Menu
Popular Courses
Sail E0 20253 months
Fast Math Tricks165 videos
Quantitative Aptitude645 Videos
Reasoning Aptitude161 Videos
CLASS 8 MATHS(CBSE)417 Videos
CLASS 9 MATHS(CBSE)40 hours, 647 questions
Check All Courses
Search

Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)

Total Questions : 1171 | Page 52 of 118 pages
Question 511.

The principal that amount to Rs. 4913 in 3 years at `6 1.4`% per annum  compound interest compounded annually is :


  1.    Rs. 3096
  2.    Rs. 4076
  3.    Rs. 4085
  4.    Rs. 4096
 Discuss Question
Answer: Option D. -> Rs. 4096

Principal  = Rs.`[(4913)/(1 + (25)/(4 xx 100))^3]`

=Rs. `(4913 xx 16/17 xx 16/17 xx 16/17)`

= Rs. 4096.



Question 512.

At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in  2 years ?


  1.    6%
  2.    6.5%
  3.    7%
  4.    7.5%
 Discuss Question
Answer: Option A. -> 6%

Let the rate be  R%  p.a.  Then ,

`1200 xx (1 + R/100)^2 = 1348.32`

`hArr     (1 + R/100)^2 =  134832/120000` =  `11236/10000`

`:.`     `(1 + R/100)^2 =  (106/100)^2`

or `1 + R/100 =  106/100`

or  R = 6%



Question 513.

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years ) is :


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

Amount = Rs. (30000 + 4347 ) = Rs. 34347.

Let the time be n years . Then .

`30000(1 + 7/100)^n =   34347`

`hArr     (107/100)^n =  34347/30000`

`hArr      (107/100)^n =  11449/10000`

`hArr      (107/100)^n  =  (107/100)^2`

`:.`    n = 2 years.


Question 514.

The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is


  1.    Rs. 2.50
  2.    Rs. 3
  3.    Rs. 3.75
  4.    Rs. 4
  5.    None of these
 Discuss Question
Answer: Option B. -> Rs. 3

S.I.  = Rs. `((1200 xx 10 xx 1)/(100))` = Rs. 120

C.I. = Rs. `[ 1200 xx (1 xx 5/100)^2 - 1200 ]` = Rs. 123

`:.`      Difference  = Rs. (123 - 120) = Rs. 3


Question 515.

What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years ?


  1.    Rs. 31
  2.    Rs. 32.10
  3.    Rs. 40.40
  4.    Rs. 64.10
  5.    None of these
 Discuss Question
Answer: Option D. -> Rs. 64.10

S.I.  = Rs.` ((1000 xx 10 xx 4)/(100))` =  Rs. 400

C.I.    =  Rs. `[1000 xx (1 + 10/100)^4 - 1000]` =   Rs.  464.10

`:.`      Difference = Rs. (464.10 - 400) =  Rs. 64.10


Question 516.

If the simple interest on  a sum of money for 2 years at 5% per annum tin Rs. 50, what is the compound interest on the same sum  at the same rate and for the same time  ?


  1.    Rs. 51.25
  2.    Rs. 52
  3.    Rs. 54.25
  4.    Rs. 60
 Discuss Question
Answer: Option A. -> Rs. 51.25

Sum = Rs. `((50 xx 100)/(2 xx 5))` = 500

Amount  = Rs. `[500 xx (1 + 5/100)^2]`

= Rs. `(500 xx 21/20 xx 21/20)` = Rs. 551.25

`:.`     C.I.  = Rs. (551.25 - 500) =  Rs. 51.25


Question 517.

Find the compound interest on Rs. 15,625 for 9 months at 16% per annum  compounded quarterly .


