Menu
Popular Courses
Search

Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 96 of 118 pages
Question 951.


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%

Let the rate be R% p.a.



Then, 1200 x
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
1 +
R
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
2
= 1348.32
100



At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
1 +
R
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
2
=
134832
=
11236
100
120000
10000



At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
1 +
R
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
2
=
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
106
At What Rate Of Compound Interest Per Annum Will A Sum Of Rs...
2
100
100



At What Rate Of Compound Interest Per Annum Will A Sum Of Rs... 1 +
R
=
106
100
100


At What Rate Of Compound Interest Per Annum Will A Sum Of Rs... R = 6%


Question 952.


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


P
The Least Number Of Complete Years In Which A Sum Of Money P...
1 +
20
The Least Number Of Complete Years In Which A Sum Of Money P...
n
> 2P
    The Least Number Of Complete Years In Which A Sum Of Money P...    
The Least Number Of Complete Years In Which A Sum Of Money P...
6
The Least Number Of Complete Years In Which A Sum Of Money P...
n
> 2.
100
5



Now,
The Least Number Of Complete Years In Which A Sum Of Money P...
6
x
6
x
6
x
6
The Least Number Of Complete Years In Which A Sum Of Money P...
> 2.
5
5
5
5


So, n = 4 years.


Question 953.


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%


Amount of Rs. 100 for 1 year
when compounded half-yearly
The Effective Annual Rate Of Interest Corresponding To A Nom...
= Rs.
The Effective Annual Rate Of Interest Corresponding To A Nom...
100 x
The Effective Annual Rate Of Interest Corresponding To A Nom...
1 +
3
The Effective Annual Rate Of Interest Corresponding To A Nom...
2
The Effective Annual Rate Of Interest Corresponding To A Nom...
= Rs. 106.09
100


The Effective Annual Rate Of Interest Corresponding To A Nom... Effective rate = (106.09 - 100)% = 6.09%


Question 954.

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

Amount
= Rs.
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
8000 x
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
1 +
5
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
2
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
100
= Rs.
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
8000 x
21
x
21
Albert Invested An Amount Of Rs. 8000 In A Fixed Deposit Sch...
20
20
= Rs. 8820.
Question 955.


Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

  1.    Rs. 1550
  2.    Rs. 1650
  3.    Rs. 1750
  4.    Rs. 2000
 Discuss Question
Answer: Option C. -> Rs. 1750


C.I.
= Rs.
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
4000 x
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
1 +
10
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
2
- 4000
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
100
= Rs.
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
4000 x
11
x
11
- 4000
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
10
10
= Rs. 840.



Simple Interest On A Certain Sum Of Money For 3 Years At 8% ... Sum = Rs.
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
420 x 100
Simple Interest On A Certain Sum Of Money For 3 Years At 8% ...
= Rs. 1750.
3 x 8


Question 956.


If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

  1.    Rs. 51.25
  2.    Rs. 52
  3.    Rs. 54.25
  4.    Rs. 60
 Discuss Question
Answer: Option A. -> Rs. 51.25


Sum = Rs.
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
50 x 100
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
= Rs. 500.
2 x 5



Amount
= Rs.
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
500 x
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
1 +
5
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
2
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
100
= Rs.
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
500 x
21
x
21
If The Simple Interest On A Sum Of Money For 2 Years At 5% P...
20
20
= Rs. 551.25


If The Simple Interest On A Sum Of Money For 2 Years At 5% P... C.I. = Rs. (551.25 - 500) = Rs. 51.25


Question 957.


The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:

  1.    Rs. 400
  2.    Rs. 500
  3.    Rs. 600
  4.    Rs. 800
 Discuss Question
Answer: Option B. -> Rs. 500

Let the sum be Rs. P.



Then,
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
P
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
1 +
10
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
2
- P
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
= 525
100



The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
P
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
11
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
2
- 1
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
= 525
10



The Compound Interest On A Certain Sum For 2 Years At 10% Pe... P =
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
525 x 100
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
= 2500.
21


The Compound Interest On A Certain Sum For 2 Years At 10% Pe... Sum = Rs . 2500.



So, S.I. = Rs.
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
2500 x 5 x 4
The Compound Interest On A Certain Sum For 2 Years At 10% Pe...
= Rs. 500
100


Question 958.


