Quantitative Aptitude: Simple Interest/Compound Interest Set 02

Simple Interest/Compound Interest Questions Bank PO for SBI PO, IBPS PO, NIACL, NICL, LIC, Dena Bank PO PGDBF, BOI, Bank of Baroda and other competitive exams

1. If a sum amounts to Rs 6000 in 2 years on CI. What will it become after 4 years on C.I, if the principal amount was Rs 4500?
A) Rs 7500
B) Rs 8000
C) Rs 8500
D) Rs 9000
E) None of these
Option B
Solution
:
a————–b————-c
. Â Â 2 years—–2 years
a:b = b:c
4500:6000 = 6000:x
x = 8000
2. If Compound Interest on certain sum for 2 years is 352 at some rate of interest and Simple Interest on same rate for 3 years is 480, then find the sum.
A) Rs 800
B) Rs 1000
C) Rs 700
D) Rs 900
E) None of these
Option A
Solution
:
SI for 1 years= 480/3 =160 (as SI is same for every year)
SI for 2 years=320
CI for w year=352; diff=32
32=20% of 160
hence r=20%
20%=160
100%=800
3. If a sum of RS 2744000 becomes Rs 3176523 in three years on Compound Interest then find the rate of interest.
A) 10%
B) 5%
C) 8%
D) 20%
E) None of these
Option B
Solution
:
Find the cube root of both numbers. Cube root-> 3 years
cube root(2744000): cube root(3176523)
140:147
rate=(147-140)/140*100==5
4. If the difference between Simple Interest and Compound Interest at 20% rate of Interest in 3 years is 5120, then find the sum.
A) Rs 40,000
B) Rs 50,000
C) Rs 60,000
D) Rs 30,000
E) None of these
Option A
Solution
:
On SI interest=20% *3 =60%
On CI interest =20%= 1/5
5——-6
5——-6
5——-6
________
125—-216
(216-125)/125*100=72.8%
diff=72.8-60=12.8%
12.8%=5120
100%=40,000
5. Find the Compound Interest on Rs 30,000, if the rate of interest for first year is 5% second year is 10% and on the third year is 20%
A) 11580
B) 11500
C) 10500
D) 10000
E) None of these
Option A
Solution
:
1st year 5%=1/20————20———21
2nd year 10% =1/10———10———11
3rd year 20% =1/5———–5———-6
——————————–=1000——1386
(1386-1000)/1000*200=38.6%
38.6% of 30000=11580
6. What is the difference between Simple Interest and Compound Interest on Rs 70,000 ar 20% rare of interest in one and a half year if Compound Interest is compounded half yearly.
A) Rs 2070
B) Rs 2160
C) Rs 2170
D) Rs 2060
E) None of these
Option C
Solution
:
SI on 1 (1/2) year= 20*1.5=30%
SI on 1 (1/2) years of compounded half yearly make rate half yearly and time double
r=10%=1/10 ; t=3 years
10——11
10——11
10——11
1000—-1331
r=331/1000*100=33.1
33.1%of 70,000 = 2170
7. Divide Rs 20,816 between A and B so that A’s share at the end of 7 years is equal to B’s share at the end of 9 years with compound interest being 4% p.a
A) 10716, 10100
B) 10616, 10200
C) 10816, 10000
D) 10800, 10016
E) None of these
Option C
Solution
:
second part + (4+4 +16/100) of second part = first part
second part + 8.16% of second part= first part
first part/second part= 108.16/100 = 10816/10000
8. Find the simple interest and compound interest of Rs 15000 at 20% rate of interest after 3 years.
A) 9000, 11000
B) 8000, 11920
C) 9000, 10920
D) 6000, 9000
E) None of these
Option C
Solution
:
SI= 20*3=60%=9000
CI=
3000 ———— 3000 ———3000
——————-600————–600
————————————–600
————————————–120
=> 9000+1800+120=10920
9. A man borrows Rs 8000 at 10% compounded rate of interest. At the end of each year he pays back Rs 2200. How much amount should he pay at the end of the third year to clear all his dues?
A) Rs 5500
B) Rs 5466
C) Rs 5666
D) Rs 5566
E) None of these
Option D
Solution
:
first year=8000+800=8800-2200=6600
second year=6600+660=7260-2200=5060
third year=5060+506=5566
10. What sum of money at compound interest will amount to Rs 32000 in 3 years at the rate of interest 20% in first years, 16 (2/3)% in second year and 14 (2/7)% in third year.
A) Rs 18,000
B) Rs 20,000
C) Rs 22,000
D) Rs 25,000
E) None of these
Option B
Solution
:
1st year = 20% =1/5————-5 ————-6
2nd year = 16 (2/3)= 1/6——-6————–7
3rd year = 14 (2/7) =1/7 ——-7————–8
———————————-= 210———336 on simplifying = 5:8
r=(8-5)/5*100=60%
160%=32000
100%=20000

7 Thoughts to “Quantitative Aptitude: Simple Interest/Compound Interest Set 02”

1. Oliver Queen

Mam que 8 mein 11920 nahi 10920 hoga

1. Yes. Ty for the corrections

1. Oliver Queen

No thanks, it’s Pleasure of mine

2. garima shah

mam 7th explain kr dijiye thoda kaise kiya h?

1. second part + (4+\$ +16/100) of second part = first part

In this, its not \$, It is::

second part + (4+4 +16/100) of second part = first part

(4+4 +16/100) = 8.16
So
second part + 8.16% of second part= first part
first part/second part= 108.16/100 = 10816/10000

2. sachin shukla@ my turn 2017

ty..

3. kumkum ahuja

ty az:)