The difference between simple interest and compound interest on a sum of rs.4400 for 2years is rs.44. What is the rate of interest per annum? 10% 15% 12% 18% 20% Option A Solution: Let the rate of interest be r% per annum.ATQ, 4400×r^2/(100×100)=44 r= 10% If the sum of money gets tripled at a certain rate of simple interest…
Read More
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 Abhi invested a certain amount of…
Read MoreSimple interest on a certain amount is 4/25 of the principal. If the numbers representing the rate of interest in percent and time in years be equal, Find the time, for which the principal is lent out. 5 years 8 years 10 years 4 years 2 years Option D Rate = Time = t New Time , t = (4p*100)/(25*t*p)…
Read MoreThere is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 10,000 after 2 years at the same rate? Rs2450 Rs2100 Rs1855 Rs2200 None Option B Solution: Let principal be Rs100. rate r. 50% increase in amount says SI=50. (100*5*r /100) =50 r=10%. CA=P[(1+r/100)2] =10,000*[(1+10/100) 2] =10,000*11/10*11/10 =12100. CI=Rs2100. A…
Read MoreA 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. What is the simple interest on a sum of Rs.…
Read MoreA lent Rs. 6000 to B for 3 years and Rs. 7000 to C for 4 years on simple interest at the same rate of interest and received Rs. 4600 in all from both of them as interest. The rate of interest per annum is: 12% 10% 8% 9% None Option B Solution: Let the rate of interest be r.…
Read MoreSimple Interest/Compound Interest Questions for IBPS PO, SBI PO, NIACL, NICL, LIC, UICL, Bank of Baroda and other competitive exams. A sum of amount at r% compound interest doubles in 2 years. In 6years it will be a times of the original principal. What is the value of r? A) 8 B) 6 C) 10 D) 12 E) None Rs…
Read MoreSimple Interest/Compound Interest Questions for IBPS PO, SBI PO, NIACL, NICL, LIC, UICL, Bank of Baroda and other competitive exams. Out of a sum of Rs 850, a part was lent at 6% SI and the other at 12% SI. If the interest on the first part after 2 years is equal to the interest on the second part after…
Read MoreSimple Interest/Compound Interest Questions for IBPS PO, SBI PO, NIACL, NICL, LIC, UICL, Bank of Baroda and other competitive exams. A sum of Rs. 10,000 is borrowed at 8% per annum compounded annually. If the amount is to be paid in three equal installments, the annual installment will be A) Rs 3520.25 B) Rs 3880.335 C) Rs 4200.15 D) Rs…
Read MoreSimple Interest/Compound Interest Questions for IBPS PO, SBI PO, NIACL, NICL, LIC, Dena Bank PO PGDBF, BOI, Bank of Baroda and other competitive exams Mosses invested Rs. 20,000 in a scheme at simple interest @ 15% per annum. After three years he withdrew the principal amount plus interest and invested the entire amount in another scheme for two years, which…
Read More