Dear Readers, IBPS is conducting Online Mains Examination for the recruitment of Clerical Cadre. To enrich your preparation here we have providing new series of Compound Interest Questions – Quantitative Aptitude Questions. Candidates those who are appearing in IBPS Clerk Main Exam can practice these Quantitative Aptitude Average questions daily and make your preparation effective.
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Practice Aptitude Questions (Compound Interest) Day-5
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Question 1 of 10
1. Question
Avinash invested 3400 in each of the two schemes X and Y. Schemes X offers compound interest (compound annually) and Schemes Y offers simple interest. In both the schemes he invested for two years and the rates of interest both the schemes were equal. If the interest Earned by him from the scheme X is 98.26 more than that earned by him from scheme Y, what is the rate of interest (pcpa) of both the sums?
Correct
Answer: c
Shortcut:
Diff = sum*(r/100)^{2}
98.26 = 3400 *(r/100)^{2}
r^{2} = 9826*100 / (3400) = 9826/ 34 =289
r= √289
r =17% (rate of interest)
Incorrect
Answer: c
Shortcut:
Diff = sum*(r/100)^{2}
98.26 = 3400 *(r/100)^{2}
r^{2} = 9826*100 / (3400) = 9826/ 34 =289
r= √289
r =17% (rate of interest)
Question 2 of 10
2. Question
Kavitha took a loan at Rs.15000 from vineeth. It was agreed that for the first three years the rate of interest charged would be at 8% simple interest per annum and at 10% compound interest (compounded annually) from the fourth year on wards. Ram did not pay anything until the end of the fifth year. How much would he has to repay if he clears the entire amount only at the end of the fifth year (in Rupees)
Correct
Answer: c
S.I for 1^{st} three years= 15000*8*3 /100 = 3600
Amount after three years =15000+3600= 18600
Amount he pays 10% compound interest for 2 years,
=18600 (1+10/100)^{2} =22506
After 5 years Raman Requires to Pay 22506
Incorrect
Answer: c
S.I for 1^{st} three years= 15000*8*3 /100 = 3600
Amount after three years =15000+3600= 18600
Amount he pays 10% compound interest for 2 years,
=18600 (1+10/100)^{2} =22506
After 5 years Raman Requires to Pay 22506
Question 3 of 10
3. Question
Vicky invested 20000 at 20% Pa., The interest was compounded half- yearly for the first year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?
Correct
Answer: c
Formula Method:
For 1^{st} 6 months = p(1+r/200)^{2n}
=20000 (1+20/200)^{2*1/2}
^{ } = 20000 *(11/10) =22000
CI = 22000 -20000 =2000
For 2^{nd }6 months = 22000(1+20/200)^{2*1/2}
= 22000*(11/10) =24200
CI = 242000-22000 =2200
For 2^{nd} year = 24200 (1+20/100)^{1}
= 24200(6/5) =29040
= 29040-24200 = 4840
Total interest = 2000+2200+4840 = 9040
Another method:
The interest was compounded half- yearly for the first year. So r=10%
20000*10/100= 2000
22000*10/100=2200
The next year it was compounded yearly. So r=20%
24200*20/100=4840
=>2000+2200+4840=9040
Incorrect
Answer: c
Formula Method:
For 1^{st} 6 months = p(1+r/200)^{2n}
=20000 (1+20/200)^{2*1/2}
^{ } = 20000 *(11/10) =22000
CI = 22000 -20000 =2000
For 2^{nd }6 months = 22000(1+20/200)^{2*1/2}
= 22000*(11/10) =24200
CI = 242000-22000 =2200
For 2^{nd} year = 24200 (1+20/100)^{1}
= 24200(6/5) =29040
= 29040-24200 = 4840
Total interest = 2000+2200+4840 = 9040
Another method:
The interest was compounded half- yearly for the first year. So r=10%
20000*10/100= 2000
22000*10/100=2200
The next year it was compounded yearly. So r=20%
24200*20/100=4840
=>2000+2200+4840=9040
Question 4 of 10
4. Question
A person invested P on compound interest at the rate of 10% for 2 years, and invested (p+200) at the rate of 14% for 4 years. The total interest obtained is 5000. Find the total amount (in rupees) invested by the person.
Correct
Answer: B
P ((1+10/100)^{2}-1) + (p+200) ((1+14/100)^{4} -1) =5000
If the difference between the amount earned by Elango after 3 years and after 2 years is 865.28 and the principal compounded annually for 3 years at the rate 4% per annum, then What is the investment done by Elango?
Correct
Answer: c
P(1+r/100)^{3} – P(1+r/100)^{2} =865.28
P(1+4/100)^{3} – p(1+4/100)^{2}=865.28
P(26/25)^{3} – p(25/26)^{2} = 865.28
P=20000
Incorrect
Answer: c
P(1+r/100)^{3} – P(1+r/100)^{2} =865.28
P(1+4/100)^{3} – p(1+4/100)^{2}=865.28
P(26/25)^{3} – p(25/26)^{2} = 865.28
P=20000
Question 6 of 10
6. Question
A person invested a certain amount at simple interest at the rate of 6% per annum and earned Rs.1350 as interest at the end of three years. Had the interest been compounded every year, how much more interest been compounded every year, How much more interest would he have earned on the same amount at the same rate of interest after three years?
Correct
Answer:c
Principle of the person = 1350*100/(6*3) = 7500
CI =7500 *(106/100)*(106/100)*(106/100) =8932.62
8932.62-7500 =1432.62
More interest = 1432.62 -1350 = 82.62
Incorrect
Answer:c
Principle of the person = 1350*100/(6*3) = 7500
CI =7500 *(106/100)*(106/100)*(106/100) =8932.62
8932.62-7500 =1432.62
More interest = 1432.62 -1350 = 82.62
Question 7 of 10
7. Question
Aman invested in 2 schemes. In schemes A, he invests 8000 at 10% rate of interest and In Scheme B, he invests 1000 at 5% rate of interest. If both compounded annually and no.of years is 3. What will be the difference between the interests?
