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 106 of 118 pages

Question 1051. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

3.6
6
18
Cannot be determined
None of these

Discuss Question

Answer: Option B. -> 6

Let rate = R% and time = R years. Then, (1200 * R * R) / 100 = 432 12R² = 432 R² = 36 => R = 6.

Question 1052. A man took loan from a bank at the rate of 12% p.a. S.I. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was?

Rs. 2000
Rs. 10000
Rs. 15000
Rs. 20000

Discuss Question

Answer: Option C. -> Rs. 15000

Principal = (100 * 5400) / (12 * 3) = Rs. 15000

Question 1053. A sum of Rs. 125000 amounts to Rs. 15500 in 4 years at the rate of simple interest. What is the rate of interest?

Discuss Question

Answer: Option D. -> 6%

S.I. = (15500 - 12500) = Rs. 3000\Rate = (100 * 3000) / (12500 * 4) = 6%

Question 1054. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is?

0.1%
0.2%
0.3%
0.4%

Discuss Question

Answer: Option C. -> 0.3%

(1500 * R₁ * 3)/100 - (1500 * R₂ * 3)/100 = 13.50
4500(R₁ - R₂) = 1350 R₁ - R₂ = 0.3%

Question 1055. Peter invested an amount of Rs. 12,000 at the rate of 10% p.a simple interest and another amount at the rate of 20% p.a. simple interest. The total interest earned at the end of one year on the total amount invested became 14% p.a. Find the total amount invested?

Rs. 20,000
Rs. 22,000
Rs. 24,000
Rs. 25,000

Discuss Question

Answer: Option A. -> Rs. 20,000

Let the second amount be Rs. x. Then,(12000 * 10 * 1)/100 + (x * 20 * 1)/100 = [(12000 + x) * 14 * 1] / 100120000 + 20x = 16800 + 14xx = 8000Total investment = 12000 + 8000 = Rs. 20,000.

Question 1056. If the annual rate of simple interest increases from 10% to 12 1/2 %, a man's yearly income increases by Rs. 1250. His principal in Rs. is?

45000
50000
60000
65000

Discuss Question

Answer: Option B. -> 50000

Let the sum be Rs. x. Then,(x * 25/2 * 1/100) - (x * 10 * 1)/100 = 125025x - 20x = 250000x = 50000

Question 1057. A money lender finds that due to a fall in the annual rate of interest from 8% to 7 3/4 % his yearly income diminishes by Rs. 61.50, his capital is?

Rs. 22,400
Rs. 23,800
Rs. 24,600
Rs. 26,000

Discuss Question

Answer: Option C. -> Rs. 24,600

Let the capital be Rs. x. Then,(x * 8 * 1)/100 - (x * 31/4 * 1/100) = 61.5032x - 31x = 6150 * 4x = 24,600.

Question 1058. The price of a T.V. set worth Rs. 20000 is to be paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be?

Rs. 1050
Rs. 2050
Rs. 3000
None of these

Discuss Question

Answer: Option D. -> None of these

Money paid in cash = Rs. 1000Balance payment = (20000 - 1000) = Rs. 19000

Question 1059. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in scheme B?

Rs. 6400
Rs. 6500
Rs. 7200
Rs. 7500

Discuss Question

Answer: Option A. -> Rs. 6400

Let the sum invested in scheme A be Rs. x and that in scheme B be Rs. (13900 - x). Then,(x * 14 * 2)/100 + [(13900 - x) * 11 * 2]/100 = 350828x - 22x = 350800 - (13900 * 22)6x = 45000 => x = 7500So, sum invested in scheme B = (13900 - 7500) = Rs. 6400.

Question 1060. An amount of Rs. 100000 is invested in two types of shares. The first yields an interest of 9% p.a and the second, 11% p.a. If the total interest at the end of one year is 9 3/4 %, then the amount invested in each share was?

Rs. 52500; Rs. 47500
Rs. 62500; Rs. 37500
Rs. 72500; Rs. 27500
Rs. 82500; Rs. 17500

Discuss Question

Answer: Option B. -> Rs. 62500; Rs. 37500

Let the sum invested at 9% be Rs. x and that invested at 11% be Rs. (100000 - x). Then, (x * 9 * 1)/100 + [(100000 - x) * 11 * 1]/100 = (100000 * 39/4 * 1/100)(9x + 1100000 - 11x)/100 = 39000/4 = 9750x = 62500Sum invested at 9% = Rs. 62500Sum invested at 11% = Rs. (100000 - 62500) = Rs. 37500.