# Quantitative Aptitude: Simple/Compound Interest Set 14

1. Find the difference between the interests earned on Rs. 15000 after two years in two different schemes one offering 12% simple interest and other offering 12% compound interest compounded annually.
Rs.180
Rs.198
Rs.222
Rs.200
Rs.216
Option E
S.I. = 15000*0.12*2 = Rs.3600
C.I. = 15000*{(1+0.12)^2 – 1} = Rs.3816
Required Difference = Rs.216

2. Abhi invested a certain amount of money in a scheme offering 20% compound interest for two years. Mona invested Rs.1000 more than Abhi in another scheme offering 25% simple interest for two years. Find the amount invested by Abhi if the difference in the interest earned by Abhi and Mona is Rs.1310.
Rs.12000
Rs.13500
Rs.14400
Rs.15600
Rs.18100
Option B
Let the amount invested by Abhi and Mona be Rs.x and Rs.’x+1000’resp.
Interest earned by Abhi = x*{(1+0.20)^3 – 1}= Rs.0.44x
Interest earned by Mona = (x+1000)*0.25*2 = Rs.0.5x+500
Now, 0.5x+500 â€“ 0.44x = 1310
=> x = Rs.13500

3. Divide Rs. 3364 between A and B, so that A’s Share at the end of 5 years may equal to B’s share at the end of 7 years, compound interest being at 5 percent. Find B’s share
Rs.1400
Rs.1800
Rs.1200
Rs.1000
Rs.1600
Option E
(A’s present share)(1+5/100)^5 = (B’s present share)(1+5/100)^7
=>(A’s present share)/( B’s present share) = 441/400
Aâ€™s present share = 441/(441+400)*3364 = Rs.1764
Bâ€™s present share = 3364 â€“ 1764 = Rs.1600

4. Sahil invested Rs. 84000 in a scheme offering simple interest for three years. Rate of interest for first year, second year and third year is 20%, 24% and 25% resp. Find the interest earned by him after three years.
Rs.55500
Rs.58500
Rs.57960
Rs.55400
Rs.56660
Option C
Interest earned after three years
= 84000*(0.20+0.24+0.25) = Rs.57960

5. Aman invested Rs.17000 partially in a scheme A, offering 12 compound interest compounded annually and rest in scheme B offering 15% simple interest. Find the amount invested in scheme A, if the total interest earned by him after two years is Rs.4644.
10000
50000
40000
30000
20000
Option A
Let the amount invested in scheme A be x.
Interest earned by scheme A = x*{(1+0.12)^2 – 1} = Rs.0.2544x
Amount invested in scheme B = Rs.(17000 – x)
Interest earned by scheme B = (17000 – x)*0.15*2 = Rs.(5100 â€“ 0.3x)
0.2544x + 5100 â€“ 0.3x = 4644
=> x = 10000

6. Gopal invested Rs.16000 in a scheme offering 10% compound interest for three years compounded annually. Vimal invested Rs.21000 in a scheme offering 8% simple interest for three years. Find the difference in the interest earned by both of them.
Rs.280
Rs.274
Rs.256
Rs.220
Rs.200
Option C
Interest earned by Gopal = 16000*{(1+0.10)^3 – 1}
= Rs.5296
Interest earned by Vimal = 21000*0.08*3 = Rs.5040
Required Difference = Rs.256

7. Vikky invested Rs.27,000 partially in a scheme A offering 13% simple interest and rest in scheme B offering 10% compound interest compounded annually. The amount invested in scheme B is how much percent less/more than the amount invested in scheme A if the total interest earned by Vikky after three years is Rs.9822?
24%
30%
50%
10%
20%
Option E
Let the amount invested by him in scheme A be x.
The amount invested by him in scheme B = 27000 â€“ x
Interest earned from A = x*0.13*3 = Rs. 0.39x
Interest earned from B = (27000 – x)*{(1+0.10)^3 – 1} = Rs.8937 â€“ 0.331x
Now, 0.39x +8937- 0.331x = 9822
=> x = 15000
Required% = (15000 – 12000)/15000*100 = 20%

8. Jenny invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
Rs. 5500
Rs. 5000
Rs. 6400
Rs. 6000
Rs. 6400
Option E
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 – x).
[xx14x2]/100 + [(13900 – x)x11x2]/100 = 3508
=>28x – 22x = 350800 – (13900 x 22)
=> 6x = 45000 x = 7500
Sum invested in Scheme B = Rs. (13900 – 7500) = Rs. 6400

9. A and B invested some amounts in schemes offering simple interest at rate of 8% and 12% per annum resp. A and B deposited their respective amounts for 4 years and 2 years resp. and the interest earned by both of them found to be same. If the amount invested by A is Rs.7000 less than the amount invested by B, find the average of the amounts invested by both of them.
Rs.26200
Rs.23300
Rs.21200
Rs.24500
Rs.22000
Option D
Let the amount invested by B be x.
The amount invested by A be (x-7000)
Now, x*12%*2 = (x-7000)*8%*4
=> x = 28000
Required average = (28000+21000)/2 = Rs.24500

10. Danish invested Rs. x in a scheme offering 12% simple interest for three years. Reena invested Rs. (x+3000) in a scheme offering 10% compound interest for three years. Find the value of x if the interest earned by Reena is Rs.761 more than the interest earned by Danish.
6000
8000
7000
4000
5000
Option B
Interest earned by Danish = x*0.12*3 = Rs.0.36x
Interest earned by Reena = (x+3000){(1+0.10)^3 -1} = Rs.(0.331x + 993)
Now, 0.331x + 993 â€“ 0.36 = 761
=> x = 8000

## One Thought to “Quantitative Aptitude: Simple/Compound Interest Set 14”

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