Simple and Compound Interest Problems Downloaded From : https

Simple and Compound Interest Problems
1. At a certain rate of compound interest, Rs. 15,320 becomes Rs. 30,640 in 6 years. What is the rate of interest? (1) 12.00% (2) 13.00% (3) 14.00% (4) 11.00% Correct answer : (1) Explanation: Let the rate of interest be r.
Amount (a) = Rs. 30640
Principle (p) = Rs.15 320
Time (t) = 6 years
A formula for calculating annual compound interest is
a = p 1 + r n x t
n
Now, Rs. 30,640 = Rs. 15,320 1 + r 6
100 Rs. 30,640 = 1 + r 6 x 1
Rs. 15,320 1
2 = (1 + r)6
1.12 = 1 + r
r = 0.12
r = 12%
So, the rate of interest is 12%.
Hence (1) is the right answer.

2. Compound interest on a sum for 2 years at 4% per annum is Rs. 102. The simple interest on the same sum for the same period at the same rate will be (1) Rs. 99 (2) Rs. 93 (3) Rs. 97 (4) Rs. 100 Correct answer : (4) Explanation: Let P be the principal and A be the amount in RS. and given r = 4%, and t= 2
In case of CI
A = P 1 + 4 2 100
A = P 26 2
25
A = 676 P 625
A = 676P …….(i)
625
Also, we have
A = 102 + P……(ii)
From (i) and (ii), We have
102 + P = 676P
625
676P = 625 x 102 + 625P
676P – 625P = 625 x 102
51P = 625 x 102
P = 1250
Now, SI = Prt = Rs. 1250 x 4 x 2 = Rs. 100
100 100
Hence, (4) is the right answer.

3. At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years? (1) 4.00% (2) 5 2/3 % (3) 6.00% (4) 6 2/3 % Correct answer : (1) Explanation: Let sum be x. Then, S.I. = 2x , Time = 10 years.
5
Therefore, Rate = 100 x 2x % = 4 % x x 5 x 10
Hence, (1) is the right answer.

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Simple and Compound Interest Problems
4. Rs. 1600 at 10% per annum interest compounded half yearly amounts to Rs. 1944.81 in
(1) 2 years (2) 3 years (3) 4 years (4) 5 years Correct answer : (1) Explanation: Explanation: Here rate of interest will be = (10/2)% = 5% since, interest is compounded half yearly. Let n be the time period.
Then, we have
A = p 1 + r n
100
1944.81 = 1600 1 + 5 n
100
1944.81 = 21 n
1600 20
194481 = 21 n
160000 20
21 4 = 21 n
20 20
(n= 4)
So, the total time period is 4. i.e (4/2)years = 2 years will be the no. of years since, we interest is compounded half yearly. Hence, (1) is the right answer.

5. A sum amounts to Rs. 3584 in 219 days at 4% per annum simple interest. The sum is:
(1) 3250 (2) 3500 (3) 3260 (4) 3400 Correct answer : (2) Explanation: Explanation: Let P be the principle. A= Rs.3584, R = 4% T = 219/365 year Then SI = PRT 100 SI = P x 4 x 219/365 100 SI = 0.6 x 4 x P
100
SI = 2.4 x P
100
Now A = P + SI
Rs.3584 = P + 2.4P
100
Rs.3584 = 100P + 2.4P
100
102.4P = Rs. 3584 x 100
P = Rs.3.5 x 100 x 10
P = Rs. 3500
So, the principle amount = Rs.3500
Hence, (2) is the right answer.

6. The simple interest on 6250 at 4% per annum for 6 months is:
(1) 125 (2) 150 (3) 175 (4) 135 Correct answer : (1) Explanation: Explanation: The simple interest on 6250 at 4% per annum for 6 months is
= Rs.6250 x 4 x ½ = Rs. 125
100
Hence, (1) is the right answer.

