Simple & Compound Interest(Quantitative Aptitude > Interest ) Questions and answers for exam Preparation

Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)

Total Questions : 1171 | Page 94 of 118 pages

Question 931. The difference between compound and simple interest on a certain sum of money for 3 years at 6 2/3% p.a is Rs.184. Find the sum?

Rs.12000
Rs.14200
Rs.17520
Rs.13500

Discuss Question

Answer: Option D. -> Rs.13500

P = (184*10⁶) / [6 2/3 * 6 2/3 *(300*6 2/3)]

P = 13500

Question 932. A sum of money is put out at compound interest for 2 years at 20%. It would fetch Rs.482 more if the interest were payable half-yearly, then it were pay able yearly. Find the sum.

Rs.4000
Rs.1000
Rs.1250
Rs.2000

Discuss Question

Answer: Option D. -> Rs.2000

P(11/10)⁴ - P(6/5)² = 482

P = 2000

Question 933. Find the sum The difference between the compound and S.I. on a certain sum of money for 2 years at 10% per annum is Rs.15of money?

1500
1800
2100
1950

Discuss Question

Answer: Option A. -> 1500

P = 15(100/10)²=>
P = 1500

Question 934. The difference between the compound interest compounded annually and simple interest for 2 years at 20% per annum is Rs.144. Find the principal?

Rs.3000
Rs.3300
Rs.3600
Rs.3900

Discuss Question

Answer: Option C. -> Rs.3600

P =
144(100/5)² => P
= 3600

Question 935. What sum of money put at C.I amounts in 2 years to Rs.8820 and in 3 years to Rs.9261?

Rs.8000
Rs.8400
Rs.7500
None

Discuss Question

Answer: Option A. -> Rs.8000

8820 ---- 441

100 ---- ? =>
5%

x *105/100 * 105/100 = 8820

x*1.1025=8820

x=8820/1.1025 => 8000

Question 936. What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years, compounding done annually?

Rs.9630
Rs.9680
Rs.9610
Rs.9650
None of these

Discuss Question

Answer: Option E. -> None of these

A= P{1 + R/100}ⁿ => 8000{1 + 10/100}² = Rs.9680

Question 937. The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.

Rs.18,828.80
Rs.19,828.80
Rs.18,028.80
Rs.17,828.80
None of these

Discuss Question

Answer: Option B. -> Rs.19,828.80

Let the sum be Rs.P P{ [ 1 + 8/100]² - 1 } = 2828.80 P(8/100)(2 + 8/100) = 2828.80 [a² - b² = (a - b) ( a + b)]
P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000
Principal + Interest = Rs. 19828.80

Question 938. Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years. (Round off your answer to nearest integer)

Rs.4273
Rs.4613
Rs.4064
Rs.4266
None of these

Discuss Question

Answer: Option D. -> Rs.4266

CI = 14800{ [ 1 + 13.5/100]² - 1 } = 14800 { [1 + 27/200]² - 1 = 14800 { 2 + 27/200}{27/200} = (74)[2 + 27/200](27)
= 1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266

Question 939. Raj invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?

8% p.a.
6% p.a.
4% p.a.
5% p.a.
None of these

Discuss Question

Answer: Option D. -> 5% p.a.

Let the rate of interest be R% p.a. 17400[1 + R/100]² = 17400 + 1783.50 [1 + R/100]² = (17400 + 1783.50)/17400 = 1 + 1025/10000 = 1 + 41/400 = 441/400 = [21/20]² [1 + R/100] = 21/20 R/100 = 1/20 Therefore R = 5

Question 940. Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?