Quantitative Aptitude - Compound Interest
Exam Duration: 60 Mins Total Questions : 30
Sam invested Rs. 15,000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by sam at the end year will be:
- (a)
Rs. 16,500
- (b)
Rs. 16,525.50
- (c)
Rs. 16,537.50
- (d)
Rs. 18,150
- (e)
None of these
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is
- (a)
Rs. 120
- (b)
Rs. 121
- (c)
Rs. 122
- (d)
Rs. 123
Find the compound interest on Rs. 15,625 for 9 months at 16% per annum compounded quarterly.
- (a)
Rs. 1851
- (b)
Rs. 1941
- (c)
Rs. 1951
- (d)
Rs. 1961
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same rate and for the same time?
- (a)
Rs. 51.25
- (b)
Rs. 52
- (c)
Rs. 54.25
- (d)
Rs. 60
The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
- (a)
Rs. 2.50
- (b)
Rs. 3
- (c)
Rs. 3.75
- (d)
Rs. 4
- (e)
None of these
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
- (a)
6%
- (b)
6.5%
- (c)
7%
- (d)
7.5%
The principal that amounts to Rs.4913 in 3 years at \(6{1\over4}\)% per annum compound interest compounded annually, is:
- (a)
Rs. 3096
- (b)
Rs. 4076
- (c)
Rs. 4085
- (d)
Rs. 4096
The present worth of Rs.169 due in 2 years at 4% per annum compound interest is:
- (a)
Rs. 150.50
- (b)
Rs. 154.75
- (c)
Rs. 156.25
- (d)
Rs. 158
In how many years will a sum of Rs. 800 at 10% per annum compounded semiannually become Rs. 926.10?
- (a)
\(1{1\over3}\)
- (b)
\(1{1\over2}\)
- (c)
\(2{1\over3}\)
- (d)
\(2{1\over2}\)
If the compound interest on a sum for 2 years at \(12{1\over2}\)% per annum is Rs. 510, the simple interest on the same sum at the same rate for the same period of time is:
- (a)
Rs.400
- (b)
Rs. 450
- (c)
Rs. 460
- (d)
Rs. 480
The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The Simple interest on the same sum for double the time at half the rate percent per annum is:
- (a)
Rs. 400
- (b)
Rs. 500
- (c)
Rs. 600
- (d)
Rs. 800
The simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
- (a)
Rs. 1550
- (b)
Rs. 1650
- (c)
Rs. 1750
- (d)
Rs. 2000
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
- (a)
625
- (b)
630
- (c)
640
- (d)
650
The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum?
- (a)
Rs. 6000
- (b)
Rs. 8000
- (c)
Rs. 10,000
- (d)
Rs. 12,000
- (e)
None of these
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
- (a)
6.06%
- (b)
6.07%
- (c)
6.08%
- (d)
6.09%
A person lent out a certain sum on simple interest and the same sum on compound interest at a certain rate of interest per annum. He noticed that the ratio between the difference of compound interest and simple interest of 3 years and that of 2 years is 25:8. The rate of interest per annum is :
- (a)
10%
- (b)
11%
- (c)
12%
- (d)
\(12{1\over2}\)%
Mr. Dua invested money in two schemes A and B offering compound interest @ 8 p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two schemes together in two years was Rs.4818.30 and the total amount invested was Rs.27,000, what was the amount invested in scheme A?
- (a)
Rs. 12,000
- (b)
Rs. 13,500
- (c)
Rs. 15,000
- (d)
Cannot be determined
- (e)
None of these
A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:
- (a)
\(2{1\over2}\)%
- (b)
4%
- (c)
5%
- (d)
\(6{2\over3}\)%
A sum of Rs.12,000 deposited at compound interest doubles itself in 5 years. After 20 years, it will become:
- (a)
Rs. 96,000
- (b)
Rs. 1,20,000
- (c)
Rs. 1,24,000
- (d)
Rs. 1,92,000
If sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in:
- (a)
8 years
- (b)
12 years
- (c)
24 years
- (d)
36 years
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
- (a)
3
- (b)
4
- (c)
5
- (d)
6
What annual payment will discharge a debt of Rs.1025 due in 2 years at the rate of 5% compound interest?
- (a)
Rs. 550
- (b)
Rs. 551.25
- (c)
Rs. 560
- (d)
Rs. 560.75
A sum of money is borrowed and paid back in two annual instalments of Rs.882 each allowing 5% compound interest. The sum borrowed was:
- (a)
Rs. 1620
- (b)
Rs. 1640
- (c)
Rs. 1680
- (d)
Rs. 1700
The difference between the compound interest and the simple interest earned on a sum of money at the end of 4 years is Rs. 256.40. To find out the sum, which of the following informations given in the statements P and Q is/are necessary?
P: Amount of simple interest accrued after 4 years.
Q: Rate of interest per annum.
- (a)
Only P is necessary
- (b)
Only Q is necessary
- (c)
Either P or Q is necessary
- (d)
Neither P nor Q is necessary
- (e)
Both P and Q are necessary
The questions given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is/are sufficient to answer the given question. Read both the statements
What is the rate of compound interest?
I. The principal was invested for 4 years.
II. The earned interest was Rs.1491.
- (a)
If the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
If the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
If the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
If the data even in both Statements I and II together are not sufficient to answer the question
- (e)
If the data in both statements I and II together are necessary to answer the question.
The questions given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is/are sufficient to answer the given question. Read both the statements
What will be the compounded amount?
I. Rs. 200 were borrowed for 192 months at 6% compounded annually.
II. Rs. 200 were borrowed for 16 years at 6%.
- (a)
If the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
If the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
If the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
If the data even in both Statements I and II together are not sufficient to answer the question
- (e)
If the data in both statements I and II together are necessary to answer the question.
The questions given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is/are sufficient to answer the given question. Read both the statements
What is the total compound interest accrued on a sum of money after 5 years?
I. The sum was Rs.20,000
II. The total amount of simple interest on the sum after 5 years was Rs.4000.
- (a)
If the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
If the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
If the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
If the data even in both Statements I and II together are not sufficient to answer the question
- (e)
If the data in both statements I and II together are necessary to answer the question.
The questions given below consists of a statement and/or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is/are sufficient to answer the given question. Read both the statements
What was the rate of interest on a sum of money?
I. The sum fetched a total of Rs.2522 as compound interest at the end of 3 years.
II. The difference between the simple interest and the compound interest at the end of 2 years at the same rate was Rs.40.
- (a)
If the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
If the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
If the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
If the data even in both Statements I and II together are not sufficient to answer the question
- (e)
If the data in both statements I and II together are necessary to answer the question.
The questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question:
What is the rate of interest p.c.p.a?
I. An amount doubles itself in 5 years on simple interested.
II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs.400
III. Simple interest earned per annum is Rs.2000.
- (a)
I only
- (b)
II and III only
- (c)
All I, II and III
- (d)
Any two of the three
- (e)
I only or II and III only
The questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question:
A sum of money is put at compound interest. What is the rate of interest?
I. The sum amounts to Rs. 5290 in 2 years.
II. The sum amounts to Rs. 6083.50 in 3 years.
III. The sum is Rs. 4000.
- (a)
I and II only
- (b)
II and III only
- (c)
I and III only
- (d)
Any two of the three
- (e)
I and III only, or II and III only