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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 35 of 118 pages
Question 341.

A person takes a loan of Rs. 200 at 5% simple interest . He returns Rs. 100 at the end of 1 year. In order to clear his dues at the end of 2 years,  he would pay :


  1.    Rs. 105
  2.    Rs. 110
  3.    Rs. 115
  4.    Rs. 115.50
 Discuss Question
Answer: Option C. -> Rs. 115

Amount to be paid  = Rs. `(100 + (200 xx 5 xx 1)/(100) + (100 xx 5 xx 1)/(100))` =  Rs. 115.


Question 342.

A sum of Rs.10 is lent to be returned in 11 monthly instalments of Re. 1 each , interest being simple . The rate of interest is :


  1.    `9 1/11`%
  2.    10%
  3.    11%
  4.    `21 9/11`%
 Discuss Question
Answer: Option D. -> `21 9/11`%

Rs. 10 + S.I.  on Rs. 10 for 11 monhs

= Rs. 11 + S.I. on Re. 1 for (1 + 2 + 3 + 4 + ................+ 10) months

`rArr  `     Rs.  10 + S.I.  of Re. 1 for 110 months =  Rs. 11 + S.I.   on  Re. 1 for  55 months

`rArr` S.I. on Re.  1 for 55 months = Re. 1

`:.`Rate = `((100 xx 12)/(1 xx 55))`% = `21 9/11`%


Question 343.

What annual payment will discharge a debt of Rs. 6450 due in 4 years at 5%  simple interest ?


  1.    Rs. 1400
  2.    Rs. 1500
  3.    Rs. 1550
  4.    Rs. 1600
 Discuss Question
Answer: Option B. -> Rs. 1500

Let the annual instalment be Rs. `x`  Then ,

`[ x + ((x xx 3 xx 5)/(100))] + [x + ((x xx 2 xx 5)/(100))] + [x + ((x xx 1 xx 5)/(100))] + x = 6450`

`hArr     (23x)/(20) + (22x)/(20) + (21x)/(20) + x =  6450`

`hArr      86x = 6450 xx 20`

`hArr      x =  1500`


Question 344.

A moneylender finds that  due to a fall in the annual rate of interest from 8% to  `7 3/4`% his yearly income  diminishes by Rs. 61.50. His capital is  :


  1.    Rs. 22,400
  2.    Rs. 23,800
  3.    Rs. 24,600
  4.    Rs. 26,000
 Discuss Question
Answer: Option C. -> Rs. 24,600

Let the capital be Rs. `x` , Then ,

`((x xx 8 xx 1)/(100) - (x xx 31/4 xx 1/100)` =  6150

`hArr    32x - 31x = 6150 xx 4`

`hArr      x = 24600`


Question 345.

If the annual rate of simple interest increases from 10% to  `12 1/2`% , a man's yearly  income increases by  Rs. 1250. His principal  (in Rs.) is :


  1.    45,000
  2.    50,000
  3.    60,000
  4.    65,000
 Discuss Question
Answer: Option B. -> 50,000

Let the sum be Rs.  `x` , Then ,

`(x xx 25/2 xx 1/100) - ((x xx 10 xx 1)/(100))` = 1250

`hArr       25x - 20x =  250000`

`hArr        5x = 250000`

`hArr        x = 50000`


Question 346.

A sum was put at simple interest at a certain rate for 2 years . Had it been put at 3%  higher rate . it would have fetched Rs. 72 more. The sum is  :


  1.    Rs. 1200
  2.    Rs. 1500
  3.    Rs. 1600
  4.    Rs. 1800
 Discuss Question
Answer: Option A. -> Rs. 1200

Let the sum be Rs. `x` and original rate be  R% . Then ,

`(x xx (R + 3) xx 2)/(100) - (x xx R xx 2)/(100) ` = 72

`hArr     2Rx + 6x - 2Rx = 7200`

`hArr      6x = 7200`

`hArr       x =  1200`


Question 347.

The rates of simple interest  in two banks A and B are in he ratio  5 : 4  A person wants o deposit his total  savings in two banks in such a way that he received equal half yearly interest from  both . He should deposit  the saving in  banks   A and B in he ratio  :


  1.    2 : 5
  2.    4 : 5
  3.    5 : 2
  4.    5 : 4
 Discuss Question
Answer: Option B. -> 4 : 5

Let the savings be  X and Y and the rates of simple interest be `5x` and `4x`  respectively .

Then , `X xx 5x xx 1/2 xx 1/100 =  Y xx 4x xx 1/2 xx 1/100`

or `X/Y = 4/5` , i.e.,

X : Y =  4 : 5


Question 348.

What should be the least number of years in which the simple  interest on Rs. 2600 at  `6 2/3`% will be an exact

number of rupees ?


  1.    2
  2.    3
  3.    4
  4.    5
 Discuss Question
Answer: Option B. -> 3

S.I.  = Rs. `(2600 xx 20/3 xx 1/100 xx T) `

=Rs. `(520/3 xx T)`

which is an exact number of rupees when  T = 3


Question 349.

Peter invested an amount of Rs. 12,000 a the rate of 10 p.c.p.a.  simple interest and another amount at the rate of 20 p.c.p.a.  simple interest . The total interest earned at the end of one year on he total amount invested become  14 p.c.p.a Find the total amount invested .


  1.    Rs. 20,000
  2.    Rs. 22,000
  3.    Rs. 24,000
  4.    Rs. 25,000
  5.    None of these
 Discuss Question
Answer: Option A. -> Rs. 20,000

Let the second amount be Rs. `x`, Then ,

`((12000 xx 10 xx 1)/(100)) + ((x xx 20 xx 1)/(100))` = `((( 12000 + x) xx 14 xx 1)/(100))`

`hArr      12000 + 20x = 168000 + 14x`

`hArr       6x =  48000`

`hArr        x = 8000`

`:.`          Total investment = Rs. (12000 + 8000) = Rs. 20000


Question 350.

The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50 . The difference between their rates of interest is  :


  1.    0.1%
  2.    0.2%
  3.    0.3%
  4.    0.4%
  5.    None of these
 Discuss Question
Answer: Option C. -> 0.3%

`((1500 xx R_1 xx 3)/(100)) - ((1500 xx R_2 xx 3)/(100))` = 13.50

`hArr        4500(R_1 - R_2) =  1350`

`hArr    R_1 - R_2 =  1350/4500`

`hArr      R_1 - R_2 `= 0.3%.



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