Dear Readers, SBI is conducting Online preliminary Examination for the recruitment of Clerical Cadre. preliminary Examination ofSBI Clerk was scheduled from June/July. To enrich your preparation here we have providing new series of Compound Interest- Quantitative Aptitude Questions. Candidates those who are appearing in SBI Clerk Prelims Exam can practice these Quantitative Aptitude average questions daily and make your preparation effective.
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Practice Aptitude Questions (Compound Interest) Day-61
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Question 1 of 10
1. Question
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:
Correct
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
Incorrect
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
Question 2 of 10
2. Question
What total will be amount to Rs. 51516 at compound interest in 2 years, the rate of interest for 1^{st}& 2nd year being 6% and 8% respectively?
Correct
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
Incorrect
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
Question 3 of 10
3. Question
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?
Correct
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
Incorrect
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
Question 4 of 10
4. Question
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?
Correct
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
Incorrect
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
Question 5 of 10
5. Question
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?
Correct
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
Incorrect
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
Question 6 of 10
6. Question
If Rs.18000 amounts to 22579.20 in 2 yrs compounded annually, then find the rate of interest per annum?
Correct
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 %
Incorrect
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 %
Question 7 of 10
7. Question
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?
Correct
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
Incorrect
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
Question 8 of 10
8. Question
Find the CI on 6 months on Rs.12350 at 12% per annum compounded quarterly.
Correct
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.13102.11
Compound interest = amount – principal
=Rs. (13102.11 – 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
Incorrect
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.13102.11
Compound interest = amount – principal
=Rs. (13102.11 – 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
Question 9 of 10
9. Question
The sum that amounts to Rs. 2704 in 2 yrs at 4% per annum CI compounded annually is,
Correct
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
Incorrect
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
Question 10 of 10
10. Question
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?
Correct
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
Incorrect
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
Click “Start Quiz” to attend these Questions and view Solutions
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:
Rs. 1500
Rs. 1200
Rs. 1300
Rs. 1400
None of these
2) What total will be amount to Rs. 51516 at compound interest in 2 years, the rate of interest for 1^{st}& 2nd year being 6% and 8% respectively?
Rs. 35000
Rs. 40000
Rs. 38000
Rs. 45000
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?
Rs. 72
Rs. 68
Rs. 54
Rs. 83
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?
Rs. 28920
Rs. 32140
Rs. 38180
Rs. 41160
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?
Rs. 2400
Rs. 1600
Rs. 1250
Rs. 1800
None of these
6) If Rs.18000 amounts to 22579.20 in 2 yrs compounded annually, then find the rate of interest per annum?
8 %
10 %
14 %
12 %
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?
Rs. 225456
Rs. 198734
Rs. 267348
Rs. 174562
None of these
8) Find the CI on 6 months on Rs.12350 at 12% per annum compounded quarterly.
756.114
752.115
751.674
753.118
None of these
9) The sum that amounts to Rs. 2704 in 2 yrs at 4% per annum CI compounded annually is,
2200
3200
2500
2800
None of these
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?