Online Quiz in Ratio and Proportions For Quantitative Aptitude for Competitive exams like IBPS BANK PO/Clerical,SBI,RRB,SSC,LIC,UPSC-CSAT,SCRA.MAT,CMAT,MBA,SNAP,CAT,NTSE,CLAT
Simple Interest and Compound Interest-Test 2
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Subject :- Quantitative Aptitude
Chapter :- Simple Interest and Compound Interest-Test 2
Questions :- 25
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What will be the amount if sum of Rs.10,00,000 is invested at compound
interest for 3 years with rate of interest 11%, 12% and 13% respectively?
Correct
Here P=10,00,000 R1=11 R2=12 R3=13
Amount after 3 yrs
=p(1+R1/100)(1+R2/100)(1+R3/100)
10,00,000*(1+11/100)(1+12/100)(1+13/10
0)=14,04,816.
Incorrect
Here P=10,00,000 R1=11 R2=12 R3=13
Amount after 3 yrs
=p(1+R1/100)(1+R2/100)(1+R3/100)
10,00,000*(1+11/100)(1+12/100)(1+13/10
0)=14,04,816.
Question 2 of 25
2. Question
1 points
Two persons P and Q borrowed Rs.40,000/- and Rs.60,000/- respectively
from R at different rates of simple interest. The interest payable by P at the end of the
first four years and that payable by Q at the end of the first three years is the same. If
the total interest payable by P and Q for one year is Rs.8,400/- then at what rate did
Q borrow the money from R?
Correct
40000*4*R1/100=60000*3*R2/100
R1=9/8R2
1yr interest
40000*1*r1/100+60000*1*R2/100=8400
4R2+6R2=84
Then substitute 4(9/8R2)+6R2=84==>
R2=8
Incorrect
40000*4*R1/100=60000*3*R2/100
R1=9/8R2
1yr interest
40000*1*r1/100+60000*1*R2/100=8400
4R2+6R2=84
Then substitute 4(9/8R2)+6R2=84==>
R2=8
Question 3 of 25
3. Question
1 points
In what time will Rs 390625 amount to Rs 4,56,976 at 4% compound interest?
Correct
P(1+r/100)t = A
390625(1+4/100)t = 456976
(1+1/25)t = 456956 / 390625
(26/25)t = (26/25)4
T = 4
Incorrect
P(1+r/100)t = A
390625(1+4/100)t = 456976
(1+1/25)t = 456956 / 390625
(26/25)t = (26/25)4
T = 4
Question 4 of 25
4. Question
1 points
The difference between C.I. and S.I. on a certain sum of money at 10% per annum
for 3 years is Rs. 620. Find the principal if it is known that the interest is compounded
annually.
Correct
Incorrect
Question 5 of 25
5. Question
1 points
Shanthi borrowed Rs.75,000.00 from two banks at compound interest compound
annually. One bank charges interest at the rate of 15% per year and the other bank at
20% per year. If at the end of the year, shanthi paid Rs.12,000.00 as the total
interest to the two banks, how much did she borrow from the second bank?
Correct
P*(1+r/100)=A
75000*(100+r)/100=(75000+12000)87000
100+r=116==>r=16%
15…………….20
…………16
Ratio 4:1
Total 5 == 75000
1 ? == Rs15000.
Incorrect
P*(1+r/100)=A
75000*(100+r)/100=(75000+12000)87000
100+r=116==>r=16%
15…………….20
…………16
Ratio 4:1
Total 5 == 75000
1 ? == Rs15000.
Question 6 of 25
6. Question
1 points
Reena is borrowed a sum of RS. 6000 from Raveena at the rate of 14% for 2 years. She
then added some more money to the borrowed sum and lent it to Sameera at the
rate of 18% of simple interest for the same time. If Reena gained Rs. 650 in the whole
transaction , then what sum did he lend to Sameera?
Correct
Let the money lent to Sameera be Rs.x
Therefore ,
x*(18/100)*2 – 6000*(14/100)*2 = 650
=> x= 6472.22
Incorrect
Let the money lent to Sameera be Rs.x
Therefore ,
x*(18/100)*2 – 6000*(14/100)*2 = 650
=> x= 6472.22
Question 7 of 25
7. Question
1 points
The rate of interest on a sum of money is 4% per annum for the first 2 years , 6% per
annum for the period next 4 years, 8% per annum for the period beyond 6 years.If the
simple interest accrued by the sum for a total period of 9 years is Rs. 1680 ,what is
the sum ?
