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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 66 of 118 pages
Question 651. A principal of Rs.10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to :
  1.    Rs.11,320
  2.    Rs.12,000
  3.    Rs.12,500
  4.    Rs.12,320
 Discuss Question
Answer: Option D. -> Rs.12,320
Answer: (d)Using Rule 3,A = P$(1 + r_1/100)(1 + r_2/100)$= 10000$(1 + 10/100)(1 + 12/100)$= 10000 × $11/10 × 28/25$ = Rs.12320
Question 652. In what time Rs.8,000 will amount to Rs.9,261 at 10% per annum compound interest, when the interest is compounded half yearly ?
  1.    2 years
  2.    3$1/2$ years
  3.    2$1/2$ years
  4.    1$1/2$ years
 Discuss Question
Answer: Option D. -> 1$1/2$ years
Answer: (d)Using Rule 1 and 2,Interest is compounded half yearly.Rate of interest = 5%Time = $n/2$ years (let)or n half-yearsA = P$(1 + R/100)^T$9261 = 8000$(1 + 5/100)^n$$9261/8000 = (21/20)^n$$(21/20)^3 = (21/20)^n$n = 3 half years= $3/2$ years = $1{1}/2$ years
Question 653. The compound interest on Rs.2000 in 2 years if the rate of interest is 4% per annum for the first year and 3% per annum for the second year, will be
  1.    Rs.143.40
  2.    Rs.142.40
  3.    Rs.141.40
  4.    Rs.140.40
 Discuss Question
Answer: Option B. -> Rs.142.40
Answer: (b)Using Rule 3,Amount = $2000(1 + 4/100)(1 + 3/100)$= 2000 ×1.04 ×1.03 = Rs.2142.40CI = Rs.(2142.40 - 2000) = Rs.142.40
Question 654. The simple interest and compound interest (compounded annually) on a certain sum of money with a given rate for a period of 2 years are Rs.900 and Rs.954 respectively. The sum of money is
  1.    Rs.3750
  2.    Rs.3700
  3.    Rs.3850
  4.    Rs.3650
 Discuss Question
Answer: Option A. -> Rs.3750
Answer: (a)Difference of CI and SI for two years= Rs.(954 - 900) = Rs.54Sum= Difference in CI and SI × $(100/{Rate})^2$Rate = ${2 × \text"Difference" × 100}/\text"Simple interest"$= ${2 × 5400}/900 = 12%$Sum = 54 × $(100/12)^2$= $54 × 25/3 × 25/3$ = Rs.3750Using Rule 10,C.I. = Rs.954, S.I.=Rs.900, P=?C.I.= S.I.$(1 + R/200)$954 = 900$(1 + R/200)$$954/900 = 1 + R/200$$954/900 - 1 = R/200$${954 - 900}/900 = R/200$$54/9 = R/2$R = 12%Now S.I. = ${P × R × T}/100$900 = ${P × 12 × 2}/100$P = Rs.3750
Question 655. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended this money to another person at 10% compound interest per annum, and made a profit of Rs.26,410 in 4 years. The man borrowed
  1.    Rs.100000
  2.    Rs.200000
  3.    Rs.132050
  4.    Rs.150000
 Discuss Question
Answer: Option A. -> Rs.100000
Answer: (a)Let the principal be Rs.P. For 4 years,S.I. = $\text"Principal × Time × Rate"/100$= ${P × 4 × 5}/100$ = Rs.$P/5$C.I. = P$[(1 + R/100)^T - 1]$= P$[(1 + 10/100)^4 - 1]$= P$[(11/10)^4 - 1]$= P$(14641/10000 - 1) = {4641P}/10000$According to the question,${4641P}/10000 - P/5$ = 26410${4641P - 2000P}/10000$ = 2641${2641P}/10000$ = 2641P = Rs.10000
Question 656. If the compound interest on a certain sum for two years at 12% per annum is Rs.2,544, the simple interest on it at the same rate for 2 years will be
  1.    Rs.2,440
  2.    Rs.2,400
  3.    Rs.2,480
  4.    Rs.2,500
