Quantitative Aptitude Questions (Compound Interest) Day-61

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Practice Aptitude Questions (Compound Interest) Day-61

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1) The compound interest on a certain sum at 20 % per annum for 3 years is Rs. 1456. The simple interest on the same sum for double the time at half the rate percent per annum is:

  1. Rs. 1500
  2. Rs. 1200
  3. Rs. 1300
  4. Rs. 1400
  5. None of these

2) What total will be amount to Rs. 51516 at compound interest in 2 years, the rate of interest for 1st& 2nd year being 6% and 8% respectively?

  1. Rs. 35000
  2. Rs. 40000
  3. Rs. 38000
  4. Rs. 45000
  5. None of these

3) Kumar wants to take Rs. 45000 at rate of interest 4% p.a. at S.I and lend the same amount at C.I at same rate of interest for two years. What would be his profit in the above transaction?

  1. Rs. 72
  2. Rs. 68
  3. Rs. 54
  4. Rs. 83
  5. None of these

4) A sum of money for the first two years at a rate of interest is 7% p.a., for the next two years it is 8% p.a. and 9% p.a. for the period exceeding four year; all at simple interest. If a person earns an interest of Rs. 15180 by the end of the 8 years, what is the amount at the end of the period of investment? 

  1. Rs. 28920
  2. Rs. 32140
  3. Rs. 38180
  4. Rs. 41160
  5. None of these

5) The difference between simple and compound interests together annually on a certain sum for 2 year at 5% per annum is Rs 4. Find the sum?

  1. Rs. 2400
  2. Rs. 1600
  3. Rs. 1250
  4. Rs. 1800
  5. None of these

6) If Rs.18000 amounts to 22579.20 in 2 yrs compounded annually, then find the rate of interest per annum?

  1. 8 %
  2. 10 %
  3. 14 %
  4. 12 %
  5. None of these

7) A certain national bank offers 20 % interest rate compounded annually. Selvi deposits Rs. 35000 every year in his account. If she does not withdraw any amount, then how much balances will his account show after four year?

  1. Rs. 225456
  2. Rs. 198734
  3. Rs. 267348
  4. Rs. 174562
  5. None of these

8) Find the CI on 6 months on Rs.12350 at 12% per annum compounded quarterly.

  1. 756.114
  2. 752.115
  3. 751.674
  4. 753.118
  5. None of these

9) The sum that amounts to Rs. 2704 in 2 yrs at 4% per annum CI compounded annually is,

  1. 2200
  2. 3200
  3. 2500
  4. 2800
  5. None of these
  1. Aswin invested Rs.4000 in a fixed deposit scheme for 2 years at CI rate 10% per annum. How much amount will Aswin get on maturity of the fixed deposit?
  1. 4730
  2. 4690
  3. 4840
  4. 4880
  5. None of these

Answers:

1) Answer: b

Let the sum be Rs. P.

[P(1+R/100)3-P]=1456

[P(1+20/100)3-P]=1456

[P(12/10)3-P]=1456

P[(12/10)3-1]=1456

P[(1728/1000)-1]=1456

P[728/1000]=1456

P=1456000/728 =2000

SI=PNR/100

=2000*6*10/100

= 1200

2) Answer:d

Let Rs. P be the required sum.

51516 = P (1 + 6/100) (1 + 8/100)

51516 =P (106/100) (108/100)

51516*(100/106)*(100/108) = P

P= 45000

Hence the required amount is Rs. 45000

3) Answer:a

Amount of money Kumar taken at S.I at 4% p.a. for two years = Rs.45000

He lend the same amount for C.I at 4% p.a. for two years

Kumar’s income = C.I – S.I

= p [1 + r/ 100]n – p – [pnr/100]

= p {[1 + r/ 100]2 – 1} – [pnr/100

= 45000{[1+ (4/100)]2-1}-[45000*2*4/100]

= 45000{[104/100]2-1}- 3600

= 45000{[26/25)2 – 1} – 3600

= 45000[676/625 – 1} – 3600

= 3672 – 3600

= Rs.72

4) Answer:c

Let the principal be x

According to the question,

X*7*2/100 +X*8*2/100 +X*9*4/100 = 15180

14X/100 + 16X/100+36X/100 = 15180

66X/100 = 15180

66X = 1518000

X =23000

Total amount end of the period = 15180 + 23000

= Rs. 38180

5) Answer:b

The difference between S.I and C.I together on a certain sum for 2 years is,

Diff = Sum*(r/100)2

4 = Sum*(5/100)2

4*25/(100*100) = Sum

Sum = Rs. 1600

6) Answer:d

Given P = Rs.18000

Amount = 22579.20

n = 2years

Let the rate be R% per annum. Then

[18000(1+R/100)2] = 22579.20

(1+R/100)2 = 18000 / 22579.20

(1+R/100)2 = (28/25)2

1+R/100 = 28/25

(100+R)/100 = 28/25

100+R = 2800/25

100+R = 112

R = 12 %

7) Answer:a

For the 1st year interest will be,
= > 35000*(20/100) = Rs. 7000
35000+7000+35000 = 77000
= > 77000*(20/100) = 15400
77000+ 15400+ 35000 = 127400
= > 127400*(20/100) = 25480
127400 + 25480 + 35000 = 187880
= > 187880*(20/100) = 37576
187880 + 37576 = Rs. 225456

8) Answer:b

Given P = Rs.12350;   n=6 months = 2 quarters

R=3% per quarter

Amount = Rs [p(1+R/100)n]

=Rs. [12350(1+3/100)2]

=Rs. [12350(103/100)2]

=Rs. [12350*103/100*103/100]

=Rs. (12350*1.03*1.03)

=Rs.13102.115

Compound interest = amount – principal

=Rs. (13102.115 – 12350)

=Rs. 752.115

(or)

12350*(3/100) = Rs. 370.5

12720.5*(3/100) = Rs. 381.615

C.I = 370.5 + 381.615 = Rs. 752.115

 

9) Answer:c

Amount = P(1+r/100)n

2704 = P(1+4/100)2

P = Rs [2704/ (1+4/100)2]

P =Rs. (2704 / (104/100)2]

P =Rs. (2704 *(100/104) * (100/104)]

P =Rs. (27040000/10816)

P =Rs. 2500

10) Answer:c

Amount = P (1+R/100)n

=4000(1+10/100)2

=4000(110/100)2

=4000*110/100*110/100

=40*11*11

=Rs.4840

Hence the required answer is Rs. 4840

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