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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 51 of 118 pages
Question 501.

The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6  months is Rs. 124.05. What  is the principal  sum ?


  1.    Rs. 6000
  2.    Rs. 8000
  3.    Rs. 19,000
  4.    Rs. 12,000
  5.    None of these
 Discuss Question
Answer: Option B. -> Rs. 8000

Let the sum be Rs, P, Then

`P[(1 + 5/100)^4 - 1] - (P xx 10 xx 2)/(100)` = 124.05

`rArr   P[(21/20)^4 - 1 - 1/5] = 124.05`

`rArr    P[194481/160000 - 6/5] = 12405/100`

`rArr   P[(194481 - 192000)/(160000)] = 12405/100`

`rArr    P = (12405/100 xx 160000/2481)` =  8000.


Question 502.

The compound interest on a sum of money for 2 years is Rs. 832 and he simple interest on he same sum for the same period is Rs. 800. The difference between the compound interest and the simple interest for 3 years will be :


  1.    Rs. 48
  2.    Rs. 66.56
  3.    RS. 98,.56
  4.    None of these
 Discuss Question
Answer: Option C. -> RS. 98,.56

Difference in C.I.  and S.I.  for 2 years = Rs. 32

S.I.  for one years = Rs. 400

`:.`    S.I.  on Rs. 400 for one year =   Rs.  32

So, Rate = ` ((100 xx 32)/(400 xx 1))`% =  8%

Hence , difference in C.I. and S.I. for  3rd year

= S.I. on Rs. 832 =  Rs. `((832 xx 8 xx 1)/(100))` = Rs. 66.56.

Total difference = Rs. (32 + 66.56) = Rs. 98.56



Question 503.

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The swum (in Rs.) is


  1.    Rs. 625
  2.    Rs. 630
  3.    Rs. 640
  4.    Rs.650
 Discuss Question
Answer: Option A. -> Rs. 625

Let the sum be Rs. `x `,  Then ,

C.I. = `[x (1 + 4/100)^2 - x]`

=`(676/625 x - x)` = ` 51/625 x`

S.I. = `((x xx 4 xx 2)/(100)) = (2x)/(25)`

`:.`    ` (51x)/(625) - (2x)/(25)` = 1.

or `x` = 625.



Question 504.

The difference between compound interest    and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96.

what is the rate of interest per annum ?


  1.    8%
  2.    10%
  3.    12%
  4.    cannot be determined
  5.    None of these
 Discuss Question
Answer: Option A. -> 8%

`[15000 xx (1 + R/100)^2 - 15000] - ((15000 xx R xx 2)/(1000))` = 96

`hArr      15000[(1 + R/100)^2 -1 - (2R)/(100)]`= 96

`hArr      15000[((100 + R)^2 - 10000 - 200R)/(10000)]` = 96

`hArr      R^2 = (96 xx 2)/(3)`

`hArr    R^2 = 64`

`hArr    R = 8`

`:.`     Rate = 8%.



Question 505.

There is 60% increase in an amount in 6 years at simple  interest . What will be the compound interest of Rs. 12,000 after  3 years at the same rate ?


  1.    Rs. 2160
  2.    Rs. 3120
  3.    Rs. 3972
  4.    Rs. 6240
  5.    None of these
 Discuss Question
Answer: Option C. -> Rs. 3972

Let P = Rs. 100,  Then  S.I.  Rs. 60   and T = 6 years

`:.`      R =` (100 xx 60)/(100 xx 6) = 10%p.a.`

Now, P = Rs. 12000,    T = 3 years and    R = 10% p.a.

`:.`    C.I. = Rs. `[12000 xx {(1 + 10/100)^3 - 1}]`

=Rs. `(12000 xx 331/1000)` = Rs. 3972.



Question 506.

The simple interest on a certain sum of money for 3 years a 8%  per annum is half the compound interest on  Rs. 4000 for 2 years at 10% per annum . The sum placed on simple interest is :


  1.    Rs. 1550
  2.    Rs. 1650
  3.    Rs. 1750
  4.    Rs. 2000
 Discuss Question
Answer: Option C. -> Rs. 1750

C.I. = Rs `[4000 xx (1 + 10/100)^2 - 4000]`

=Rs.`(4000xx 11/10 xx 11/10 - 4000)`

=Rs. 840.

`:.`     Sum  = Rs.`((420 xx100)/(- 3 xx 8))`

Rs. 1750.


Question 507.

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525 . The simple interest on the same sum for double  the time at half  the rate percent per annum is :


  1.    Rs. 400
  2.    Rs. 500
  3.    Rs. 600
  4.    Rs. 800
 Discuss Question
Answer: Option B. -> Rs. 500

Let the sum be Rs.  P , Then

`[P(1 + 10/100)^2 - P] = 525`

`hArr   P[(11/10)^2 - 1] = 525`

`hArr   P = ((525 xx 100)/(21))` =  2500

`:.`     Sum = Rs. 2500

So , S.I. = Rs. `((2500 xx 5 xx 4)/(100)) ` =  Rs. 500


Question 508.

If the compound interest on a sum for 2 years at `12 1/2`% per annum is Rs. 510, the simple interest on he same sum at the rate for the same period of time is


  1.    Rs. 400
  2.    Rs. 450
  3.    Rs. 460
  4.    Rs. 480
 Discuss Question
Answer: Option D. -> Rs. 480

Let the sum be Rs. P , Then

`[P(1 + (25)/(2 xx 100))^2 - P]` =  510

or `P[(9/8)^2 - 1] = 510`

or `p = ((510 xx 64)/(17)) = 1920.`

`:.`    Sum = Rs. 1920.

So  S.I. = Rs.`((1920 xx 25 xx 2)/(2 xx 100))` =  Rs. 480.


Question 509.

In how many years will a sum of Rs. 800 at 10% per annum compounded semi annually become Rs. 926.10 ?.


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

Let the time be n years, Then ,

800 x `(1 + 5/100)^2n = 926.10`

or `(1 + 5/100)^2n =  9261/8000`

or `(21/20)^2n = (21/20)^3`

or 2n = 3

or `n = 3/2`

or n = `1 1/2`

`:.`   n =  `1 1/2`years




Question 510.

The present worth of Rs. 169 due in 2 years at 4% per annum  compound interest is  :


  1.    Rs. 150.50
  2.    Rs. 154.75
  3.    Rs. 156.25
  4.    Rs. 158
 Discuss Question
Answer: Option C. -> Rs. 156.25

Present worth  = Rs. `[(169)/((1 + 4/100))^2]`


= Rs. `(169 xx 25/26 xx 25/26)`

= Rs.  156.25


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