simple interest. How many times will it become in 16 years at the same rate?
A. 5.25
B. 5.5
C. 4.25
D. 3.5
E. 4
A part of certain sum of money is invested at 9% per annum and the rest at 12% per annum, if the interest earned in each case for the same period is equal, then ratio of the sums invested is?
A. 3 : 4
B. 2 : 3
C. 4 : 3
D. 3 : 2
E. 3 : 5
Equal amounts of money are deposited in two banks each at 15% per annum for 3.5 years and 5 years respectively. If the difference between their interest is $144 find the each sum.
A. $500
B. $920
C. $640
D. $3467
E. $800
A sum of $2665 is lent into two parts so that the interest on the first part for 8 years at 3% per annum may be equal to the interest on the second part for 3 years at 5% per annum. Find the second sum.
A. $2341
B. $1640
C. $1678
D. $1650
E. None
If A lends $3500 to B at 10% per annum and B lends the same sum to C at 11.5% per annum then the gain of B in a period of 3 years is?
A. $115.50
B. $157.70
C. $107.50
D. $177.50
E. None of these
A person lent a certain sum of money at 4% per annum at simple interest and in 8 years the interest amounted to $340 less than the sum lent. What was the sum lent?
B. $400
C. $450
D. $550
E. $600
If $450 amount to $540 in 4 years, what will it amount to in 6 years at the same rate % per annum?
A. $585
B. $685
C. $575
D. $675
$800 amounts to $920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much?
A. $1182
B. $1112
C. $992
D. $1056
E. $1200
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