Online exam 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 4
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Subject :- Quantitative Aptitude
Chapter :- Simple Interest and Compound Interest-Test 4
Questions :- 25
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What is the difference between Simple Interest and Compound Interest on Rs
70,000 ar 20% rare of interest in one and a half year if Compound Interest is compounded half yearly.
Correct
SI on 1 (1/2) year= 20*1.5=30%
SI on 1 (1/2) years of compounded half
yearly make rate half yearly and time
double
r=10%=1/10 ; t=3 years
10——11
10——11
10——11
1000—-1331
r=331/1000*100=33.1
33.1%of 70,000 = 2170
Incorrect
SI on 1 (1/2) year= 20*1.5=30%
SI on 1 (1/2) years of compounded half
yearly make rate half yearly and time
double
r=10%=1/10 ; t=3 years
10——11
10——11
10——11
1000—-1331
r=331/1000*100=33.1
33.1%of 70,000 = 2170
Question 2 of 25
2. Question
1 points
Divide Rs 20,816 between A and B so thatA’s share at the end of 7 years is equal to
B’s share at the end of 9 years with compound interest being 4% p.a
Correct
second part + (4+4 +16/100) of second part
= first part
second part + 8.16% of second part= first
part
first part/second part= 108.16/100 =
10816/10000
Incorrect
second part + (4+4 +16/100) of second part
= first part
second part + 8.16% of second part= first
part
first part/second part= 108.16/100 =
10816/10000
Question 3 of 25
3. Question
1 points
Find the simple interest and compound interest of Rs 15000 at 20% rate of interest
after 3 years.
A man borrows Rs 8000 at 10% compounded rate of interest. At the end of
each year he pays back Rs 2200. How much amount should he pay at the end of
the third year to clear all his dues?
Correct
first year=8000+800=8800-2200=6600
second year=6600+660=7260-2200=5060
third year=5060+506=5566
Incorrect
first year=8000+800=8800-2200=6600
second year=6600+660=7260-2200=5060
third year=5060+506=5566
Question 5 of 25
5. Question
1 points
What sum of money at compound interest will amount to Rs 32000 in 3 years at the rate of interest 20% in first years, 16 (2/3)% in second year and 14 (2/7)% in third year.
Correct
1st year = 20% =1/5————-5 ————-6
2nd year = 16 (2/3)= 1/6——-6————–7
3rd year = 14 (2/7) =1/7 ——-7————–8
———————————-= 210———
336 on simplifying = 5:8
r=(8-5)/5*100=60%
160%=32000
100%=20000
Incorrect
1st year = 20% =1/5————-5 ————-6
2nd year = 16 (2/3)= 1/6——-6————–7
3rd year = 14 (2/7) =1/7 ——-7————–8
———————————-= 210———
336 on simplifying = 5:8
r=(8-5)/5*100=60%
160%=32000
100%=20000
Question 6 of 25
6. Question
1 points
The compound interest on a certain sum for 2 years is Rs. 786 and S.I. is Rs. 750. If the sum is invested such that the S.I. is Rs. 1296 and the number of years is equal to the rate per cent per annum, Find the rate of interest?
Correct
CI for 2 years = Rs. 786
SI for 2 years = Rs. 750
36/360 * 100 = 10%
P for first year = 3600
P*x*x/100 = 1296
x = 6%
Incorrect
CI for 2 years = Rs. 786
SI for 2 years = Rs. 750
36/360 * 100 = 10%
P for first year = 3600
P*x*x/100 = 1296
x = 6%
Question 7 of 25
7. Question
1 points
Hari took an educational loan from a nationalized bank for his 2 years course of MBA. He took the loan of Rs.5 lakh such that he would be charged at 7% p.a. at CI during his course and at 9% CI after the completion of the course. He returned half of the amount which he had to be paid on the completion of his studies and remaining after 2 years. What is the total amount returned by Hari?
Correct
5,00,000 * (1.07)² = 572450
Returned amount = 286225
After two years = 286225 * (1.09)² = 340063
Total amount = 286225 + 340063 = 626288
Incorrect
5,00,000 * (1.07)² = 572450
Returned amount = 286225
After two years = 286225 * (1.09)² = 340063
Total amount = 286225 + 340063 = 626288
Question 8 of 25
8. Question
1 points
Rs.20,000 was invested by Mahesh in a FD @ 10% pa at CI. However every year he has to pay 20% tax on the CI. How much money does Mahesh have after 3 years?
Correct
Incorrect
Question 9 of 25
9. Question
1 points
Leela takes a loan of Rs. 8400 at 10% p.a. compounded annually which is to be repaid
in two equal annual installments. One at the end of one year and the other at the end of
the second year. The value of each installment is?
Correct
8400 = x*(210/121) => 4840
Incorrect
8400 = x*(210/121) => 4840
Question 10 of 25
10. Question
1 points
A sum of money lent at compound interest for 2 years at 20% per annum would fetch
Rs.723 more, if the interest was payable half yearly than if it was payable annually. The
sum is ____
A sum of Rs.7140 is to be divided between Anita and Bala who are respectively 18 and
19 yr old, in such a way that if their shares will be invested at 4% per annum at
compound interest, they will receive equal amounts on attaining the age of 21 year. The
present share of Anita is
Correct
Amount got by Anita after 3 yr = Amount got by
Bala after 2 yr
x*(26/25)³ = (7140 – x)*(26/25)
26/25 = 7140 – x / x
x = 3500
Incorrect
Amount got by Anita after 3 yr = Amount got by
Bala after 2 yr
x*(26/25)³ = (7140 – x)*(26/25)
26/25 = 7140 – x / x
x = 3500
Question 12 of 25
12. Question
1 points
Suresh borrows Rs.6375 to be paid back with compound interest at the rate of 4 % pa
by the end of 2 year in two equal yearly installments. How much will each installment
will be?
