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 114 of 118 pages

Question 1131. A certain sum of money doubles itself in 10 years in how much many years will it trible itself at the same rate?

20 years
15 years
30 years
17 1/2 years

Discuss Question

Answer: Option A. -> 20 years

100 ---- 100 --- 10

100 --- 10

--------------------

300 ---- 20 years

Question 1132. In what time will Rs.4000 lent at 3% per annum on simple interest earn as much interest as Rs.5000 will earn in 5 years at 4% per annum on simple interest?

8 1/3 years
9 years
7 1/2 years
7 1/3 years

Discuss Question

Answer: Option A. -> 8 1/3 years

(4000*3*R)/100 = (5000*5*4)/100

R
= 8 1/3

Question 1133. The simple interest on a sum of money is 4/9 of the principal and the number of years is equal to the rate percent. Find the rate and the time?

6 2/3 years; 6 2/3 %
5 1/3 years; 5 1/3 %
4 2/3 years; 4 2/3 %
None

Discuss Question

Answer: Option A. -> 6 2/3 years; 6 2/3 %

4/9 P = (P*R*R)/100

R = 20/3 = 6 2/3%

Question 1134. Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5% the whole annual interest from both the sum is Rs.85. How much was lent at 5%?

Rs.1000
Rs.750
Rs.600
Rs.500

Discuss Question

Answer: Option D. -> Rs.500

(x*5*1)/100 + [(1500 - x)*6*1]/100 = 85

5x/100 + 90 “ 6x/100 = 85

x/100 = 5

=> x = 500

Question 1135. What amount does Kiran get if he invests Rs. 18000 at 15% p.a. simple interest for four years?

Rs. 24800
Rs. 28400
Rs. 24400
Rs. 28800
None of these

Discuss Question

Answer: Option D. -> Rs. 28800

Simple interest = (18000 * 4 * 15)/100 = Rs. 10800Amount = P + I = 18000 + 10800 = Rs. 28800

Question 1136. How much interest can a person get on Rs. 8200 at 17.5% p.a. simple interest for a period of two years and six months?

Rs. 3770
Rs. 2850.50
Rs. 3587.50
Rs. 3750
None of these

Discuss Question

Answer: Option C. -> Rs. 3587.50

I = (8200 * 2.5 * 17.5)/100 = (8200 * 5 * 35)/(100 * 2 * 2) = Rs. 3587.50

Question 1137. A certain sum becomes Rs. 20720 in four years and 24080 in six years at simple interest. Find sum and rate of interest?

Rs. 12000; 12% p.a.
Rs. 14000; 12% p.a.
Rs. 12000; 15% p.a.
Rs. 14000; 15% p.a.
None of these

Discuss Question

Answer: Option B. -> Rs. 14000; 12% p.a.

Let the interest for one year be x.As amount = Principal + Interest, we have P + 4x = 20720 --- (1) ; P + 6x = 24080 --- (2)Solving the equations (1) and (2), we can get P = Rs. 14000 and x = Rs. 1680Interest for one year on Rs. 14000 is Rs. 1680So, R = (100 * 1680)/(14000 * 1) = 12% p.a.

Question 1138. A sum of money triples itself in twelve years at simple interest. Find the rate of interest?

12 1/2 % p.a.
14 4/7 % p.a.
15 2/3 % p.a.
13 3/8 % p.a.
None of these

Discuss Question

Answer: Option E. -> None of these

Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest) => Interest = 3x - x = Rs. 2xR = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3 %

Question 1139. In how many years does a sum of Rs. 5000 yield a simple interest of Rs. 16500 at 15% p.a.?

22
24
25
23
None of these

Discuss Question

Answer: Option A. -> 22

T = (100 * 16500)/(15 * 5000) = 22 years

Question 1140. A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?