Quantitative Aptitude: Simple/Compound Interest Set 09

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

  1. A sum of amount at r% compound interest doubles in 2 years. In 6years it will be a times of the original principal. What is the value of r?
    A) 8
    B) 6
    C) 10
    D) 12
    E) None
    View Answer
    Option A
    Solution:

    A=P(1+r/100)n
    2P=P(1+r/100)2
    2=(1+r/100)2
    Take both side cube , it become 6 years
    23 = { (1+r/100)2 } 3
    8= { (1+r/100)6 }.
  2. Rs 15000 amounts to Rs 25920 in 3 years at r% per annum of compound interest. What is the value of r?
    A) 10
    B) 15
    C) 20
    D) 12
    E) None
    View Answer
    Option C
    Solution:

    A=P(1+r/100)n
    25920=15000(1+r/100) 3
    25920/15000 = (1+r/100) 3
    648/375 = (100+r) 3/1003
    Put r value from options
    R=20%.
  3. If simple interest on a certain sum of money for 6 years at 5% per annum is same as the simple interest on Rs. 720 for 8 years at the rate of 6% per annum then the sum of money is
    A) Rs 1152
    B) Rs 1235
    C) Rs 1310
    D) Rs 1420
    E) None
    View Answer
    Option A
    Solution:

    X *6*5/100 = 720*8*6/100
    X = 144*8 ==> 1152.
  4. Harish borrowed a sum of money and returned it in three equal quarterly installment of Rs17576 each. Find the sum borrowed if the rate of interest charged was 16% per annum compounded quarterly . find also the total interest charged?
    A) 36425, 3215
    B) 48775, 3953
    C) 45620, 3542
    D) 38565, 2965
    E) None
    View Answer
    Option B
    Solution:

    Rate of Interest = 16% per annum
    Actual rate of Interest = 4% per Quarter
    Principal of all three installments
    =17576 [(1+4/100) +(1+4/100)2 +(1+4/100)3]
    = [ 17576 (25/26) + (25/26)2 + (25/26)3]
    =[17576*25*1951/26*676] = 48775
    Total amount paid = Rs.17576 *3 = 52728
    Interest charged = 52728 – 48775 = 3953.
  5. Mr. X invested 1/4 of his total investment at 5% and 1/3 at 4% and rest at 3% for the one year and received total interest of Rs. 460. What is the total sum invested?
    A) Rs 14000
    B) Rs 13500
    C) Rs 15000
    D) Rs 12000
    E) None
    View Answer
    Option D
    Solution:

    Let the Principal be x, then
    [ (x/4)*5 + (x/3)*4 + (5x/12)*3]/100 = 460
    X= Rs 12000.
  6. A person invests some amount at 4% per annum and another amount at 6% per annum. If two-third of the first amount is equal to the one-two of the second amount, and total interest earned in 2 years is Rs. 1080, what was the total sum invested?
    A) Rs10500
    B) Rs8950
    C) Rs 9365
    D) Rs 10125
    E) None
    View Answer
    Option A
    Solution:

    Let the first amount be ‘x’ and the second amount be ‘y’
    (2/3)*x = (1/2)*y
    x = 3/4y
    Total interest earned in 2 years = 1080
    (x*4*2)/100 + (y*6*2)/100 = 1080
    (3/4y*4*2) /100 + (12y)/100=1080
    18y=1080*100
    Y=6000.
    Then , x = 3/4y = 4500
    Therefore, total sum invested = 6000+4500 = Rs.10500.
  7. An amount is invested in two schemes, A and B. Ratio of investment in A to that of B is 17:8. A gives interest after 2 years at 10% compound interest while B gives interest after 2 years at 21% simple interest. What will be the ratio of interest earned through A to that of B?
    A) 9:11
    B) 17:16
    C) 14:11
    D) 16:13
    E) None
    View Answer
    Option B
    Solution:

    Amount invested in A = 17x
    Amount invested in B = 8x
    Interest earned through A = (17x)*[(1+10/100)2 -1 ]
    =(17x*2100)/10000=(17x*21)/100
    Interest earned through B = [(8x)*(21)*2]/100
    Required ratio = (17x*21)/100 : (8x*21*2)/100= 17 : 16.
  8. Find the amount of Rs. 5000 invested at 10% during the period from 1st Jan, 2017 to 15 Apr 2017
    A) Rs 4935.25
    B) Rs 5345.5
    C) Rs 5200
    D) Rs 5143.8
    E) None
    View Answer
    Option D
    Solution:

    Jan 31 Feb 28 March 31 April 15
    Time Period =31+28+31+15 =105days =105/365 years
    Amount= 5000 + (5000*10*105)/ 100*365 = 5000 + 143.8
    =5143.8.
  9. A sum is being lent at 15 % per annum compound interest what is the ratio of increase in amount of 4th year to 5th year?
    A) 12:17
    B) 20:23
    C) 13:19
    D) 23:19
    E) None
    View Answer
    Option B
    Solution:

    P(1+15/100)4/ P(1+15/100)5
    =1/ (1+15/100)=1/(115/100)=100/115

    20:23.
  10. At what percent per annum will a sum of money triple in 14 years?
    A) 13%
    B) 15%
    C) 14 2/7%
    D) 13 1/2%
    E) None
    View Answer
    Option C
    Solution:

    2P=(P*14*r)/100
    200=14*r==> r=200/14 =14 2/7%.

Click here for English Language Questions

 

 

Related posts

2 Thoughts to “Quantitative Aptitude: Simple/Compound Interest Set 09”

  1. Always smile

    thanku az:)

  2. karthik

    Harish borrowed a sum of money and returned it in three equal quarterly installment of Rs17576 each. Find the sum borrowed if the rate of interest charged was 16% per annum compounded quarterly . find also the total interest charged?

    mam, please explain 4th question i am confusing

Leave a Comment