Correct
SI at the rate of 4% for 2 years ,
=( P* 4*2)/100 = 8P/100
SI at the rate of 6% for 4 years ,
(P*6*4)/100 = 24P/100
SI for the next 3 years
SI = (P*8*3)/100 = 24P/100
Total SI = 8P/100 + 24P/100 + 24P/100
=>P = (1680*100 )/56 = 3000
Incorrect
SI at the rate of 4% for 2 years ,
=( P* 4*2)/100 = 8P/100
SI at the rate of 6% for 4 years ,
(P*6*4)/100 = 24P/100
SI for the next 3 years
SI = (P*8*3)/100 = 24P/100
Total SI = 8P/100 + 24P/100 + 24P/100
=>P = (1680*100 )/56 = 3000
Question 8 of 25
8. Question
1 points
The simple interest on a certain sum for 2 years at the rate of 5% per annum is
Rs.160. What would be the difference of compound interest and simple interest for
the same period and at the same rate of interest?
Correct
For 2 years
SI = 5* 2= 10 % of the sum
CI = 5 + 5+ (5*5)/100 = 10.25% of the sum
required diff. = 10.25 – 10 = 0.25% of the
sum
Therefore ,
the required diff. = (160/10) * 0.25 = Rs.4
Incorrect
For 2 years
SI = 5* 2= 10 % of the sum
CI = 5 + 5+ (5*5)/100 = 10.25% of the sum
required diff. = 10.25 – 10 = 0.25% of the
sum
Therefore ,
the required diff. = (160/10) * 0.25 = Rs.4
Question 9 of 25
9. Question
1 points
What is the difference between CI and SI ,if sum is Rs.10,000 for 3 years at the rate of 3%?
Arjun lent out a sum of money at compound interest rate of 30% per annum
for 2 years .It would fetch Rs. 500 more if interest is compounded half –yearly.
Correct
P[1+(15/100)]^4 – P[1 +(30/100)]^2 = 500
=> P = 8333.33
Incorrect
P[1+(15/100)]^4 – P[1 +(30/100)]^2 = 500
=> P = 8333.33
Question 11 of 25
11. Question
1 points
At what rate of % per annum will Rs.2304 amount to Rs. 2500 in 2 years compounded annually.
The ratio of the amount for 2 years under compound interest annually and for 1 year under simple interest is 5:4 when the rate of interest is same then find the rate of interest?
Correct
rate /100 = 5/4 -1
rate = 25%
Incorrect
rate /100 = 5/4 -1
rate = 25%
Question 13 of 25
13. Question
1 points
Anu borrowed Rs.800 at rate of interest 10% . He repaid Rs.400 at the end of first
year.What is the amount required to repay at the end of second year to discharge his
loan which was calculated at compound interest?
Correct
Amount paid at the end of 1 year = 800[1
+ 10/100] = 880
Amount left as principal for the second
year = 880-400 = 480
Amount to be paid after 2nd year = 480 [1 +
10/100] = Rs.528
Incorrect
Amount paid at the end of 1 year = 800[1
+ 10/100] = 880
Amount left as principal for the second
year = 880-400 = 480
Amount to be paid after 2nd year = 480 [1 +
10/100] = Rs.528
Question 14 of 25
14. Question
1 points
Sahil has lent some money to Anita at 6% per annum and Sheetal at 8% per annum.
At the end of the year he has gain the overall interest at 7% per annum.In what
ratio has he lent the money to Anita and Sheetal?
Correct
Incorrect
Question 15 of 25
15. Question
1 points
What is the ratio of the simple interest earned by certain amount for 4 years and 8
years at the same rate of interest?
Correct
ratio = 4PR / 8PR = 1 : 2
Incorrect
ratio = 4PR / 8PR = 1 : 2
Question 16 of 25
16. Question
1 points
A man with a sum of Rs 3903 wants to deposit in the bank account of his two sons
so that both will get equal money after 5 yrs and 7 yrs respectively at the rate of 4%
compounded annually. Find the part of amount deposited into the account of first
son?
The ratio of difference between compounded interest and simple interest for 3 years to the difference between C.I and S.I for 2years is 31 : 10. What is rate of percent per annum ?
Correct
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%
Incorrect
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%
Question 18 of 25
18. Question
1 points
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?\
Correct
Incorrect
Question 19 of 25
19. Question
1 points
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?