Quant Questions – Simple Interest & Compound Interest Set-2

Dear Readers, Important Practice Aptitude Questions with solution for Upcoming SBI Clerk Exam, candidates those who are preparing for those exams can use this practice questions.

1).Rs. 58,750 amounts to Rs. 79,900 in four years at simple interest. What is the rate of interest paid?

2).How much will a sum of Rs.12,0007 deposited at a rate of 9% per annum (simple interest) for 13 years amount to ?

3).The simple interest accrued in 2 years on a principal of Rs.24000 is one-eighth of the principal. What is the rate of simple interest p.c.p.a?

4).Mr.Phanse invests an amount of Rs.24,200 at the rate of 4 p.c.p.a for 6 years to obtain a simple interest. Later he invests the principal amount as well as the amount obtained as simple interest for another 4 years at the same rate of interest. What amount of simple interest will he obtain as the end of the last 4 years?

5).In how many years will Rs. 4400 amount to Rs. 5984 at 4 p.c.p.a simple interest?

6).What would be the compound interest obtained on an amount of Rs. 7,790 at the rate of 10 p.c.p.a. after two years?

7).What is the difference between the simple and compound interest earned from a sum of Rs.13,033 at a rate of 13 percent per annum for a period of 3 years (rounded off to 2 digits after decimal)?

8).How much will a sum of Rs.7,250 amount to in a span of 2 years, at 6 p.c.p.a rate of compound interest (Rounded off to the nearest integer)?

9).A sum of Rs.3200 becomes Rs.3456 in two years at a certain rate of simple interest. What is the rate of interest per annum?

10).A sum of Rs.2200 is invested at two different rates of interest. The difference between the interests got after 4 years is Rs.202.40. What is the difference between the rates of interest?

1).S.I = 79900 – 58750 = Rs.21150

We know S.I = (P×R×T)/100

Rate = [(S.I × 100)] / [(Principal × Time)]

= (21150 × 100) / (58750 × 4)= 9% per annum

2).S.I = (12000 × 9 × 13)/ 100

= Rs. 14040

:. Amount = 12000 ÷ 14040 = Rs. 26040

3).S.I = (1/8) × principle

= (1/8) × 24000

= Rs. 3000

:. Rate= (S.I × 100) / (Principal × Time)

= (3000 × 100) / (24000×2)

= 6.25% per annum

4).CASE: I

S.I = (P×R×T)/100

= Rs. [(24200×4×6)/100]

=Rs. 5808

:. Amount = Principal + SI

= Rs. (24200 + 5808) = Rs. 30008

CASE: II

S.I= Rs. [(30008×4×4)/100]

= Rs. 4801.28

5).S.I = 5984 – 4400 = 1584

Time= (S.I × 100)/ (Principal × Rate)

= (1584 × 100) / (4400 × 4)

= Rs. 9

6).C.I = P [1 + (R/100)]^T – P

à C.I = P {[1 + (R/100)]^T – 1}

à C.I = 7790 [1 + (10/100)]²– 1

= 7790 [(121/100)-1]

= (7790 × 21)/100

= Rs. 1635.9

7).S.I = (13033 × 13 × 3)/100

= Rs. 508.17

C.I = 13033 [1 + (13/100)]³ – 1

= 13033 × 0.44 = Rs. 5772.28

Difference = 5772.28 – 508.17

= Rs. 5264.11

8).A= P [1 + (R/100)]^T

= 7250 [1 + (6/100)]²

= 7250 × (1.06)²

= Approx.  Rs.8146

9).Interest = 3456 – 3200 = Rs. 256

:. Rate = (S.I × 100) / (Principal × Time)

= (256 × 100) / (3200×2)

= 4% per annum

10).If the rates of interest be r₁ and r₂% per annum, then

[2200 × 4(r₁– r₂)] / 100 = 202.40

à r₁– r₂= (202.40 × 100) / (2200 × 4)

=2.3% per annum