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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 38 of 118 pages
Question 371.

A certain sum of money a simple interest amounts to Rs. 1012 in `2 1/2` years and to Rs. 1067.20 in 4 years. The rate of interest per annum is :


  1.    2.5%
  2.    3%
  3.    4%
  4.    5%
 Discuss Question
Answer: Option C. -> 4%

S.I. for `1 1/2` years =  Rs. (1067.20 - 1012) = Rs. 55.20

S.I. for `2 1/2` years  = Rs. `(55.20 xx 2/3 xx 5/2)` = Rs. 92

`:.`      principal  = Rs.  (1012 - 92)  = Rs. 920

Hence , rate =  `((100 xx 92 xx 2)/(920 xx 5))` = 4%


Question 372.

In how many  years will a sum of money double  it self a 12% per annum ?


  1.    6 years 9 monhs
  2.    7 years 6 monhs
  3.    8 years 3 monhs
  4.    8 years 4 monhs
 Discuss Question
Answer: Option D. -> 8 years 4 monhs

Let sum  = `x` , Then , S.I.  = `x`

`:.`    Time  = `((100 xx S.I.)/(P xx R))`

=`((100 xx x)/(x xx 12))` years =  `8 1/3` years =  8 years 4 months.


Question 373.

A sum of money amount 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


  1.    5 %
  2.    8%
  3.    12%
  4.    15%
 Discuss Question
Answer: Option C. -> 12%

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

S.I. for  5 years = Rs. `(2205/3 xx 5)` = Rs. 3675.

`:.`    principal  = Rs. (9800 - 3675) = Rs. 6125.

Hence ,rate  = `((100 xx 3675)/(6125 xx 5))`% =   12%



Question 374.

A sum of money lent out at simple interest amount to Rs. 720 after 2 years  and to Rs. 1020 after a further period of 5 years . The sum is :


  1.    Rs. 500
  2.    Rs. 600
  3.    Rs. 700
  4.    Rs. 710
 Discuss Question
Answer: Option B. -> Rs. 600

S.I. for 5 years = Rs. (1020 - 720) = Rs. 300.

S.I. for 2 years = Rs. `(300/5 xx 2)` = Rs. 120

`:.`       principal  = Rs. (720 - 120) = Rs. 600.


Question 375.

A sum of money a simple interest amount to Rs. 815 in  3 years and to Rs. 854 in 4 years . The sum is :


  1.    Rs. 650
  2.    Rs. 690
  3.    Rs.698
  4.    Rs. 700
 Discuss Question
Answer: Option C. -> Rs.698

S.I. for 1 year = Rs.  ( 854 - 815) = Rs. 39

S.I. for 3 years = Rs. (39 x 3) = Rs. 117

`:.`      principal  = Rs. (815 - 117) = 698.


Question 376.

An automobile financier claims to be lending money at simple interest , but he includes the interest  every six months for calculating the principal .If he is charging as interest of 10% , the effective  rate of interest becomes :


  1.    10 %
  2.    10.25%
  3.    10.5%
  4.    None of these
 Discuss Question
Answer: Option B. -> 10.25%

Let the sum be Rs. 100 , Then

S.I.  for first 6 months = Rs.`((100 xx 10 xx 1)/(100 xx 2))`  = Rs . 5.

S.I. for last 6 months = Rs.  `((105 xx 10 xx 1)/(100 xx 2))` = Rs. 5.25

So, amount at the end of 1 year =  Rs. (100 + 5 + 5.25) = Rs. 110.25

`:.`      Effective  rate  = (110.25 - 100) = 10.25%


Question 377.

The simple interest on Rs. 10 for 4 months at the rate of 3 paise per rupee per month is :


  1.    Rs. 1.20
  2.    Rs. 1.60
  3.    Rs. 2.40
  4.    Rs. 3.60
 Discuss Question
Answer: Option A. -> Rs. 1.20

S.I. = Rs. `(10 xx 3/100 xx 4)` = Rs. 1.20.


Question 378.

The simple interest on a sum of money will be Rs. 600 after 10 years . If the principal is trebled after 5 years. what will  be the total  interest at the end of he tenth year ?


  1.    Rs. 600
  2.    Rs. 900
  3.    Rs. 1200
  4.    Rs. 1500
  5.    Data inadequate
 Discuss Question
Answer: Option C. -> Rs. 1200

Let the sum be Rs. `x` Now , S.I. = Rs. 600,  T = 10 years.

Rate = `((100 xx 600)/(x xx 10))% =  (6000/x)`%

S.I. for first 5 years = Rs  `((x xx 5 xx 6000)/(x xx 100))`  = Rs. 300

S.I. for last 5 years = Rs. `(3x xx 5 xx (6000)/(x xx 100))` = Rs. 900

`:.`      Total interest = Rs.  (900 + 300) = Rs. 1200



Question 379.

Nitin borrowed some money a the rate  of 6% p.a.  for the first three years, 9% ,p.a.for the next five years and 13% p.a. for the  period beyond eight years . If  the total interest paid by him at the end of eleven  years is Rs. 8160. how much money did he borrow ?


  1.    Rs. 8000
  2.    Rs. 10,000
  3.    Rs. 12,000
  4.    Data inadequate
  5.    None of these
 Discuss Question
Answer: Option A. -> Rs. 8000

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

`((x xx 6 xx 3)/(100)) + ((x xx 9 xx 5)/(100)) + ((x xx 13 xx 3)/(100))`  = 8160

`hArr       18x + 45x + 39x = (8160  xx 100)`

`hArr        102x =  816000`

`hArr        x =  8000`



Question 380.

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


  1.    1 : 3
  2.    1 : 4
  3.    2 : 3
  4.    Data inadequae
  5.    None of these
 Discuss Question
Answer: Option C. -> 2 : 3

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

`:.`         Required ratio =` [((P xx R xx 6)/(100))/((P xx R xx 9)/(100))]`

     = `(6PR)/(9PR) =  6/9` = 2 : 3


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