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

Question 1101. A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?

Discuss Question

Answer: Option D. -> 12% p.a.

If the interest earned is 25% more than the earlier interest then the rate of interest also should be 25% higher than the earlier rate. Let the earlier rate of interest be x%. Now it will be (x + 3)% % increase = (x + 3) - x/x * 100 = 25=> x = 12

Question 1102.

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:

5%
8%
12%
15%

Discuss Question

Answer: Option C. -> 12%

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs.

2205
x 5

= Rs. 3675
3

Principal = Rs. (9800 - 3675) = Rs. 6125.

Hence, rate =

100 x 3675
%
= 12%
6125 x 5

Video Explanation: https://youtu.be/UYwiBCRN39s

Question 1103.

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?

Discuss Question

Answer: Option C. -> 2 : 3

Let the principal be P and rate of interest be R%.

Required ratio =

P x R x 6

100
=
6PR
=
6
= 2 : 3.

P x R x 9

100
9PR
9

Video Explanation: https://youtu.be/GaaEDwTWc6w

Question 1104.

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?

Discuss Question

Answer: Option D. -> Cannot be determined

We need to know the S.I., principal and time to find the rate.

Since the principal is not given, so data is inadequate.

Question 1105.

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

Rs. 112.50
Rs. 125
Rs. 225
Rs. 167.50

Discuss Question

Answer: Option A. -> Rs. 112.50

Gain in 2 years
= Rs.

5000 x
25
x
2

-

5000 x 4 x 2

4
100
100
= Rs. (625 - 400)
= Rs. 225.

Gain in 1 year = Rs.

225

= Rs. 112.50
2

Video Explanation: https://youtu.be/zBjcwqIcmL4

Question 1106.

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.

Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.

Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.

Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.

Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

The simple interest on a sum of money is Rs. 50. What is the sum?

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer

Discuss Question

Answer: Option E. -> Both I and II are necessary to answer

Given : S.I. = Rs. 50.

I gives, R = 10% p.a.

II gives, T = 10 years.

Sum =

100 x S.I.

= Rs.

100 x 50

= Rs. 50.
T x R
10 x 10

Thus, I and II together give the answer.

Correct answer is (E).

Question 1107.

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.

Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.

Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.

Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.

Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

What is the rate of simple interest?

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer

Discuss Question

Answer: Option D. -> Both I and II are not sufficient to answer

We know that, R =

100 x S.I.

P x T

Now, I gives, S.I. = Rs. 4000.

II gives, T = 4 years.

But, P is unknown. So, we cannot find R.

So, given data is insufficient to get R.

Correct answer is (D).

Question 1108.

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.

Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.

Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.

Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.

Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

What is the sum which earned interest?

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer

Discuss Question

Answer: Option E. -> Both I and II are necessary to answer

Let the sum be Rs. x.

I gives, S.I. = Rs. 7000 and T = 7 years.

II gives, Sum + S.I. for 5 years = 2 x Sum Sum = S.I. for 5 years.

Now, S.I. for 7 years = Rs. 7000.

S.I. for 1 year = Rs.
7000
= Rs. 1000.
7

Thus, I and II both are needed to get the answer.

Correct answer is (E).

Question 1109.

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.

Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.

Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.

Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.

Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

What percentage of simple interest per annum did Anand pay to Deepak?

I alone sufficient while II alone not sufficient to answer
II alone sufficient while I alone not sufficient to answer
Either I or II alone sufficient to answer
Both I and II are not sufficient to answer
Both I and II are necessary to answer

Discuss Question

Answer: Option E. -> Both I and II are necessary to answer

Let the rate be R% p.a.

I gives, P = Rs. 8000 and T = 4 years.

II gives, S.I. = Rs. (8800 - 8000) = Rs. 800.

R =

100 x S.I.

=

100 x 800
%
= 2
1
% p.a.
P x T
8000 x 4
2

Thus, I and II both are needed to get the answer.

Correct answer is (E).

Question 1110. Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1120?

Rs.1000
Rs.1100
Rs.1050
Rs.1200

Discuss Question

Answer: Option A. -> Rs.1000

1120 = P [1 + (5*12/5)/100]

P= 1000

Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

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