Most aspirants are unlikely to disagree with the fact that it’s quantitative ability that is pivotal in most of the competitive examinations. In recent times it has got more prominence considering the fact that the cut-off has grown exponentially and it’s Mathematics that can help you secure the maximum marks provided correct approach and strategies are applied.
We make our best efforts to analyze and segregate those questions which are either based on new patterns or frequently repeated in last few years. Sincere efforts are required to be made to make sure these sums are solved within stipulated time because time management plays vital role in any exam particularly in Banking exams. There is prominent evidence to suggest that only precise strategies together with practicing relevant sums can help you break the cut-off barrier.
In other words, it’s not only how you solve but what you solve too can be deciding factor, that’s why we have attached some of the most prominent questions of Simple and compound interest . Feel free to clarify, if you have any query, your inputs are always welcome.
6 1/4% simple interest per annum, then the required time will be
(a)12 ½ years
(b) 8 years
(c)10 2/3 years
(d) 16 years
(e) None of these
2 . R took a loan of Rs 1200 with simple interest for as many years as the rate of the interest. If she paid rs 432 as interest at the end of the loan period, what was the rate of the interest?
A) 3.6
B) 6
C) 18
D) Cannot be determined
E) None of these
3. A certain sum will amount of `12,100 in 2 years at 10% per
annum off compound interest, interest being compounded
annually. The sum is:
(a) ` 12000
(b) `6000
(c) ` 8000
(d) `10000
(e) None of these
4. A sum of ` 725 is lent in the beginning of a year at a certain
rate of interest. After 8 months, a sum of ` 362.50 more is
lent but at the rate twice the former. At the end of the year,
` 33.50 is earned as interest from both the loans. What was
the original rate of interest?
(a) 3.6%
(b) 4.5%
(c) 5%
(d) 3.46%
(e) None of these
5.The difference between compound interest and simple
interest on a sum for 2 years at 10% per annum, when the
interest is compounded annually is ` 16. If the interest were
compounded half-yearly, the difference in two interests
would be:
(a) ` 24.81
(b) ` 26.90
(c) ` 31.61
(d) ` 32.40
(e) None of these
6.A person lent out a certain sum on simple interest and the
same sum on compound interest at 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 1/2%
(e) None of these
7.A sum of money at simple interest amounts to `5852 in
3 years and `7788 in 7 years. What is the rate of interest per
annum?
(a) 8%
(b) 9%
(c) 10%
(d) 11%
(e) 12%
8.The simple interest accrued on an amount of ` 22,500 at the
end of four years is ` 10,800. What would be the compound
interest accrued on the same amount at the same rate at the
end of two years ?
(a) ` 16,908
(b) ` 5,724
(c) ` 28,224
(d) ` 8,586
(e) None of these
9.The compound interest earned by S on a certain amount
at the end of two years at the rate of 8 p.c.p.a. was `1,414.40.
What was the total amount that S got back at the end
of two years in the form of principal plus interest earned?
(a) ` 9,414.40
(b) ` 9,914.40
(c) ` 9,014.40
(d) ` 8,914.40
(e) None of these
10. Soni invested an amount of ` 5800 for 2 years. At what
rate of compound interest will she get an amount of ` 594.50
at the end of two years?
(a) 5 pcpa
(b) 4 pcpa
(c) 6 pcpa
(d) 8 pcpa
(e) None of these
Answer
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