  1.    Rs. 1851
  2.    Rs. 1941
  3.    Rs. 1951
  4.    Rs. 1961
 Discuss Question
Answer: Option C. -> Rs. 1951

 P = Rs. 15625,    n = 9 months = 3 quarters ,.     R=  16%  p.a.  = 4% per quarter

Amount = Rs. `[15625 xx (1 + 4/100)^3]`

             = Rs.` (15625 xx 26/25 xx 26/25 xx 26/25) `

           = Rs. 17576

`:.`     C.I. = Rs(17576 -  15625)

         = Rs. 1951.



Question 518.

What is he difference between the compound interest on Rs. 5000 for `1 1/2` years at 4% per annum compounded yearly and half yearly ?


  1.    Rs. 2.04
  2.    Rs. 3.06
  3.    Rs. 4.80
  4.    Rs. 8.30
 Discuss Question
Answer: Option A. -> Rs. 2.04

C.I.  when interest is compounded yearly

        Rs  =     . `[5000 xx ( 1 + 4/100) xx (1 + (1/2 xx 4)/(100))]`

       Rs. = `(5000 xx 26/25 xx 51/50)`    = Rs. 5304

C.I. when interest is compounded half - yearly

     = Rs.` [5000 xx (1 + 2/100)^3]`

     = Rs . `(5000 xx 51/50 xx 51/50 xx 51/50)`    = Rs. 5306.04

`:.`      Difference = Rs. (5306.04 - 5304 ) =  Rs. 2.04


Question 519.

A bank offers 5% compound interest calculated on half -yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year the amount he would have gained by way of interest is :


  1.    Rs. 120
  2.    Rs. 121
  3.    Rs. 122
  4.    Rs. 123
 Discuss Question
Answer: Option B. -> Rs. 121

Amount = Rs. `[1600 xx (1 + (5)/(2 xx 100)^2 + 1600(1 + (5)/(2 xx 100)]`

             = Rs. `[1600 xx 41/40 xx 41/40 + 1600 xx 41/40]`

              = Rs. `[1600 xx 41/40(41/40 +1)]`

             = Rs. `((1600 xx 41 xx 81)/(40 xx 40))`

            = Rs.  3321.

`:.`      C.I.  = Rs. (3321 - 3200) =  Rs. 121.


Question 520.

Sam invested Rs. 15,000 @ 10% per annum for one year. If the interest is compounded half-yearly , then the amount received by Sam at the end of the year will be :


  1.    Rs. 16,500
  2.    Rs. 16,525.50
  3.    Rs. 16,537.50
  4.    Rs. 18,150
  5.    None of these
 Discuss Question
Answer: Option C. -> Rs. 16,537.50

P = Rs. 15000      R = 10%     p.a. = 5% per half year ,       T = 1 year    = 2 half year

`:.`      Amount = Rs.` [ 15000 xx (1 + 5/100)^2]`

       = Rs. `(15000 xx 21/20 xx 21/20)` =  Rs. 16537.50


Share this page with your friends!

Share this page with your friends!

Latest Videos
Chapter 1 - GLOBAL STEEL SCENARIO & INDI Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)
Direction Sense Test Part 1 Reasoning (Hindi)
Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE
Cube & Cuboid Part 1 Reasoning (Hindi)
Data Interpretation (DI) Basic Concept Reasoning (Hindi)
Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)
Sail E0 free webinar Webinars
Real Numbers Part 7 Class 10 Maths
Real Numbers Part 1 Class 10 Maths
Polynomials Part 1 Class 10 Maths

Latest Test Papers

Chapter 3.1 : Overview of Finance & Acco Chapter 3 : Finance & Accounts SAIL E0 - GFM 2024
Chapter 2.1 : Overview Chapter 2 : Materials Management SAIL E0 - GFM 2024
Chapter 1.1 : Personnel Functions- An ov Chapter 1 : Personnel Management SAIL E0 - GFM 2024
GPOE / GPA Combined 1 Free CBT Mock Test SAIL E0 2024
CBT Mixed Test 1 GPOE/GPA SAIL E0 2024