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 108 of 118 pages

Question 1071. A certain sum of money at simple interest amounts to Rs. 1012 in 2 ½ years and to Rs. 1067.20 in 4 years. The rate of interest per annum is:

2.5 %
3 %
4%
5%

Discuss Question

Answer: Option C. -> 4%

S.I for 3/2 years = Rs. (1067.20 - 1012) = Rs. 55.20
S.I for 5/2 years = Rs. (55.20 X 2/3 X 5/2) = Rs. 92
Sum = Rs. (1012 - 92) = Rs. 920
Rate = = 4 %

Question 1072. The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is:

Rs. 4800
Rs. 6000
Rs. 8000
Data Inadequate

Discuss Question

Answer: Option D. -> Data Inadequate

Sum = p.
S.I= ½ p,
Rate= 8 %
Time= 6 years
p/2= .So Data is Inadequate.

Question 1073. At simple interest, a sum doubles after 20 years. The rate of interest per annum is:

5%
10%
12%
Data Inadequate

Discuss Question

Answer: Option A. -> 5%

Sum= p.
S.I= p and Time = 20 years
Rate=
= 5 % per annum

Question 1074. At what rate of simple interest a certain sum will be doubled in 15 years?

5 ½ % p.a
6 % p.a
6 2/3 % p.a
7 ½ % p.a

Discuss Question

Answer: Option C. -> 6 2/3 % p.a

Let the sum be Rs. X.
Then S.I = Rs. X

= 20/3 % p.a = 6 2/3 % p.a

Question 1075. The sum of money that will give Rs.1 as simple interest per day at the rate of 5 % per annum is?

Rs.730
Rs.3650
Rs.7300
Rs.36500

Discuss Question

Answer: Option C. -> Rs.7300

Annual Interest = Rs 365,
Rate = 5 % p.a

= Rs.7300

Question 1076. A man invests 1/3 of his capital at 7 % p.a ¼ at 8 % p.a and the remainder at 10 % p.a. if his annual income is Rs.561 the capital is?

Rs.5400
Rs.6000
Rs.6600
Rs.7200

Discuss Question

Answer: Option C. -> Rs.6600

Let capital be Rs. x.
Then
(x/3 Ã— 7/100 Ã— 1) + (x/4 Ã— 8/100 Ã— 1) + {x “ (x/3 + x/4)} Ã— 10/100 Ã— 1 = 561
=> 7x/300 + x/50 + 5x/120 = 561
=> 14x + 12x + 25x = 336600
=> 51x = 336600
=> x = 6600

Question 1077. A certain sum is interested in simple interest if it triples in 10 years. What is the rate of interest?

18 % p.a
20 % p.a
22 %p.a
25% p.a

Discuss Question

Answer: Option B. -> 20 % p.a

Let the sum be Rs. x .
Then S.I = Rs (3x - x ) = Rs 2x
Therefore x Ã— 12/100 Ã— 10 = 2x
=> R = 20% p.a

Question 1078. In how many years a sum will be thrice of it at the rate of 10% per annum?

15 years
20 Years
30 years
40 years

Discuss Question

Answer: Option B. -> 20 Years

Let the sum be Rs. x .
Then S.I = Rs (3x - x) = Rs 2x
x Ã— 10/100 Ã— t = 2x
=> t = 20 Years

Question 1079. A certain sum of money becomes three times of itself in 20 years at simple interest in how many years does it become double of itself at the same rate?

8 years
10 Years
12 years
14 years

Discuss Question

Answer: Option B. -> 10 Years

Let the sum be Rs x.
Then, S. I in 20 Years = Rs (3x - x) = Rs 2x

Now, Sum = Rs. x, Rate = 10 % p.a, S. I = Rs x
Therefore, Time =
= 10 Years

Question 1080. If the annual rate of simple interest increases from 10 % to 12 ½ % a man's annual income increases by Rs. 1250. The principle is?

Rs. 4500
Rs.50000
Rs.60000
Rs.65000

Discuss Question

Answer: Option B. -> Rs.50000

Let the principal be Rs x.
Then
(x Ã— 25/2 Ã— 1/100 Ã— 1) “ (x Ã— 10/100 Ã— 1) = 1250
=> x/8 “ x/10 = 1250
=> 5x - 4x = 50000
=> X = 50000
Hence the principal is Rs 50000