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 107 of 118 pages

Question 1061. A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is?

Rs. 200
Rs. 600
Rs. 800
Rs. 1200

Discuss Question

Answer: Option D. -> Rs. 1200

Let the parts be x, y and [2600 - (x + y)].Then,(x * 4 * 1)/100 = (y * 6 * 1)/100 = {[2600 - (x + y)] * 8 * 1}/100y/x = 4/6 = 2/3 or y = 2/3 xSo, (x * 4 * 1)/100 = [(2600 - 5/3 x) * 80/10052x = (7800 * 8) => x = 1200Money invested at 4% = Rs. 1200.

Question 1062. Divide Rs. 2379 into 3 parts so that their amounts after 2, 3 and 4 years respectively may be equal, the rate of interest being 5% per annum at simple interest. The first part is?

Rs. 759
Rs. 792
Rs. 818
Rs. 828

Discuss Question

Answer: Option D. -> Rs. 828

Let the parts be x, y and [2379 - (x + y)]x + (x * 2 * 5/100) = y + (y * 3 * 5/100) = z + (z * 4 * 5/100)11x/10 = 23y/20 = 6z/5 = kx = 10k/11, y = 20k/23, z = 5k/6But x + y + z = 237910k/11 + 20k/23 + 5k/6 = 2379k = (2379 * 11 * 23 * 6)/3965 = (3 * 11 * 23 * 6)/5x = [10/11 * (3 * 11 * 23 * 6)/5] = 828Hence, the first part is Rs. 828.

Question 1063. David invested certain amount in three different schemes. A, B and C with the rate of interest 10% p.a., 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs. 3200 and the amount invested in scheme C was 150% of the amount invested in scheme A and 240% of the amount invested in scheme B, what was the amount invested in scheme B?

Rs. 5000
Rs. 6500
Rs. 8000
Cannot be determined
None of these

Discuss Question

Answer: Option A. -> Rs. 5000

Let x, y and z be the amount invested in schemes A, B and C respectively. Then, (x * 10 * 1)/100 + (y * 12 * 1)/100 + (z * 15 * 1)/100 = 320010x + 12y + 15z = 320000Now, z = 240% of y = 12/5 yAnd, z = 150% of x = 3/2 xx = 2/3 z = ( 2/3 * 12/5) y = 8/5 y16y + 12y + 36y = 320000y = 5000Sum invested in scheme B = Rs. 5000.

Question 1064. A sum of money will double it set in 16 years at simple interest with a yearly rate of:

10%
6 1/4 %
8 %
16 %

Discuss Question

Answer: Option B. -> 6 1/4 %

Principal = P.
S.I= P
Rate =
= 100/16 = 6 1/4 %

Question 1065. The simple interest on a sum of money is 1/9 of the principal and the number of years is equal to the rate percent per annum. The rate percent per annum is

3
1/3
31/3
3/10

Discuss Question

Answer: Option C. -> 31/3

Principal = P.
Then, S.I. = p/q
Rate = R % per annum and Time = R years.
p/9
=

or R² = 100/9
or R = 10/3 = 3 1/3 % per annum

Question 1066. Rs. 800 amounts to Rs. 920 in 3 years at simple interest if the interest rate is increased by 3 %, it would amount to how much?

Rs. 1056
Rs. 1112
Rs. 1182
Rs. 992

Discuss Question

Answer: Option D. -> Rs. 992

Principal = Rs. 800
S.I = Rs (920-800) = Rs.120 and Time = 3 years
Original rate = = 5 % New Rate = 8 %
S.I = Rs. = Rs. 192.
Amount = Rs. 992

Question 1067. A sum of money at simple interest amount to Rs. 2240 in 2 years and Re. 2600 in 5 years. The sum is:

Rs. 1880
Rs. 2000
Rs. 2120
data inadequate

Discuss Question

Answer: Option B. -> Rs. 2000

S.I for 3 years = Rs. (2600-2240) = Rs. 360
S.I for 2 years = Rs. (360/3 Ã— 2) = Rs. 240.
Sum = Rs. (2240-240) = Rs. 2000.

Question 1068. A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is:

2.5%
3.75 %
5 %
7.5 %

Discuss Question

Answer: Option A. -> 2.5%

S.I for 3 years = Rs. (1350-1260) = Rs. 90
S.I for 2 years = Rs (90/3 Ã— 2) = Rs. 60
Sum = Rs. (1260-60) = Rs. 1200
Rate = 6000/2400 = 2.5%

Question 1069. A lent Rs. 600 to B for 2 years and Rs. 150 to c for 4 years and receive as together from both Rs. 90 as simple interest. The rate of interest is:

Discuss Question

Answer: Option B. -> 5%

Rate = x % per annum = 90
(or)
18x = 90
or x = 5

Question 1070. The simple interest on a sum of money will be Rs. 600 after 10 years. If the principal is trabled after 5 years which will be the total interest at the end of the tenth year?

Rs. 600
Rs. 900
Rs. 1200
data inadequate

Discuss Question

Answer: Option C. -> Rs. 1200

Sum= Rs.x.
S.I= Rs. 600
Time= 10 years
Rate=
= (6000/x)% per annum.
S.I on Rs. X for 1^st five years
= Rs. (x X 6000/x X 5 X 1/100) = Rs. 900
Total interest = Rs. (300+900) = Rs. 1200