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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)

Total Questions : 1171 | Page 8 of 118 pages
Question 71.

A sum is invested at compounded interest payable annually. The interest in two successive years was Rs. 500 and Rs. 540. The sum is

  1.    3750
  2.    5000
  3.    5600
  4.    6250
  5.    None of these
 Discuss Question
Answer: Option D. -> 6250
 -   S.I. on Rs. 500 for 1 year = 540 - 500     = Rs. 40           Rate =   100 x 40    = 8%     500 x 1       and   Sum = Rs.   100 x 500       8 x 1       = Rs. 6250
Question 72.

Vivek borrowed a certain sum from Anil at a certain rate of simple interest for 2 years. He lent this sum to Ram at the same rate of interest compounded annually for the same period. At the end of two years, he received Rs. 4200 as compound interest but paid Rs. 4000 only as simple interest. Find the rate of interest.

  1.    10%
  2.    15%
  3.    20%
  4.    35%
  5.    None of these
 Discuss Question
Answer: Option A. -> 10%
 -     Suppose the sum borrowed = Rs x       Rate of interest = R%       Time = 2 years        
Question 73.

If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in:

  1.    8
  2.    12
  3.    24
  4.    36
  5.    None of these
 Discuss Question
Answer: Option D. -> 36
 -  If a sum becomes x times in y years at CI then it will be (x)n times in ny years. 
Question 74.

On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is:

  1.    10
  2.    12
  3.    15
  4.    18
  5.    None of these
 Discuss Question
Answer: Option D. -> 18
 -   Difference in C.I. ans S.I. for 2 years = Rs. (696.30 - 660) = Rs. 36.30   S.I. for one year = Rs. 330.      S.I. on Rs. 330 for 1 year = Rs. 36.30      Rate =   100 x 36.30 330 x 1  
Question 75.

On a certain sum of money, the simple interest for 2 years is Rs. 200 at the rate of 7% per annum. Find the difference in C.I. and S.I.

  1.    7
  2.    9
  3.    11
  4.    13
  5.    None of these
 Discuss Question
Answer: Option A. -> 7
 -     C.I.-  S.I.= R x S.I. = 7 x200     200 200         [Here, R = 7 and S.I. = 200]       Rs. 7
Question 76.

A sum amounts to Rs. 1352 in 2 years at 4% compound interest. The sum is

  1.    1200
  2.    1250
  3.    1260
  4.    1300
  5.    None of these
 Discuss Question
Answer: Option B. -> 1250
 -   Let the sum be P. Then,   1352 = P  ( 1+ 4 )  2   100           1352 = P x 26 x 26     25 25           P =  1352 x 25 x 25  = 1250     26 x 26          Principal = Rs. 1250  
Question 77.

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
  5.    None of these
 Discuss Question
Answer: Option B. -> Rs 121
 -     Amount = Rs. [ 1600 x ( 1 + 5 ) 2 + 1600 x ( 1 + 5 ) ] 2 x 100 2 x 100   = Rs. [ 1600 x 41 x 41 + 1600 x 41 ] 40 40 40   = Rs.
[ 1600 x 
41
 ( 
41 + 1 
)
] 40 40   = Rs.

1600 x 41 x 81
 ] 40 x 40  
= Rs. 3321.
 C.I. = Rs. ( 3321 - 3200 ) = Rs. 121
Question 78.

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
  5.    None of these
 Discuss Question
Answer: Option A. -> 625
 -  Let the sum be Rs. x. Then,
C.I. = [  x  ( 1 + 4  ) 2  -  x  ]  =  (  676  x - x  )  =  51  x. 100 625 625  
Question 79.

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 x 60   = 10% p.a. 100 x 6   Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
 C.I. = Rs. [ 12000 x { ( 1 + 10 ) 3 - 1 } ] 100   = Rs.   12000 x
331   1000  
= 3972.
Question 80.

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
  5.    None of these
 Discuss Question
Answer: Option A. -> 2
 -    Amount = Rs. (30000 + 4347) = Rs. 34347.
 
  Let the time be n years.
 Then, 30000  (  1 + 7  ) n   = 34347 100  
 (    107   ) n   =   34347   =   11449   =   (  107  ) 2 100 30000 10000 100  
  n = 2 years.

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