Simple & Compound Interest(Quantitative Aptitude > Interest ) Questions and answers for exam Preparation

Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)

Total Questions : 1171 | Page 10 of 118 pages

Sanjay borrowed a certain sum from Anil at a certain rate of simple interest for 2 years. He lent this sum to Ram at the same rate of interest compounded annually for the same period. At the end of two years, he received Rs. 4200 as compound interest but paid Rs. 4000 only as simple interest. Find the rate of interest?

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Answer: Option A. -> 10%
- Suppose the sum borrowed = Rs x Rate of interest = R% Time = 2 years

Question 92.

If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in:

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Answer: Option B. -> 12 years
- P ( 1 + R ) 4 = 3P ( 1 + R ) 4 = 3 ...(i) 100 100 Let P ( 1 + R ) n 100 = 27P ( 1 + R ) n 100 = 27 = (3)3 = ( 1 + R ) 4 100 x3 [using (i)] ( 1 + R ) n 100 = ( 1 + R ) 12 100 n = 12 Required time = 12 years.

Question 93. Tushar borrowed a sum of Rs. 12000 at 15% per annum from a money - lender on 13th January, 1987 and return the amount on 8th June, 1987 to clear his debt. Then the amount paid by Tushar to the money - lender to clear his debt was = ?

Rs. 15000
Rs. 11394
Rs. 12720
Rs. 13650

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Answer: Option C. -> Rs. 12720

Question 94. Vishwas borrowed a total amount of Rs. 30000, part of it on simple interest rate of 12 p.c.p.a. and remaining on simple interest rate of 10 p.c.p.a. If at the end of 2 year she paid in all Rs. 36480 to settle the loan amount, what was the amount borrowed at 12 p.c.p.a ?

Rs. 12000
Rs. 16000
Rs. 17500
Rs. 18000

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Answer: Option A. -> Rs. 12000

Question 95. A sum of Rs. 18750 is left by a will by a father to be divided between the two sons, 12 and 14 years of age, so that when they attain maturity at 18, the amount (principal + interest) received by each at 5 percent simple interest will be the same. Find the sum alloted at present to each son.

Rs. 9500, Rs. 9250
Rs. 8000, Rs. 1750
Rs. 9000, Rs. 9750
None of these

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Answer: Option C. -> Rs. 9000, Rs. 9750

Question 96. I had Rs. 10000 with me. Out of this money I lent some money to A for 2 years @ 15% simple interest. I lent the remaining money to B for an equal number of years @18% simple interest. After 2 years, I found that A had given me Rs. 360 more as interest as compared to B. The amount of money which I had lent to B must have been.

Rs. 2000
Rs. 3000
Rs. 4000
Rs. 5000

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Answer: Option C. -> Rs. 4000

Question 97. A certain sum of money amount to Rs 2200 at 5% interest Rs 2320 at 8% interest in the same period of time. The period of time is = ?

2 years
4 years
5 years
3 years

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Answer: Option A. -> 2 years

Question 98. For 2 years, a sum was put at SI at a certain rate. If the rate was 3% higher, it would have fetched Rs. 300 more. What will be the sum ?

Rs. 5000
Rs. 4800
Rs. 2500
Rs. 4484

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Answer: Option A. -> Rs. 5000

Question 99. A money lender 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 actually ?

10%
$$10\frac{1}{9}$$ %
11%
$$11\frac{1}{9}$$ %

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Answer: Option D. -> $$11\frac{1}{9}$$ %

Question 100. An amount of Rs. 1,00,000 is invested in two types of shares. The first yields an interest of 9% p.a. and second, 11% p.a. If the total interest at the end of one year is $$9\frac{3}{4}$$ %, then the amount invested in each share was -