Quantitative Aptitude: Simple Interest/Compound Interest Set 05

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

  1. A man with a sum of Rs3903 wants to deposit in the bank account of his two sons so that both will get equal money after 5yrs and 7yrs respectively at the rate of 4% compounded annually. Find the part of amount deposited into the account of first son?
    A) 2028
    B) 2400
    C) 3000
    D) 1250
    View Answer
    Option A
    Some Extra:

    A( 1+4/100)5 = B(1+4/100)7
    A/B = (1+4/100)² = 676/625
    676+625 = 3903
    1= 3
    676 = 2028
  2. The ratio of difference between compounded interest and simple interest for 3years to the difference between C.I and S.I for 2years is 31 : 10. What is rate of percent per annum ?
    A) 20%
    B) 25%
    C) 16(2/3)%
    D) 10%
    View Answer
    Option D
    Some Extra:

    Principal
    A A A
    .  B B
    .     B
    .     C
    Difference between C.I & S.I for 3yrs = 3B+C
    Difference between C.I & S.I for 2yrs = B
    Now …. (3B+C)/B = 31/10
    B = 10
    C = 1
    Rate = C/B = 1/10 = 10%
  3. A certain sum is lent for 3yrs at 10% compound interest p.a. if the C.I for the 3rd year is 242. Then what will be the S.I for 4yrs?\
    A) 400
    B) 800
    C) 600
    D) 1000
    View Answer
    Option B
    Some Extra:

    R – 10% = 1/10 ….. (10)³ = 1000, let P=1000
    .                      1000
    100……………..100…………….100
    .                       10……………….10
    .                                              10
    .                                                1
    C.I for 3rd yr = 121
    121 = 242
    1 = 2
    P = 1000 = 2000
    S.I = 4*10 = 40% of 2000 = rs800
  4. What will be the difference between compound interest on sum of 3000 for 1(1/2) yrs. When the interest is compounded annually and half yearly respectively if rate is 20% compounded annually?
    A) 30
    B) 33
    C) 36
    D) 39
    View Answer
    Option B
    Some Extra:

    Compound Annually ……..C.I = 960
    Compound half yearly ………. C.I = 993
    Difference = 993 -960 = 33
  5. If a principal becomes triple in 4yrs at C.I then find in how many years it will be nine fold?
    A) 8yrs
    B) 12yrs
    C) 10yrs
    D) 16yrs
    View Answer
    Option A
    Some Extra:

    In C.I ‘P’ increases like…..
    P……….3P………….9P
    .       4            4
    4+4 = 8yrs
  6. If the difference between C.I and S.I at 20% rate of interest ‘is 480. Then find the principal amount?
    A) 3600
    B) 3750
    C) 4000
    D) 4750
    View Answer
    Option B
    Some Extra:

    20% =1/5……….(5)T………=(5)³= 125=principal
    In 3yrs difference will always come
    3A + 1 = (3*5)+1 =16
    16 = 480
    1 =30
    125 =3750
  7. A sum of Rs13,360 was borrowed at 8(3/4)% p.a C.I and paid back in 2yrs in two equal installments. What was the amount of each installment?
    A) 5769
    B) 7569
    C) 7009
    D) 7500
    View Answer
    Option B
    Some Extra:

    8(3/4) = 7/80
    80/87 * 167/87 * installments =13360
    Installments = Rs7569
  8. If a sum of Rs16 becomes Rs81 in 4yrs then find the rate of interest at compound interest?
    A) 33(1/3)%
    B) 40%
    C) 50%
    D) 66(2/3)%
    View Answer
    Option C
    Some Extra:

    4√16 : 4√81
    2 : 3
    3 -2 = 1
    1/2* 100 = 50%
  9. Find the C.I on Rs20,000 at 15% rate of interest in 3yrs?
    A) 10400.5
    B) 10500.5
    C) 10517.5
    D) 10417.5
    View Answer
    Option D
    Some Extra:

    .                 20000
    SI for 1 year = 20000*15/100 = Rs 3000
    3000…………………..3000……………………3000
    .                                450……………………..450
    .                                                                 450
    .                                                                 67.5
    = 9000 + 1350 + 67.5 = 10417.5
  10. S.I on a sum for 3yrs at any rate of interest is 450 while C.I on the same sum at the same rate for 2yrs is 315. Find the sum and rate percent?
    A) 5% , 1500
    B) 10%, 1500
    C) 5%,2000
    D) 10%,2000
    View Answer
    Option B
    Some Extra:

    .                    P
    1st yr150…………….. 2nd yr150
    ……………………………………………….15
    15 = 10% of 150
    So R = 10%
    P = 1500

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