Quantitative Aptitude Questions (SI and CI) Day-67

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1. A person invested Rs 28000 at a simple interest rate of 8% per annum in such a way that his two sons Amit and Rakesh whose ages are 13 years and 14 years respectively will receive equal amount of money when they attain the age of 21 years. What is the share of Amit?

a) 7255

b) 11753

c) 73220

d) 20500

e) 13650

2. Ankit invested a total of Rs 10000 in two schemes A and B. Out of the total money he invested certain amount in scheme A which offers simple interest at the rate of 8% per annum for 2 years and the remaining amount in scheme B which offers interest at the rate of 12% per annum for 2 years. At the end of 2 years he found that the interest received from scheme B is Rs 340 more than the interest received from scheme A then find his investment in scheme B?

a) 7255

b) 4850

c) 7322

d) 2050

e) 6475

3. Simple interest received on a certain sum at an interest rate of 12% per annum after 2 years is Rs 852 then find the amount of compound interest that will be received on the same amount of money at the rate 8% per annum after 1 year when the interest is being calculated half yearly?

a) 725.56

b) 117.12

c) 289.68

d) 205.63

e) 647.52

4. An amount at the rate of 10% per annum becomes Rs 150 more at compound interest than that of simple interest after 4 years. What is the principal?

a) 7255

b) 1175

c) 7322

d) 2340

e) 6475

5. The difference between the amount of compound interest and simple interest received on a sum of Rs 25000 after 2 years is Rs 640 then what is the rate of interest?

a) 12

b) 11

c) 13

d) 20

e) 16

6. A sum of money becomes Rs 13400 in 5 years and 18500 in 8 years at the same rate of interest then what is the approximate rate of interest?

a) 25

b) 20

c) 32

d) 35

e) 47

7. A person invested Rs 25500 in two schemes A and B which offers interest at the rate of 5% and 12% per annum respectively. If the total interest received by the person from these schemes is Rs 2295 then find the part of money invested in scheme B? (Approximately)

a) 9800

b) 11753

c) 13220

d) 20500

e) 14571

8. Mohit will receive Rs 760 more as interest after 2 years at 20% rate of interest when the interest is being calculated half yearly than it is being calculated yearly. What is the approximate sum invested by Mohit?

a) 25520

b) 11753

c) 31535

d) 20500

e) 15641

9. Ravish has Rs 45000 with him. He wanted to invest in two schemes P and Q which offers interest at the rate of 5% and 8% respectively in such a way that the interest received after 2 years from scheme P is Rs 400 more than the interest received from scheme Q after 2 years then find the approximate sum to be invested in scheme P?

a) 29230

b) 11753

c) 23220

d) 20500

e) 26475

10.  Rohit invested Rs 19500 in a bank which offers interest at a rate of 7% per annum for 5 years but due to urgent need he withdrew his investment after 3 years then find the amount he received after 3 years if the bank charges Rs 840 as penalty for early withdrawal?

a) 24555

b) 21753

c) 23220

d) 20500

e) 22755

Answers:

1. Ans e

Let the share of Rakesh be x

Amit’s share= (28000-x)

= (28000- x) + (28000-x)*8*8/100 = x + x*8*7/100

= (28000-x) + 1792000-64x/100= x+56x/100

= 2800000-100x+1792000-64x/100= 156x/100

= 4592000- 164x/100= 156x/100

= 4592000-164x= 156x

= 320x= 4592000

= x= 14350

Share of Amit= 28000-14350= Rs 13650

2. Ans b

Let the amount invested by Ankit in scheme A be x

Scheme B= 10000-x

Now,

=> (10000-x)*12*2/100- x *8*2/100 = 340

=> 240000- 24x/100 – 16x/100 = 340

=> 240000 – 40x/100= 340

=> 240000- 40x= 34000

=> 240000-34000= 40x

=> 40x= 206000

=> x= 206000/40

=> x= 5150

Investment in scheme B= 10000-5150= Rs 4850

3. Ans c

Let the sum of money invested be x

Now,

=> 852= x*12*2/100

=> 852*100= 24x

=> x= 852*100/24

=> x= 3550

Compound interest on same amount of sum when interest is calculated half yearly

C.I= P {(1+r/100) ⁿ -1)}

C.I= 3550{(1+4/100)² – 1}

C.I= 3550*51/625

C.I= Rs 289.68

4. Ans d

Let the principal be x

Amount in simple interest

= x+ x*10*4/100

= x+ 2x/5= 7x/5

Amount in compound Interest

= x+ x{(1+10/100)⁴ -1}

= x+ 4641x/10000

= 14641x/ 10000

So,

=> 14641x/10000 – 7x/5= 150

=> 14641x- 14000x/10000= 150

=> 641x= 1500000

=> x= 1500000/641

=> x= Rs 2340

5. Ans e

We know that,

Difference between SI and CI= PR²/ (100)²

640= 25000*r²/10000

6400000/25000= r²

r²= 256

r= 16%

6. Ans d

Interest for 3 years= 18500-13400= Rs 5100

Interest for 5 years = 5100*5/3= Rs 8500

Sum of money invested= 13400-8500= Rs 4900

Rate of interest= 8500*100/5*4900= 35%

7. Ans e

Mean rate of interest= 2295*100/25500 = 9%

By the rule of allegation

Ratio between investment in two schemes= 3:4

Amount invested in scheme B= 4*25500/7= Rs 14571

8. Ans c

Let the sum of money invested be x

CI in two years compounded annually

= x {(1+ 20/100)² – 1)}

= x {36/25 -1)}

= 11x/ 25

Interest is being calculated half yearly

= x{(1+10/100)⁴ – 1)}

= x{14641-10000/10000}

= 4641x/10000

Now,

4641x/10000 – 11x/25= 760

4641x-4400x/10000= 760

241x= 7600000

x= Rs 31535

9. Ans a

Let the sum to be invested in scheme P be x

Scheme Q= 45000-x

Now,

x*5*2/100= (45000-x)*8*2/100+400

x/10 = (720000- 16x)/100 + 400

26x/100= 7200+400= 7600

x= Rs 29230

10. Ans e

SI interest for 3 years = 19500*7*3/100= Rs 4095

Amount to be received at the end of three years

= 19500+4095-840 = Rs 22755

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