A sum of Rs. 8400 was taken as loan. This is to be paid in two equal annual installments.
If the rate of interest be 20% compounded annually, then the value of each installment is
Correct
Let value of each installment be X.
X/(1 + 20/100) + X/(1 + 20/100)² = 8400
⇒ X(5/6 + 25/36) = 8400
⇒ X(56/36) = 8400
X = 5400
Incorrect
Let value of each installment be X.
X/(1 + 20/100) + X/(1 + 20/100)² = 8400
⇒ X(5/6 + 25/36) = 8400
⇒ X(56/36) = 8400
X = 5400
Question 14 of 25
14. Question
1 points
During the first year the population of a village is increased by 5% and the second
year it is diminished by 5%. At the end of the second year its population was 31500. What was the population at the beginning of the first year?
Correct
x * 105/100 * 95/100 = 31500
x = 31500 * 100/105 * 100/95
D = 31578
Incorrect
x * 105/100 * 95/100 = 31500
x = 31500 * 100/105 * 100/95
D = 31578
Question 15 of 25
15. Question
1 points
If Rs. 7200 amounts to Rs.10368 at compound interest in a certain time , then Rs. 7200 amounts to what in half of the time?
A part of 70000 is lent out at 10% annum. The rest of the amount is lent out at 5% per
annum after one year. The ratio of interest after 3 years from the time when first amount
was lent out is 1:2. Find the second part that was lent out at 5%.
Correct
10*3*x/5*2*y = 1/2
x/y = 1/6
6/7*70000 = 60000
Incorrect
10*3*x/5*2*y = 1/2
x/y = 1/6
6/7*70000 = 60000
Question 17 of 25
17. Question
1 points
There is 50% increase in an amount in 5 years at simple interest. What will be the
compound interest of Rs. 12,000 after 3 years at the same rate?
Correct
In S.I,
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I,
P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
Incorrect
In S.I,
Let P=100, I=50, T=5 yrs
R = 50*100/100*5 = 10%
In C.I,
P = 12000, T=3 yrs, R= 10%
C.I = [12000*(1 + 10/100)^3 – 1 ] C.I = 3972.
Question 18 of 25
18. Question
1 points
Karthik lends a certain amount to Vignesh on simple interest for two years at 20%.
Vignesh gives this entire amount to Kamal on compound interest for two years at the same rate annually. Find the percentage earning of Vignesh at the end of two years on the entire amount.
A man borrows 3000 rupees at 10% compound interest. At the end every year he
pays rupees 1000 back. How much amount should he pay at the end of the fourth Year to
clear all his debt?
Correct
After one year amount = 3000 *110/100 = 3300
He pays 1000 back, so remaining = 3300-1000 =2300
After two year amount = 2300 *110/100 = 2530
He pays 1000 back, so remaining = 2530-1000 =1530
After three year amount = 1530*110/100 = 1683
He pays 1000 back, so remaining = 1683-1000= 683
After fouth year = 683 * 110/100 = 751.3
Incorrect
After one year amount = 3000 *110/100 = 3300
He pays 1000 back, so remaining = 3300-1000 =2300
After two year amount = 2300 *110/100 = 2530
He pays 1000 back, so remaining = 2530-1000 =1530
After three year amount = 1530*110/100 = 1683
He pays 1000 back, so remaining = 1683-1000= 683
After fouth year = 683 * 110/100 = 751.3
Question 20 of 25
20. Question
1 points
Rahul saves an amount of 800 every year and then lent that amount at an interest of 10
percent compounded annually. Find the amount after 3 years.
Correct
Incorrect
Question 21 of 25
21. Question
1 points
Find the compound interest at the rate of 8% for 3 years on that principal which in 3
years at the rate of 10% per annum gives 300 as simple interest.
Correct
SI =300
Per yr = 100
Rate = 10%
C.I = 1000*(108/100)³ -1000
C.I = 259.712
Incorrect
SI =300
Per yr = 100
Rate = 10%
C.I = 1000*(108/100)³ -1000
C.I = 259.712
Question 22 of 25
22. Question
1 points
The difference between the total simple interest and the total compound interest
compounded annually at the same rate of interest on a sum of money at the end of two
years is Rs. 450. What is definitely the rate of interest per cent per annum?
Correct
Incorrect
Question 23 of 25
23. Question
1 points
The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year, 6% for the
third year will be
Correct
A = 6000*108/100*107/100*106/100= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
Incorrect
A = 6000*108/100*107/100*106/100= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
Question 24 of 25
24. Question
1 points
Venkat and Vidhya have to clear their respective loans by paying 2 equal annual
instalments of Rs.30000 each. Venkat pays at 10% pa of SI and Vidhyapays at 10% CI pa. What is the difference in their payments ?
Correct
D =[(30,000 *110/100*110/100) – 30,000] –
30,000 *10*2/100
=[36300-30000]- 6000
=6300 – 6000
D = 300
Incorrect
D =[(30,000 *110/100*110/100) – 30,000] –
30,000 *10*2/100
=[36300-30000]- 6000
=6300 – 6000
D = 300
Question 25 of 25
25. Question
1 points
The difference between interest received by Vivek and Vimal is Rs.405 on Rs.4500 for
3 years. What is the difference in rate of interest ?