Simple and Compound Interest Aptitude Questions

Simple and Compound Interest Aptitude Questions

Simple and Compound Interest is a topic in the Quantitative section of the Aptitude exam. Questions in this section are framed in a confusing way. So, make sure that you practice different level of questions in order to have flexibility while solving problems related to this concept.

Important topics covered in this section are,Simple Interest , Different Interest rates for different years, Two schemes with different rate of interest etc. To make your preparation easy we have compiled the most important 20 questions from this topic. Make sure you dedicate considerable time to solve these questions with integrity.

We assume that you have completed Problems on Trains practice before coming to this page if not make sure you solve questions from Problems on Trains. Second, after you complete this section solve questions from 2D and 3D Geometry  Questions.

If you are already thorough with all the concepts of quantitative aptitude then move on to reasoning ability and verbal ability. 

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Q1

Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years, and the rate of 14% p.a. for the period beyond five years. If he pays a total interest of Rs. 11,400 at the end of nine years, how much money did he borrow?

Level 2 Simple Interest Different Interest rates for different years
A

12000

B

12400

C

1200

D

1240

Q2

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at \(6\frac{1}{4}percent\) p.a. for 2 years. Find the gain in the transaction per year.

Level 1 Simple Interest Two schemes with different rate of interest
A

Rs. 112.50

B

Rs. 125

C

Rs. 150

D

Rs. 167.50

Q3

A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

Level 1 Simple Interest Basic Formulae Based Questions
A

Rs. 2,000

B

Rs. 10,000

C

Rs. 15,000

D

Rs. 20,000

Q4

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

Level 1 Simple Interest Basic Formulae Based Questions
A

3.5 years

B

4 years

C

4.5 years

D

5 years

Q5

A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a in 5 years. What is the sum?

Level 1 Simple Interest Basic Formulae Based Questions
A

Rs. 4462.50

B

Rs. 8032.50

C

Rs. 8900

D

Rs. 8925

E

none of these

Q6

A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?

Level 2 Simple Interest Different Interest rates for different years
A

Rs. 35

B

Rs. 245

C

Rs. 350

D

Cannot be determined

E

None of these

Q7

A lends Rs. 2500 to B and a certain sum to C at the same time at 7% p.a. simple interest. If after 4 years, A altogether receives Rs. 1120 as interest from B and C, then the sum lent to C is:

Level 2 Simple Interest Two schemes with different rate of interest
A

Rs. 700

B

Rs. 1500

C

Rs. 4000

D

Rs. 6500

Q8

An amount of Rs. 100000 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 \(9\frac{3}{4}\)%, then the amount invested in each share was:

Level 2 Simple Interest Two schemes with different rate of interest
A

Rs. 52500; Rs. 47500

B

Rs. 62500; Rs. 37500

C

Rs. 72500; Rs. 27500

D

Rs. 82500; Rs. 17500

Q9

Ramakant invested amounts in two different schemes A and B for five years in the ratio of 5 : 4 respectively. Scheme A offers 8% simple interest and bonus equal to 20% of the amount of interest earned in 5 years on maturity. Scheme B offers 9% simple interest. If the amount invested in scheme A was Rs.20000, what was the total amount received on maturity from both the schemes?

Level 3 Simple Interest Two schemes with different rate of interest
A

Rs.50800

B

Rs.51200

C

Rs.52800

D

Rs.58200

Q10

A computer is available for Rs.39000 cash or Rs.17000 as cash down payment followed by five monthly installments of Rs.4800 each. What is the rate of interest under the installment plan?

Level 3 Simple Interest Miscellaneous Questions
A

35.71% p.a.

B

36.71% p.a.

C

37.71% p.a.

D

38.71% p.a.

Q11

Find the compound interest on Rs. 10000 in 2 years at 4% per annum, the interest being compounded half-yearly.

Level 1 Compound Interest Basic Formulae Based Questions
A
Rs. 825.82
B

Rs. 636.80

C

Rs. 824.32

D

Rs. 912.86

Q12

Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

Level 1 Compound Interest Basic Formulae Based Questions
A

Rs. 8600

B

Rs. 8620

C

Rs. 8800

D

Rs. 8840

E

none of these

Q13

What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years?

Level 1 Compound Interest Difference between simple and compound interest
A

Rs. 31

B

Rs. 32.10

C

Rs. 40.40

D

Rs. 64.10

E

None of these

Q14

The difference between the simple interest on certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.50. What is the principal sum?

Level 1 Compound Interest Difference between simple and compound interest
A

Rs. 6000

B

Rs. 8000

C

Rs. 10000

D

Rs. 12000

E

none of these

Q15

What is the rate of interest p.c.p.a.?

I. The amount doubles itself on simple interest in 10 years.

II. Compound interest on any amount in 2 years is more than the simple interest in 2 years by an amount equal to 1% of the principal amount.

Level 2 Compound Interest Correlation between simple and compound interest
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

Q16

The sum of money which when given on compound interest at 18% per annnum would fetch Rs.960 more when the interest is payable half yearly than when it was payable annually for 2 years is

Level 3 Compound Interest
A

Rs.60,000

B

Rs.30,000

C

Rs.40,000

D

Rs.50,000

Q17

A taperecorder is sold for Rs.3500 cash, or Rs.1000 cash down payment and the balance in three equal easy installments. If 12\(\frac{1}{2}\)% is the rate of interest compounded annually, find the amount of installment.

Level 2 Compound Interest Basic Formulae Based Questions
A

Rs.1000.35

B

Rs.1049.83

C

Rs.1050.65

D

Rs.1100.43

Q18

Under the Rural Housing Scheme, the Delhi Development Authority (DDA) allotted a house to Kamal Raj for Rs.1,26,100. This payment is to be made in three equal annual instalments. If the money is reckoned at 5% per annum compound interest, then how much is to be paid by Kamal Raj in each installments?

Level 2 Compound Interest Basic Formulae Based Questions
A

Rs.45205

B

Rs.46305

C

Rs.47405

D

Rs.48505

Q19

One can purchase a flat from a house building society for Rs.55000 cash or on the terms that he should pay Rs.4275 as cash down payment and the rest in three equal installments. The society charges interest at the rate of 16% per annum compounded half-yearly. If the flat is purchased under installment plan, find the value of each installment.

Level 3 Compound Interest Basic Formulae Based Questions
A

Rs.18756

B

Rs.19292

C

Rs.19683

D

Rs.20285

Q20

The sum of money which when given on compound interest at 18% per annnum would fetch Rs.960 more when the interest is payable half yearly than when it was payable annually for 2 years is

Level 3 Compound Interest
A

Rs.60,000

B

Rs.30,000

C

Rs.40,000

D

Rs.50,000

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