Quantitative Aptitude: Simple/Compound Interest Set 23

  1. A sum of rs.P invested on compound interest annually at certain rate of interest and it three times itself in five years. In how many years the amount to 9 times itself at the same rate of interest ?
    5 years
    8 years
    7 years
    10 years
    12 years
    Option D
    3P = P(1 + R/100)^5
    3 = (1 + R/100)^5
    3^2 = (1 + R/100)5*2
    9 = (1 + R/100)^10
    time = 10 years

     

  2. A lends rs. 5500 to B at 20% per annum and B lends the same sum to C at 22% per annum. Find the gain of B after 2 years in simple interest.
    380
    275
    220
    440
    554
    Option C
    B gives the interest to A after 2 years,
    5500 * 20/100 * 2 = 2200
    C gives the interest to B after 2 years
    5500 * 22/100 * 2 = 2420
    the gain of B = 2420 – 2200 = 220

     

  3. Difference between compound interest and simple interest on sum of rs.4800 at certain rate of interest after 2 years is rs. 108. What is the rate of interest ?
    14%
    15%
    17%
    12.5%
    24%
    Option B
    CI – SI = PR^2/100^2
    108 = 4800R^2/10000
    R^2 = 108 * 10000/4800
    P^2 = 225
    R = 15%

     

  4. After two years ratio between simple interest to principle is 2 : 5. If difference between CI and SI after two years is 208, then find principle ?
    4800
    4750
    4540
    4850
    5200
    Option E
    Let principle = 5x
    and SI = 2x
    rate of interest for two years = 2x/5x * 100 = 40%
    rate of interest for 1 years = 40%/2 = 20%
    CI – SI = PR^2/100^2
    208 = P (20)^2/10000
    P = 5200

     

  5. Two persons P and Q invested rs. (x + 3400) and (x+ 2200) at the rate of 15% and 20% respectively for two years in simple interest. After two years total SI is rs.7220, then how much amount invested by Q ?
    7600
    9820
    5840
    6450
    9240
    Option A
    (x + 3400) * 15 /100 * 2 + (x + 2200) * 20/100 * 2 =7220
    (x + 3400) * 3/10 + (x+2200)*2/5 = 7220
    (3x + 102000/10) + (2x + 4400/5) = 7220
    (3x + 10200 + 4x + 8800/10) = 7220
    7x + 19000 = 72200
    x = 7600

     

  6. Total sum of rs.4740 is invested by two friends A and B in a scheme at the rate interest of 12% p.a for 4 year in SI. If interest received by B is 67.20 more than interest received by A, then find how much amount invested by A ?
    2800
    2300
    1840
    2350
    none of these
    Option B
    A invested = x
    B invested = 4740 – x
    (4740 – x) 12/100 * 4 – x * 12/100 * 4 = 67.20
    48/100 ( 4740 – x – x) = 6720
    12/25 (4740 – 2x) = 67.20
    4740 – 2x = 67.20 * 25/12
    4740 – 2x = 140
    2x = 4600
    x = 2300
    amount invests by A= 2300

     

  7. What is the compound interest accrued on a sum of 1400 at the rate of 6% in 2 years ?
    184.25
    254.08
    334.05
    173.04
    234.14
    Option D
    Compound interest for 2 years
    6 + 6 + 6 * 6/100 = 12.36 %
    compound interest = 1400 * 12.36/100 = 173.04

     

  8. The compound interest on a certain sum at 20% p.a for 2 years is rs. 98 more than the simple interest on same sum at 15% per annum for 2 years. What is the sum ?
    700
    480
    320
    1000
    650
    Option A
    Let sum is rs.x
    compound interest for 2 years at 20 % p.a
    20 + 20 + 20 * 20 /100 = 44%
    simple interest for 2 years at 15 % = 15% * 2 = 30%
    x * 44/100 – x * 30/100 = 98
    x = 700

     

  9. A certain sum is deposited at rate of 40% p.a on Compound interest. Difference between interest earned at the 1st and 2nd year is rs.384. What is the sum ?
    4800
    4500
    3200
    4500
    2400
    Option E
    Let sum = 100x
    interest of 1st year = 100x * 40/100 = 40x
    total amount at the end of the 1st year = 100x + 40x = 140x
    interest of 2nd year = 140x * 40/100 = 56x
    difference = 56x – 40x = 16x
    16x = 384
    x = 24
    sum = 100x = 100 * 24 = 2400

     

  10. What is difference between the compound interest on rs.4000 for 1.5 years at 40% p.a compounded yearly and half-yearly ?
    182
    192
    534
    314
    208
    Option B
    Rate of interest after 1.5 years compounded yearly at 40%p.a
    40 + 20 + 800/100 = 68%
    CI = 4000 * 68/100 = 2720
    Rate of interest after 1.5 years compounded half-yearly
    rate of interest = 40/2 = 20%
    20 + 20 + 20 * 20 /100 = 44%
    44% + 20% + 880/100 = 72.80%
    CI = 4000 * 72.80 /100 = 2912
    difference = 2912 – 2720 = 192

     

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  94. Based on my research, after a in foreclosure home is available at an auction, it is common for that borrower in order to still have a remaining unpaid debt on the mortgage. There are many loan providers who make an effort to have all service fees and liens paid off by the future buyer. Nonetheless, depending on particular programs, laws, and state legal guidelines there may be quite a few loans which aren’t easily resolved through the shift of lending options. Therefore, the duty still remains on the customer that has got his or her property foreclosed on. Thank you for sharing your opinions on this blog.

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