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Simple and Compound Interest ( 11 to 15 ):
APTITUDE QUESTIONS (SIMPLE AND COMPOUND INTEREST):
11. At what rate of compound interest per annum will a sum of Rs.1200 become Rs.1348.32 in 2 years?
A) 7%
B) 7.5%
C) 6.5%
D) 6%
E) None of these
View Answer
Answer: option (D)
Explanation:
Let the rate be R% p.a. Then,
1200 * (1 + R/100)2 = 1348.32
(1 + R/100)2 = (106/100)2 or 1 + R/100 = 106/100 or R = 6%
12. If Rs.54 amounts to Rs.70.20 in 2 years, what will Rs.66 amount to in 4 years at the same rate % p.a?
A) 80
B) 124.70
C) 127.40
D) 137.60
E) None of these
View Answer
Answer: option (E)
Explanation:
P = Rs.54, S.I. = Rs. (70.20 – 54) = Rs.16.20, T = 2
So, rate = (100 * 16.20 / 54 * 2) % = 15%
Now, P = Rs.66, R = 15%, T= 4
Therefore, S.I. = Rs. (66 * 15 * 4 / 100) = Rs.39.60
13. The interest on a certain deposit at 5% p.a. is Rs.102.50 in 2 year. For the same deposit at 5.5% p.a. what will be the additional interest for 2 year?
A) Rs.20.25
B) Rs.10.25
C) Rs.25
D) Rs.42.50
E) None of these
View Answer
Answer: option (B)
Explanation:
S.I. = Rs.102.50, R = 5%, T = 2 year
P = Rs. (100 * 102.50 / 5 * 2) = Rs.1025
Now, P = Rs.1025, R = 5.5%, T = 2 year
S.I. = Rs. (1025 * 5.5 * 2 / 100) = Rs.112.75
Therefore, difference in interest = Rs. (112.75 – 102.50) = Rs.10.25
14. What will be the compound interest on a sum of Rs.50000 after 3 years at the rate of 10% p.a.?
A) Rs.9500
B) Rs.10500
C) Rs.16550
D) Rs.17000
E) None of these
View Answer
Answer: option (C)
Explanation:
Amount = Rs. [50000 * (1 + 10/100)3] = Rs. 50000 * 11/10 *11/10 *11/10 = Rs.66550
Therefore, C.I. = Rs. (66550 – 50000) = Rs.16550
15. The compound interest on a certain sum for 2 years at 10% per annum is Rs.546. What will be the simple interest on the same sum for double the time and at half the rate percent per annum is?
A) Rs.400
B) Rs.520
C) Rs.620
D) Rs.800
E) None of these
View Answer
Answer: option (B)
Explanation:
= [P (1 + 10/100)2 – P] = 546
= P [(11/10)2 – 1] = 546
P = (546 * 100 / 21) = 2600
Therefore, Sum = Rs.2600
So, S.I. = Rs. (2600 * 5 * 4 / 100) = Rs.520