The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

  1.    Rs. 2.50
  2.    Rs. 3
  3.    Rs. 3.75
  4.    Rs. 4
  5.    None of these
 Discuss Question
Answer: Option B. -> Rs. 3


S.I. = Rs
The Difference Between Simple Interest And Compound On Rs. 1...
1200 x 10 x 1
The Difference Between Simple Interest And Compound On Rs. 1...
= Rs. 120.
100



C.I. = Rs.
The Difference Between Simple Interest And Compound On Rs. 1...
1200 x
The Difference Between Simple Interest And Compound On Rs. 1...
1 +
5
The Difference Between Simple Interest And Compound On Rs. 1...
2
- 1200
The Difference Between Simple Interest And Compound On Rs. 1...
= Rs. 123.
100


The Difference Between Simple Interest And Compound On Rs. 1... Difference = Rs. (123 - 120) = Rs. 3.


Question 959.


The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

  1.    8
  2.    10
  3.    12
  4.    Cannot be determined
  5.    None of these
 Discuss Question
Answer: Option A. -> 8


The Difference Between Compound Interest And Simple Interest...
15000 x
The Difference Between Compound Interest And Simple Interest...
1 +
R
The Difference Between Compound Interest And Simple Interest...
2
- 15000
The Difference Between Compound Interest And Simple Interest...
-
The Difference Between Compound Interest And Simple Interest...
15000 x R x 2
The Difference Between Compound Interest And Simple Interest...
= 96
100
100



The Difference Between Compound Interest And Simple Interest... 15000
The Difference Between Compound Interest And Simple Interest...
The Difference Between Compound Interest And Simple Interest...
1 +
R
The Difference Between Compound Interest And Simple Interest...
2
- 1 -
2R
The Difference Between Compound Interest And Simple Interest...
= 96
100
100



The Difference Between Compound Interest And Simple Interest... 15000
The Difference Between Compound Interest And Simple Interest...
(100 + R)2 - 10000 - (200 x R)
The Difference Between Compound Interest And Simple Interest...
= 96
10000



The Difference Between Compound Interest And Simple Interest... R2 =
The Difference Between Compound Interest And Simple Interest...
96 x 2
The Difference Between Compound Interest And Simple Interest...
= 64
3


The Difference Between Compound Interest And Simple Interest... R = 8.


The Difference Between Compound Interest And Simple Interest... Rate = 8%.


Question 960.

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and



  • Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.

  • Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.

  • Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.

  • Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.

  • Give answer(E) if the data in both Statements I and II together are necessary to answer the question.





What will be compounded amount?

  1.    I alone sufficient while II alone not sufficient to answer
  2.    II alone sufficient while I alone not sufficient to answer
  3.    Either I or II alone sufficient to answer
  4.    Both I and II are not sufficient to answer
  5.    Both I and II are necessary to answer
 Discuss Question
Answer: Option C. -> Either I or II alone sufficient to answer


 I. Amount = Rs.
What Will Be Compounded Amount?
200 x
What Will Be Compounded Amount?
1 +
6
What Will Be Compounded Amount?
16
What Will Be Compounded Amount?
100



II. Amount = Rs.
What Will Be Compounded Amount?
200 x
What Will Be Compounded Amount?
1 +
6
What Will Be Compounded Amount?
16
What Will Be Compounded Amount?
100


Thus, I as well as II gives the answer.


What Will Be Compounded Amount? Correct answer is (C).


Share this page with your friends!

Share this page with your friends!

Latest Videos

Chapter 1 - GLOBAL STEEL SCENARIO & INDI Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)
Direction Sense Test Part 1 Reasoning (Hindi)
Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE
Cube & Cuboid Part 1 Reasoning (Hindi)
Data Interpretation (DI) Basic Concept Reasoning (Hindi)
Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)
Real Numbers Part 7 Class 10 Maths
Real Numbers Part 1 Class 10 Maths
Polynomials Part 1 Class 10 Maths

Latest Test Papers

Chapter 3.1 : Overview of Finance & Acco Chapter 3 : Finance & Accounts SAIL E0 - GFM 2024
Chapter 2.1 : Overview Chapter 2 : Materials Management SAIL E0 - GFM 2024
Chapter 1.1 : Personnel Functions- An ov Chapter 1 : Personnel Management SAIL E0 - GFM 2024
GPOE / GPA Combined 1 Free CBT Mock Test SAIL E0 2024
CBT Mixed Test 1 GPOE/GPA SAIL E0 2024