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 109 of 118 pages

Question 1081. Simple interest on a certain sum at a certain amount and rate of interest is 25/16 of the sum. If the numbers representing rate percent and time in years be equal than rate percent per annum is?

8 %
11 ½ %
12 ¼ %
12 ½ %

Discuss Question

Answer: Option D. -> 12 ½ %

Let the sum be Rs x , Rate = R % p.a, Time = R years
S. I = Rs 25x/16
R = 100 Ã— 25x/16 Ã— 1/x Ã—1/R
=> R² = 2500/16
=> R = 50/4 = 25/2
Hence Rate = 12 ½ % p.a

Question 1082. Rs.2000 amount to Rs. 2600 in 5 years at simple interest if the interest rate were increased by 3 %. It would amount to how much?

Rs.2900
Rs.3200
Rs.3600
None of these

Discuss Question

Answer: Option A. -> Rs.2900

Sum = Rs 2000, S. I = Rs 600, Time = 5 Years
Therefore, Rate =
Now sum = Rs 2000, Rate = 9 % p.a, Time = 5 Years

Amount = Rs (2000 + 900) = Rs 2900

Question 1083. If the simple interest on a certain sum of money for 15 months at 7 ½ % p.a exceeds the simple interest on the same sum for 8 months at 12 ½ % p.a by Rs.32.50. The sum is

Rs.312
Rs.312.50
Rs.3120
Rs.3120.50

Discuss Question

Answer: Option C. -> Rs.3120

Let the sum be Rs x.
Then
(x Ã— 15/2 Ã— 1/100 Ã— 15/12) “ (x Ã— 25/2 Ã— 1/100 Ã— 8/12) = 65/2
=> 3x/32 “ x/12 = 65/2
=> 9x “ 8x = 3120
=> X = 3120
Then, Sum = Rs 3120

Question 1084. On a certain sum, the simple interest at the end of 12 ½ years becomes ¾ of the sum. What is the rate percent per annum?

Discuss Question

Answer: Option C. -> 6 %

Let the sum be Rs x.
Then S.I = Rs 3x/4, Time = 25/2 Years
Therefore, Rate = (100 Ã— 3x/4 Ã— 1/x Ã— 2/25) % p.a
= 6 % p.a

Question 1085. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?

1 : 3
1 : 4
2 : 3
Data inadequate

Discuss Question

Answer: Option C. -> 2 : 3

Question 1086. Rs.1000 is invested at 5 % p.a simple interest if the interest is added to the principle after every 10 years. The amount will become Rs. 2000 After

15 years
16 2/3 years
18 years
20 Years

Discuss Question

Answer: Option B. -> 16 2/3 years

S. I for 10 Years = Rs (1000 Ã— 5/100 Ã— 10) = Rs 500
Principle after 10 Years becomes = Rs (1000 + 500)
= Rs 1500
S. I on it = Rs (2000 - 1500) = Rs 500
Time = (50000/7500) Years = 6 2/3 Years
Total Time = (10 + 6 2/3) Years = 16 2/3 Years

Question 1087. With a given rate of simple interest the ratio of the principle and amount for a certain period of time is 4: 5. After 3 years with the same rate of interest to the ratio of the principle and amount becomes 5: 7. The ratio of interest per annum is?

Discuss Question

Answer: Option B. -> 5 %

After t years. Let P = Rs 4x and amount = Rs 5x
P + S.I for t years = Rs 5x ---(i)
P = [P + S.I for (t + 3) Years] = 5 : 7 = 1 : 7/5
= 4x: (7/5 — 4x) = 4x : 28x/5
Therefore, P + S. I for (t+3) Years = Rs 28x /5---- (ii)
On subtracting, we get
S. I for 3 Years = Rs (28x/5 “ 5x)
= Rs 3x/5
S.I on Rs 4x for 3 Years = Rs 3x /5
Therefore, Rate =

Question 1088. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

Discuss Question

Answer: Option C. -> 12%

Question 1089. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?

Rs. 35
Rs. 245
Rs. 350
Cannot be determined

Discuss Question

Answer: Option D. -> Cannot be determined

Question 1090. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6p.a for 2 years. Find his gain in the transaction per year.