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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 41 of 118 pages
Question 401.

What annual instalment will discharge a debt of Rs. 1092 due in 3 years at 12 % simple interest ?


  1.    Rs. 325
  2.    Rs. 345
  3.    Rs. 350
  4.    Rs. 375
 Discuss Question
Answer: Option A. -> Rs. 325

Let each instalmnt be Rs.  `x` , then , `( x + (x xx 12 xx 1)/(100)) + (x + (x xx 12 xx 2)/(100)) + x ` = 1092

`hArr   (28x)/(25) + (31x)/(25) + x` = 1092

`hArr      (28x + 31x + 25x)` =  (1092 x 25)

`hArr     84 x` =  1092 x 25

`hArr     x = ((1092 xx 25)/(84)) ` =   325

`:.`      Each  instalment =  Rs. 325


Question 402.

A sum was put a simple interest at a certain rate for 3 years . Had it been put at 2%  higher rae , it would have fetched Rs. 360 more . Find the sum .


  1.    Rs. 5000
  2.    Rs. 5500
  3.    Rs. 6000
  4.    Rs. 6500
 Discuss Question
Answer: Option C. -> Rs. 6000

Let sum = P and original rate = R. Then ,` [{P xx (R + 2) xx 3)/(100)]  - [(P xx R xx 3)/(100)]` = 360

`hArr`  3PR + 6P - 3PR = 3600    

`hArr`  6P = 36000

`hArr`  P = 6000.

Hence , sum  = Rs. 6000



Question 403.

The simple interest  on a certain sum of money for  `2 1/2` years at 12 % per  annum is Rs. 40 less than the simple interest on the same sum for `3 1/2` years at 10% per annum.  Find the sum .


  1.    Rs. 800
  2.    Rs. 825
  3.    Rs. 850
  4.    Rs. 900
 Discuss Question
Answer: Option A. -> Rs. 800

Let he sum be Rs.  `x`, Then , `((x xx 10 xx 7)/(100 xx 2)) - ((x xx 12 xx 5)/(100 xx 2))` = 40.

`hArr  (7x)/(20) - (3x)/(10) = 40        hArr   x` = (40 x 20) =  800

Hence ,the sum is Rs. 800


Question 404.

The simple interest on a sum of money is `4/9` of the principal . Find the rate percent and time , if  both are numerically  equal .


  1.    Rate `6 2/3`% and Time 6 years 8 months
  2.    Rate `6 2/3`% and Time 6 years 9months
  3.    Rate `6 2/5`% and Time 5 years 8 months
  4.    Rate `7 2/3`% and Time 5 years 8 months
 Discuss Question
Answer: Option A. -> Rate `6 2/3`% and Time 6 years 8 months

Let sum = Rs. `x` , Then , S.I.  = Rs.  `(4x)/(9)`

Let rate = R%  and time = R years.

Then , `((x xx R xx R)/(100)) =  (4x)/(9)`

or  `R^2 = 400/9       or R =  20/3 = 6 2/3`

`:.`     Rate =` 6 2/3`% and  Time  =  `6 2/3` years  = 6 years 8 months.


Question 405.

At what rate percent per annum  will a sum of money double in  16  years ?


  1.    15%
  2.    16%
  3.    `6 1/4`%
  4.    17%
 Discuss Question
Answer: Option C. -> `6 1/4`%

Let principal  = P, Then  , S.I.  = P and T =  16 yers.

`:.`       Rate = `((100 xx P)/(P xx 16))`% =  `6 1/4`% p.a.



Question 406.

A certain sum of money amount to Rs. 1008 in 2 years and to Rs. 1164  in  `3 1/2` years.  Find the sum and the rate of interest .


  1.    13%
  2.    14%
  3.    15%
  4.    16%
 Discuss Question
Answer: Option A. -> 13%

S.I. for `1 1/2` years = Rs. (1164 - 1008)  = Rs. 156

S.I. for 2 years  = Rs. `(156 xx 2/3 xx 2)` = Rs. 208

`:.`        principal =  Rs. (1008 - 208) = Rs. 800

Now , p. = 800, T = 2  and  S.I. = 208

`:.`        Rate = `((100 xx 208)/(800 xx 2))`% = 13%


Question 407.

Adam borrowed some money  at the rate of 6%  p.a. for the first two years . at the rate of 9% P.a. for the next  three years , and at he rate of 14%  p.a. for the period beyond five years. If he pays a  total interest of Rs. 11,400 at the end of nine years , how much money did he borrow ?


  1.    Rs. 12000
  2.    Rs. 12500
  3.    Rs. 12750
  4.    Rs. 13000
 Discuss Question
Answer: Option A. -> Rs. 12000

Let the sum  borrowed be  `x` .then,

`((x xx 6 xx 2)/(100)) + ((x xx 9 xx 3)/(100)) + ((x xx 14 xx 4)/(100))` = 11400

`hArr       ((3x)/(25) + (27x)/(100) + (14x)/(25)) ` = 11400

`hArr   (95x)/(100) = 11400`

`hArr`   x = `((11400 xx 100)/(95))` = 12000

Hence , sum borrowed  = Rs. 12,000



Question 408.

A sum of Rs. 800 amounts to Rs. 920 in  3 years at simple interest . If the interest rate  is increased by  3% , it would amount to  how much ?


  1.    Rs. 892
  2.    Rs. 990
  3.    Rs. 992
  4.    Rs. 995
 Discuss Question
Answer: Option C. -> Rs. 992

S.I.  = Rs. (920 - 800)  =  Rs. 120    ,P. =  Rs. 800, T = 3 years

`:.`        R = `((100 xx 120)/(800 xx 3))`%  =  5%

New rate = (5 + 3)% =  8%

New  S.I.  =  Rs.` ((800 xx 8 xx 3)/(100))` = Rs. 192

`:.`        New amount = Rs. (800 + 192) = Rs.  992.



Question 409.

 A sum at simple interest at `13 1/2`% per annum  amounts to  Rs. 2502.50 after 4 years . Find he sum.


  1.    Rs. 1500
  2.    Rs. 1550
  3.    Rs. 1600
  4.    Rs. 1625
 Discuss Question
Answer: Option D. -> Rs. 1625

Let sum be Rs. `x`  then ,S.I. = Rs. `(x 27/2 xx 4 xx 1/100)` = Rs.  `(27x)/(50) `

`:.`      Amount = Rs. `(x + (27x)/(50)) = Rs.  (77x)/(50)`

`:.`         `(77x)/(50)` = 2502.50          `hArr     x = (2502.50 xx 50)/(77) ` = 1625

Hence , sum =  Rs. 1625.


Question 410.

Find the simple interest  on Rs.  3000 at `6 1/4`%  per annum for the period from 4th  Feb. 2005 to 18th April 2005


  1.    Rs. 36
  2.    Rs. 37
  3.    Rs. 37.50
  4.    Rs. 38
 Discuss Question
Answer: Option C. -> Rs. 37.50

Time = (24 + 31 + 18) days = 73 days  = `73/365` year =  `1/5` year.

P = Rs. 3000  and  R = `6 1/4`%  p.a. =  `25/4` % p.a.

`:.`     S.I. =  Rs. `(3000 xx 25/4 xx 1/5 xx 1/100)` =  Rs. 37.50.



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