Correct
Answer: c
8000(1+10/100)^{3} =10648
10648 -8000 =2648
1000(1+5/100)^{3} = 1157.625
1157.625 -1000 =157.625
Difference between the investment = 2648- 157.625= 2490.375
Incorrect
Answer: c
8000(1+10/100)^{3} =10648
10648 -8000 =2648
1000(1+5/100)^{3} = 1157.625
1157.625 -1000 =157.625
Difference between the investment = 2648- 157.625= 2490.375
Question 8 of 10
8. Question
A sum invested at compound interest at a certain rate for 4 years. Had it been put at 5% higher rate, it would have fetched 3000 more. What was the sum invested?
Correct
Answer: b
Let the rate be X%
Then, (x+5)*p*4 /100 – (p*x*4)/100 =3000
Px +5P-Px = 3000 *25
P = 15000
Incorrect
Answer: b
Let the rate be X%
Then, (x+5)*p*4 /100 – (p*x*4)/100 =3000
Px +5P-Px = 3000 *25
P = 15000
Question 9 of 10
9. Question
A person takes a loan of 12000 partly from a bank at 6 % and the remaining from another bank at 10%. He pays a total interest of 1020 after one year. The amount of loan taken from the second bank is?
Correct
Answer: A
Rate of Interest=(1020/12000)*100=17/2=8.5%
Incorrect
Answer: A
Rate of Interest=(1020/12000)*100=17/2=8.5%
Question 10 of 10
10. Question
Rs.6100 was partly invested in scheme at 10% pa Compound interest (Compounded Annually) for 2 years and partly in scheme B at 10%p.a. simple interest for 4 years . Both the schemes earn equal interests. How much was invested in Scheme A?
Correct
Answer: D
X[(1+10/100)^{2} – 1] = [6100 –x] *10*4 /100
X [(110/100) ^{2}-1 ] = (6100-x )*2 /5
X [(121-100) /100 ] =(6100-x)*2 / 5
X*21 /100 = (6100-x)*2/5
21x =244000 -40x
61x = 244000
X=4000
Incorrect
Answer: D
X[(1+10/100)^{2} – 1] = [6100 –x] *10*4 /100
X [(110/100) ^{2}-1 ] = (6100-x )*2 /5
X [(121-100) /100 ] =(6100-x)*2 / 5
X*21 /100 = (6100-x)*2/5
21x =244000 -40x
61x = 244000
X=4000
Click “Start Quiz” to attend these Questions and view Solutions
1)Avinash invested 3400 in each of the two schemes X and Y. Schemes X offers compound interest (compound annually) and Schemes Y offers simple interest. In both the schemes he invested for two years and the rates of interest both the schemes were equal. If the interest Earned by him from the scheme X is 98.26 more than that earned by him from scheme Y, what is the rate of interest (pcpa) of both the sums?
(a).19%
(b).16%
(c).17%
(d).21%
(e).None of these
2)Kavitha took a loan at Rs.15000 from vineeth. It was agreed that for the first three years the rate of interest charged would be at 8% simple interest per annum and at 10% compound interest (compounded annually) from the fourth year onwards. Ram did not pay anything until the end of the fifth year. How much would he has to repay if he clears the entire amount only at the end of the fifth year (in Rupees)
(a).22560
(b)22105
(c)22506
(d)22515
(e).None of these
3)Vicky invested 20000 at 20% Pa., The interest was compounded half- yearly for the first year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?
(a).7040
(b).8060
(c).9040
(d).2650
(e).None of these
4)A person invested P on compound interest at the rate of 10% for 2 years, and invested (p+200) at the rate of 14% for 4 years. The total interest obtained is 5000. Find the total amount (in rupees) invested by the person.
(a).13175.56
(b).13068.42
(c).13597.55
(d).13265.21
(e).None of these
5)If the difference between the amount earned by Elango after 3 years and after 2 years is 865.28 and the principal compounded annually for 3 years at the rate 4% per annum, then What is the investment done by Elango?
(a)25000
(b)22000
(c)20000
(d)23000
(e).None of these
6)A person invested a certain amount at simple interest at the rate of 6% per annum and earned Rs.1350 as interest at the end of three years. Had the interest been compounded every year, how much more interest been compounded every year, How much more interest would he have earned on the same amount at the same rate of interest after three years?
(a).83.82
(b).80
(c).82.62
(d).96
(e).None of these
7)Aman invested in 2 schemes. In schemes A, he invests 8000 at 10% rate of interest and In Scheme B, he invests 1000 at 5% rate of interest. If both compounded annually and no.of years is 3. What will be the difference between the interests?
(a)2365.235
(b)2495.335
(c)2490.375
(d)2495.365
(e)None of these
8)A sum invested at compound interest at a certain rate for 4 years. Had it been put at 5% higher rate, it would have fetched 3000 more. What was the sum invested?
(a).19400
(b).15000
(c).19800
(d). 20600
(e) 20200
9)A person takes a loan of 12000 partly from a bank at 6 % and the remaining from another bank at 10%. He pays a total interest of 1020 after one year. The amount of loan taken from the second bank is?
(a)7500
(b)6500
(c)5000
(d)4500
(e)6000
10)Rs.6100 was partly invested in scheme at 10% pa Compound interest (Compounded Annually) for 2 years and partly in scheme B at 10%p.a. simple interest for 4 years . Both the schemes earn equal interests. How much was invested in Scheme A?