 Discuss Question
Answer: Option B. -> Rs.2,400
Answer: (b)C.I. = P$[(1 + R/100)^T - 1]$2544 = P$[(1 + 12/100)^2 - 1]$2544 = P$[(28/25)^2 - 1]$2544 = P$(784/625 - 1)$2544 = P$({784 - 625}/625)$2544 = ${P × 159}/625$P = ${2544 × 625}/159$ = Rs.10000S.I. = ${P × R × T}/100$= ${10000 × 2 × 12}/100$ = Rs.2400Using Rule 10,Here, C.I. = Rs.2544, R = 12%, S.I. = ?C.I. = S.I.$(1 + R/200)$2544 = S.I.$(1 + 12/200)$2544 = S.I.$(212/200)$S.I. = ${2544 × 200}/212$ = Rs.2400
Question 657. Compound interest on a sum of money for 2 years at 4 per cent per annum is Rs.2,448. Simple interest of the same sum of money at the same rate of interest for 2 years will be
  1.    Rs.2,250
  2.    Rs.2,500
  3.    Rs.2,360
  4.    Rs.2,400
 Discuss Question
Answer: Option D. -> Rs.2,400
Answer: (d)C.I.= P$(1 + r/100)^t$ - P2448 = P$[(1 + r/100)^t - 1]$or 2448 = P$[(1 + 4/100)^2 - 1]$2448 = P$[676/625 - 1]$2448 = P$[51/625]$P = ${2448 × 625}/51$ = Rs.30,000S.I. = ${30000 × 4 × 2}/100$ = Rs.2400Using Rule 10,Here, C.I. = Rs.2448, R = 4%, S.I. = ?C.I.= S.I.$(1 + R/200)$2448 = S.I.$(1 + 4/200)$2448 = S.I.$(1 + 1/50)$2448 = S.I.$(51/50)$S.I. = ${2448 × 50}/51$ = Rs.2400
Question 658. The compound interest on a certain sum of money for 2 years at 5% per annum is Rs.410. The simple interest on the same sum at the same rate and for the same time is
  1.    Rs.405
  2.    Rs.400
  3.    Rs.350
  4.    Rs.300
 Discuss Question
Answer: Option B. -> Rs.400
Answer: (b)Compound interest = P $[(1 + R/100)^T - 1]$410 = P$[(1 + 5/100)^2 - 1]$410 = P$[(1 + 1/20)^2 - 1]$410 = P$[(21/20)^2 - 1]$410 = P$(441/400 - 1)$410 = P$(41/400)$P = ${410 × 400}/41$ = Rs.4000S.I. = $\text"Principal × Time × Rate"/100$= ${4000 × 2 × 5}/100$ = Rs.400Using Rule 10,Here, C.I. = Rs.410, R = 5%, S.I. = ?C.I. = S.I.$(1 + R/200)$410 = S.I.$(1 + 5/200)$410 = S.I.$(205/200)$S.I. = ${410 × 200}/205$ = Rs.400
Question 659. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended 50% of this money to another person at 10% compound interest per annum and thereby the man made a profit of Rs.3,205 in 4 years. The man borrowed.
  1.    Rs.1,50,000
  2.    Rs.80,000
  3.    Rs.1,20,000
  4.    Rs.1,00,000
 Discuss Question
Answer: Option D. -> Rs.1,00,000
Answer: (d)Using Rule 1,Sum borrowed = Rs.xSimple interest after 4 years= ${x × 4 × 5}/100$ = Rs.$x/5$Amount lent of on compound interest = Rs.$x/2$C.I. = P$[(1 + R/100)^T - 1]$= $x/2[(1 + 10/100)^4 - 1]$= $x/2[(1.1)^4 - 1]$= $x/2$ (1.4641 - 1) = Rs.${0.4641x}/2$${0.4641x}/2 - x/5$ = 3205${2.3205x - 2x}/10$ = 32050.3205x = 32050$x = 32050/{0.3205}$ = Rs.100000
Question 660. A certain amount of money earns Rs.540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs.376.20 at the same rate of interest in 2 years, find the amount (in Rupees).
  1.    2100
  2.    1600
  3.    2000
  4.    1800
 Discuss Question
Answer: Option C. -> 2000
Answer: (c)S.I. for 2 years= $2/3$ × 540 = Rs.360C.I. - S.I.= 376.20 - 360 = Rs.16.20Rate of interest= ${16.20}/180$ × 100 = 9% per annumPrincipal = $\text"S.I. × 100"/\text"Time × Rate"$= ${180 × 100}/{1 × 9}$ = Rs.2000

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