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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 68 of 118 pages
Question 671. What is the difference between the compound interests 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
Answer: (a).Rs. 2.04
Question 672. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
  1.    2
  2.    2(1/2)
  3.    3
  4.    4
 Discuss Question
Answer: Option A. -> 2
Answer: (a).2
Question 673. 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 sum (in Rs.) is:
  1.    625
  2.    630
  3.    640
  4.    650
 Discuss Question
Answer: Option A. -> 625
Answer: (a).625
Question 674. The compound interest on a certain sum of money at 5% per annum for 2 years is Rs.246. The simple interest on the same sum for 3 years at 6% per annum is
  1.    Rs.432
  2.    Rs.435
  3.    Rs.430
  4.    Rs.450
 Discuss Question
Answer: Option A. -> Rs.432
Answer: (a)Using Rule 1,C.I. = P$[(1 + R/100)^T - 1]$246 = P$[(1 + 5/100)^2 - 1]$246 = P$[(21/20)^2 - 1]$246 = P$({441 - 400}/400)$246 = ${41P}/400$P = ${246 × 400}/41$ = Rs.2400SI = $\text"Principal × Time × Rate"/100$= ${2400 × 3 × 6}/100$ = Rs.432
Question 675. The compound interest on a certain sum of money for 2 years at 10% per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be
  1.    Rs.400
  2.    Rs.350
  3.    Rs.380
  4.    Rs.375
 Discuss Question
Answer: Option A. -> Rs.400
Answer: (a)If the principal be P thenC.I. = P$[(1 + R/100)^T - 1]$420 = P$[(1 + 10/100)^2 - 1]$420 = P$({121 - 100}/100)$420 = ${P × 21}/100$P = ${420 × 100}/21$ = Rs.2000S.I. = ${PRT}/100 = {2000 × 10 × 2}/100$ = Rs.400Using Rule 10,Here, C.I. = Rs.420, R = 10%, S.I. = ?C.I. = S.I.$(1 + R/200)$420 = S.I.$(1 + 10/200)$420 = S.I.$(210/200)$S.I. = ${420 × 200}/210$ = Rs.400
Question 676. What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
  1.    Rs. 9000.30
  2.    Rs. 9720
  3.    Rs. 10123.20
  4.    Rs. 10483.20
 Discuss Question
Answer: Option C. -> Rs. 10123.20
Answer: (c).Rs. 10123.20
Question 677. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
  1.    3
  2.    4
  3.    5
  4.    6
 Discuss Question
Answer: Option B. -> 4
Answer: (b).4
Question 678. Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?
  1.    Rs. 8600
  2.    Rs. 8620
  3.    Rs. 8820
  4.    None of these
 Discuss Question
Answer: Option C. -> Rs. 8820
Answer: (c).Rs. 8820
Question 679. 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%
Answer: (a).6%
Question 680. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
  1.    6.06%
  2.    6.07%
  3.    6.08%
  4.    6.09%
 Discuss Question
Answer: Option D. -> 6.09%
Answer: (d).6.09%

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