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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 92 of 118 pages
Question 911. Rs. 800 at 5 % Per annum compound interest will amount to Rs. 882 in?
  1.    1 Year
  2.    2 years
  3.    3 Years
  4.    4 Years
 Discuss Question
Answer: Option B. -> 2 years


Time be t years
882 = 800 (1 +5/100) t 
=> 882/800 =(21/20) t 
 (21/20) 2 = (21/20) t 
=> t = 2
Therefore, 
Time = 2 years


Question 912. If Rs. 7500 are borrowed at C. I at the rate of 4 % per annum then after 2 years, the amount to be paid is?
  1.    Rs. 8082
  2.    Rs. 7800
  3.    Rs. 8100
  4.    Rs. 8112
 Discuss Question
Answer: Option D. -> Rs. 8112


Amount = Rs. [7500 (1 +4/100)2] 
 = Rs. [7500 × 26/25 × 26/25] = Rs.8112


Question 913. Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is?
  1.    Rs. 81.60
  2.    Rs. 160
  3.    Rs. 1081.60
  4.    None of these
 Discuss Question
Answer: Option A. -> Rs. 81.60


Principle = Rs.(8000/8) = Rs. 1000 
Therefore, C. I = Rs. [{ 1000 × (1 +4/100)2 “ 1000}] 
= Rs. 81.60


Question 914. The difference between the compound interest and the simple interest on a certain sum at 5 % per annum for 2 years is Rs. 1.50. The sum is?
  1.    Rs.600
  2.    Rs.500
  3.    Rs.400
  4.    Rs.300
 Discuss Question
Answer: Option A. -> Rs.600

Sum be Rs.100

S.I =
Rs.(1000/100) =Rs.10


C.I = Rs.[{100 — (1 +5/100) 2} - 100] =Rs.41/4 
Difference C.I amd S. I = Rs.(41/4 - 10) =Rs.25 
25 : 1.50 : : 100 : x 
Therefore x = ((1.50 —100)/25) = Rs.600
Question 915. What is the principle amount which earns Rs.132 as compound interest for the second year at 10 % per annum?
  1.    Rs. 1000
  2.    Rs. 1200
  3.    Rs. 1320
  4.    None of these
 Discuss Question
Answer: Option B. -> Rs. 1200

X be the principle at the end of the first year
 What Is The Principle Amount Which Earns Rs.132 As Compound...

=> x =1320


Y be the original Principle

 What Is The Principle Amount Which Earns Rs.132 As Compound...

=> Y =1200


Question 916. 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.350
  2.    Rs.375
  3.    Rs. 380
  4.    Rs. 400
 Discuss Question
Answer: Option D. -> Rs. 400


The principle is P. 
P(1 +10/100) 2 “ P = 420 
=> P = Rs.2000 
S.I = Rs.(4000/100) = Rs.400


Question 917. The difference between simple interest and compound interest at the same rate for Rs.5000 for 2 years is Rs. 72. The rate of interest is?
  1.    10 %
  2.    12 %
  3.    6 %
  4.    8 %
 Discuss Question
Answer: Option B. -> 12 %


5000 × (1 +R/100) 2 “ 5000 “(10000R/100)= 72 
=> 5000 [(1 + R/100) 2 “ 1 “ R/50] = 72 
=> 1 + R2/100 + 2R/100 “ 1 “ R/50 = 72/5000 
=> R2 = (72/5000 × 10000) = 144 or R =12%


Question 918. A sum of money amounts to Rs. 10648 in 3years and Rs. 9680 in 2 years. The rate of interest is?
  1.    5 %
  2.    10 %
  3.    15 %
  4.    20 %
 Discuss Question
Answer: Option B. -> 10 %


P be the principle and R % Per annum be the rate. 
P(1 + R/100) 3 = 10648 - (i) 
P(1 + R/100) 2 = 9680 - (ii) 
 By dividing (i) and (ii) 
(1 +R/100) = 10648/9680
Or 
R/100 = 968/9680 = 1/10 or 
R = 10 %


Question 919. A sum of money becomes Rs.6690 after three years and Rs.10.035 after six years on compound interest. The sum is?
  1.    Rs.4400
  2.    Rs.4445
  3.    Rs.4460
  4.    Rs.4520
 Discuss Question
Answer: Option C. -> Rs.4460


Sum be P 
P(1 + R/100) 3 = 6690 - (i) 
 P(1 + R/100) 2 = 10, 035 - (ii) 
 By dividing (i) and (ii) 
(1 + R/100) 3 = 10035/6690 = 3/2 
Therefore, P = (6690 x 2/3) = Rs. 4460


Question 920. A sum amounts to Rs. 2916 in 2 years and to Rs.3149.28 in 3 years at compound Interest. The sum is?
  1.    Rs.1500
  2.    Rs.2000
  3.    Rs.2500
  4.    Rs.3000
 Discuss Question
Answer: Option C. -> Rs.2500


P be the principle and R % per annum be rate 
P(1 + R/100) 3 = 3149.28 - (i) 
P(1 + R/100) 2 = 2916 - (ii) 
 By dividing (i) and (ii) 
(1 + R/100) = 3149.28/2916 R/100 = 233.28/2916 
or R =233.28/2916 x 100 = 8 % 
P(1 +8/100) 2 = 2916 or 
P × 27/25 × 27/25 = 2916 
Or = 1822500/729= Rs.2500


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