Quantitative Aptitude: Simple/Compound Interest Set 11

  1. A Man invested an amount for 2 years at 6 percent per annum at simple interest. Had the interest been compounded anually, he would have earned Rs. 108 more as interest. What was the amount invested?
    Rs28,000
    Rs33,000
    Rs24,000
    Rs30,000
    None
    Option D
    Solution:
    For 2 years CI-SI=PR2/1002
    108=(P*6*6)/100*100
    P=Rs30,000.
  2. What is the simple interest on a sum of Rs. 1500 if the rate of interest for the first 5 years is 9% per annum and for the last 3 years is 8.5% per annum?
    RS965.5
    Rs1057.5
    Rs982
    Rs1011
    None
    Option B
    Solution:
    SI=(1500*5*9/100) + (1500*3*8.5/100)
    =(15*45) + (15*3*8.5)
    =675+382.5
    =Rs1057.5.
  3. A sum of Rs 18,750 is left in will by a father to be divided between two sons, whose present age is 12 and 14 years respectively, such that when they attain maturity at 18, the amount (Principal + interest) received by each at 5% S.I. will be the same. Find the sum allotted at present to each son.
    Rs10000, Rs8750
    Rs7000, Rs11750
    Rs9000, Rs9750
    Rs9500, Rs9250
    None
    Option C
    Solution:
    Let the 1st son part be x then 2nd son 18750-x.
    x+ (x*6*5)/100 = 18750-x + (18750-x*4*5 )/100
    130x=18,75,000 – 100x+3,75,000 -20x
    250x=2250000
    1st son x=Rs9000
    then 2nd son Rs9750.
  4. A person invested in all Rs. 1950 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 8% is
    Rs450
    Rs390
    Rs520
    Rs430
    None
    Option A
    Solution:
    a*4/100 = b*6/100= c*8/100
    Then a:b:c=6:4:3
    13………. 1950
    3 ………. ? ==> Rs450.
  5. What is the rate of simple interest for the first 4 years if the sum of Rs. 650 becomes Rs. 936 in 10 years and the rate of interest for the last 6 years is 4%?
    5%
    8%
    4%
    6%
    None
    Option A
    Solution:
    Interest for the last 6 years = (650*6*4)/100 = Rs. 156.
    then Interest for year = 936-650 = 286;
    So, interest for first four years = 286-156 = Rs. 130
    r for first four years = (130*100)/650*4
    r= 5%.
  6. Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum on simple interest is
    Rs1400
    Rs1525
    Rs1750
    Rs1620
    None
    Option C
    Solution:
    CI=4000*[(1+ 10/100)-1] =4000*(11/10*11/10-1)
    =Rs840.
    SI = 840/2=Rs420
    Sum=(420*100)/(3*8)
    =Rs1750.
  7. Swetha invested a sum of money at a certain rate of simple interest for a period of 5 yrs. The total interest earned by him would have been 40% more than the earlier interest amount when invested for 6 years. What was the rate of interest per cent per annum ?
    8%
    12%
    9%
    Data Inadequate
    None
    Option D
    Solution:
    Data Inadequate.
  8. What is the difference between the compound interests on Rs. 5000 for 11/2 years at 4% per annum compounded yearly and half-yearly?
    Rs3.20
    Rs2.04
    Rs2.50
    Rs1.45
    None
    Option B
    Solution:
    CI yearly =5000*(1+4/100)*(1+(1/2 *4)/100)
    =5000*26/25*51/50
    =Rs5304.
    CI half yearly=5000*(1 + 2/100)3
    =5000*51/50*51/50*51/50
    =Rs5306.04.
    Difference=5306.04-5304=Rs2.04.
  9. A certain amount earns simple interest of Rs. 1250 after 6 years. Had the interest been 4% more, how much more interest would it have earned?
    Rs320
    Rs410
    Rs550
    Data Inadequate
    None
    Option D
    Solution:
    Data Inadequate.
  10. Seema borrows Rs. 2500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 15% per annum for the other. The total interest he pays for the entire year is Rs. 354. How much does he borrow at the rate of 15%
    Rs1600
    Rs1550
    Rs1800
    Rs2150
    None
    Option C
    Solution:
    Use allegation mixture
    (2500*12*1)/100=300
    (2500*15*1)/100=375
    Then 300 (12%)……………… 375(15%)
    . …………… 354 (both)
    …… 21 …………….. 54==>7:18
    ……(7+18) 25 …………………………. 2500
    ……… 18 ………………. ?==> Rs1800.



 

Related posts

2 Thoughts to “Quantitative Aptitude: Simple/Compound Interest Set 11”

Leave a Comment