Quantitative Aptitude: Simple Interest/Compound Interest Set 04

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. Find the compound interest on Rs36,000 at a rate in which Rs216 becomes Rs343 in 3years and the time is 2years?
   A) Rs12000
   B) Rs12500
   C) Rs13000
   D) Rs13500
   E) Rs14200
   
   View Answer

   Option C
   Solution:
   first we find the rate
   3√216 : 3√343
   6 : 7
   (+1)
   1/6*100= 16(2/3) %
   Now R = 16(2/3) %=1/6
   6…………….7
   6…………….7
   36 49
    (13) =13000
2. If a principal becomes triple in 3years on C.I. then find in how many years it will be 27 fold?
   A) 39years
   B) 9years
   C) 18years
   D) 27years
   E) 10years
   
   View Answer

   Option B
   Solution:
   in C.I principal increase like
   1….3….9…..27
   …3…..3….3
   = 9years
3. If a principal becomes amount of rs14500 at 14(2/7)% rate of interest in 3years at simple interest. Find the S.I on principal?
   A) Rs4250
   B) Rs4300
   C) Rs4400
   D) Rs4350
   E) Rs4270
   
   View Answer

   Option D
   Solution:
   R = 14(2/7)% = 1/7
   S.I remains same in all years so…
   (P)7 + 1+1+1= 10(A)
   10-7 = 3S.I
   10 =14500
   1=1450
   3=4350
4. If the difference between C.I and S.I is rs256 at 20% rate of interest in 3years. Find the amount on C.I?
   A) Rs4320
   B) Rs2500
   C) Rs3456
   D) Rs3200
   E) Rs3478
   
   View Answer

   Option C
   Solution:
   S.I in 3years = 20*3= 60%
   C.I in 3years = 5……………6
   .                       5……………6
   .                       5………..….6
   .                    125            216
   .                            (91)
   91/125*100= 72.8
   Difference = 72.8 – 60= 12.8
   12.8%= 256
   100% = 2000
   Now P = 2000
   Means in C.I …. 125 =2000
   1 = 16
   216 = 3456
5. A sum becomes 8000 in 3years and 10000 in 6years at C.I. Find the sum ?
   A) Rs6400
   B) Rs6500
   C) Rs6000
   D) Rs7000
   E) Rs7200
   
   View Answer

   Option A
   Solution:
   x : y = y : z
   x : 8000 = 8000 : 10000
   x = 6400
6. Find the C.I on rs9000 at 15% rate of interest for 3years?
   A) Rs4645.87
   B) Rs4680.87
   C) Rs4685.87
   D) Rs4687.87
   E) Rs4356.77
   
   View Answer

   Option D
   Solution:
   15% of 9000 = 1350
   1350……………1350………………1350
   .                      202.5…………….202.5
   .                                               202.5
   .                                               30.37
   = 4687.87
7. Find the compound interest on 18000 at 20% rate of interest in 1(1/2) years, if compounded half yearly ?
   A) Rs5958
   B) Rs4916
   C) Rs5780
   D) Rs3500
   E) Rs6724
   
   View Answer

   Option A
   Solution:
   in half yearly we make rate half and time double.
   So R =20/2 = 10%
   T = 3/2 * 2= 3years
   So 10% of 18000 = 1800
   1800………………1800………………….1800
   .                           180……………………180
   .                                                         180
   .                                                           18
   = 5400 + 540 + 18 = 5958
8. Find the difference between S.I and C.I on Rs 5000 if rate of interest for first year is 10% and 2nd year is 15% and 3rd year is 20%?
   A) Rs300
   B) Rs320
   C) Rs330
   D) Rs340
   E) Rs360
   
   View Answer

   Option D
   Solution:
   S.I = 10+15+20 = 45%
   C.I ..     10…….11
   .            20……23
   .              5…….6
   .         1000…..1518
   .               (518)
   = 518/1000*100 = 51.8 %
   = difference = 51.8 – 45 = 6.8%
   = 6.8% of 5000 = 340
9. If the principal become 6 fold on S.I in 10 years then find in how many years it will be 12 fold?
   A) 24years
   B) 22years
   C) 12years
   D) 20years
   E) 25years
   
   View Answer

   Option B
   Solution:
   P …………………..6P
   6P – P = 5P interest
   5P = 10years
   P = 2years
   11 P = 22years
10. If the compound interest on a sum at 25% rate of interest is Rs900 then find the S.I of 3years at same rate?
    A) Rs1000
    B) Rs1100
    C) Rs1300
    D) Rs1200
    E) Rs1500
    
    View Answer

    Option D
    Solution:
    S.I = 25*3 = 75%
    C.I = 25% =1/4
    4…………..5
    4……………5
    16…………25
    25 -16 = 9
    9 = 900
    16 = 1600 = principal
    So 75% of 1600 =1200

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