IMPORTANT QUESTIONS OF SIMPLE INTEREST AND COMPOUND INTEREST

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 Simple Interest and Compound Interest of . Feel free to clarify, if you have any query, your inputs are always welcome.

 

 

  1. A sum of ` 2200 is invested at two different rates of interest.

The difference between the interests got after

4 years is ` 202.40. What is the difference between the rates

of interest ?

(a) 3.3%

(b) 2.3%

(c) 3.5%

(d) 2.5%

(e) None of these

 

2. The simple interest accrued on an amount of ` 16,500 at the

end of three years is ` 5,940. What would be the compound

interest accrued on the same amount at the same rate in the

same period? (rounded off to two digits after decimal)

 

(a) ` 6681.31

(b) ` 6218.27

(c) ` 6754.82

(d) ` 6537.47

(e) None of these

 

3. The compound interest earned on a sum is 3 years at 15%

per annum compounded annually is ` 6500.52. What is the

sum?

(a) ` 12480

(b) ` 10500

(c) ` 14800

(d) ` 13620

(e) None of these

 

4. The simple interest accrued on a sum of certain principal in

8 yr at the rate of 13% per year is ` 6500. What would be

the compound interest accrued on that principal at the rate

of 8% per year in 2 yr?

(a) ` 1040

(b) ` 1020

(c) ` 1060

(d) ` 1200

(e) None of these

 

 

5.  In a certain year, the population of a certain town was 9000.

If in the next year the population of males increases by 5%

and that of the females by 8% and the total population

increases to 9600, then what was the ratio of population of

males and females in that given year?

(a) 4:5

(b) 5:4

(c) 2:3

(d) Data inadequate

(e) None of these

 

6. An amount of ` 1,00,000 is invested in two types of shares.

The first yields an interest of 9% p.a. and the second, 11%

p.a. If the total interest at the end of one year is 9 ¾% , then

the amount invested in each share was:

(a) ` 52,500; ` 47,500

(b) ` 62, 500; ` 37,500

(c) ` 72,500: ` 27,500

(d) ` 82, 500; ` 17,500

(e) None of these

 

7.A person invested in all ` 2600 at 4%, 6% and 8% per annum

simple interest. At the end of the year, he got the same interest

in all the three cases. The money invested at 4% is:

 

(a) ` 200

(b) ` 600

(c) ` 800

(d) ` 1200

(e) None of these

 

8.A sum of money becomes eight times in 3 years if the rate is

compounded annually. In how much time, the same amount

at the same compound interest rate will become sixteen times ?

(a) 6 years

(b) 4 years

(c) 8 years

(d) 5 years

(e) None of these

 

9.  If the compound interest on a certain sum of money for

3 years at 10% p.a. be ` 993, what would be the simple

interest ?

(a) ` 800

(b) ` 950

(c) ` 900

(d) ` 1000

(e) None of these

 

10.The population of a town increases by 5% every year. If the

present population is 9261, the population 3 years ago was

(a) 5700

(b) 6000

(c) 7500

(d) 8000

(e) None of these

 

 

Answer

  1. (b)
  2. (a)
  3. (a)
  4. (a)
  5. (a)
  6. (b)
  7. (d)
  8. (b)
  9. (c)
  10. (d)


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