7. What is the present worth of Rs. 132 due in two years at 5 % simple interest per annum?
(1) Rs. 112 (2) Rs. 118.8 (3) Rs. 120 (4) Rs. 122 Correct answer : (3) Explanation: Explanation: Here (time) t = 2 years, rate (r) = 5%, Simple interest (SI).
Amount (A) = Rs. 132, Principle (p) = ?
As we know SI = p x r x t = Rs. p x 5 x 2 = Rs. p
100 100 10
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Simple and Compound Interest Problems
Now since A = p + SI
So, Rs. 132 = Rs. p + p
10
Rs. 132 = Rs. 11p
10
p = Rs. 120
Hence, (3) is the right answer.

8. In what time will a sum of money double itself at 5 % per annum simple interest? (1) 10 years (2) 20 years (3) 15 years (4) 17 years Correct answer : (2) Explanation: Explanation: Let principle (P) = Rs. 100, and amount (A)= Rs. 200 ( since A = 2 P). Let T be the time in years. So SI = Rs. 100 (since A(200) = P (100) + SI (100) ). Now SI = PRT 100 100 = 100 x 5 x T 100 100 x 5 x T = 100 x 100 T = 20 So in 20 years a sum of money double itself at 5 % per annum simple interest. Hence, (2) is the right answer.

9. The rate at which a sum becomes four times of itself in 15 years at simple interest will be: (1) 15.00% (2) 17 1 % (3) 20.00% (4) 25.00% Correct answer : (3) Explanation: No Explanation

10. To buy furniture for a new apartment, Sylvia Chang borrowed Rs 5000 at 11% per annum simple interest for 11 months. How much interest will she pay? (1) 500 (2) 504.17 (3) 6050 (4) 605 Correct answer : (2) Explanation:
11. Find the compound interest on Rs 18,750 in 2 years the rate of interest being 4% for the first year and 8% for the second year. (1) 2310 (2) 1130 (3) 3120 (4) None of these Correct answer : (1) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

12. At a simple interest Rs 800 becomes Rs 956 in three years. If the interest rate, is increased by 3%, how much would Rs 800 become in three years? (1) Rs 1020.80 (2) Rs 1004 (3) Rs 1028 (4) Data inadequate Correct answer : (3) Explanation:
13. On retirement, a person gets 1.53 lakhs of his provident fund which he invests in a scheme at 20% p.a. His monthly income from this scheme will be (1) Rs 2450 (2) Rs 2500 (3) Rs 2550 (4) Rs 2600 Correct answer : (3) Explanation:
14. In how many minimum number of complete years, the interest on Rs 212.50 P at 3% per annum will be in exact number of rupees? (1) 6 (2) 8 (3) 9 (4) 7 Correct answer : (2) Explanation:
15. A scooter costs Rs 25, 000 when it is brand new. At the end of each year, its value is only 80% of what it was at the beginning of the year. What is the value of the scooter at the end of 3 years? (1) Rs 10000 (2) Rs 12500 (3) Rs 12800 (4) Rs 12000 Correct answer : (3) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

16. Village A has a population of 6800, which is decreasing at the rate of 120 per year. Village B has a population of 4200, which is increasing at the rate of 80 per year. In how many years will the population of the two villages will become Equal ? (1) 9 (2) 11 (3) 13 (4) 16 Correct answer : (3) Explanation: (c) Checking with options, we find that after 13 years, population of the village A = 6800 – 120 × 13 = 5240 And that of village B = 4200 + 80 × 13 = 5240

17. A person invested some amount at the rate of 12% simple interest and a certain amount at the rate of 10% simple interest. He received yearly interest of Rs 130. But if he had interchanged the amounts invested, he would have received Rs 4 more as interest. (1) Rs 700 (2) Rs 500 (3) Rs 800 (4) Rs 400 Correct answer : (2) Explanation:
18. A certain amount is lent at x% p.a. simple interest for two years. Instead, if the amount was lent at 2x% p.a. simple interest for ‘y’ more years, then the interest would have been five times the earlier interest. What is the value of y? (1) 2 years (2) 3 years (3) 4 years (4) 5 years Correct answer : (2) Explanation:
19. A certain sum of money triple itself in 8 years. In how many years it will be five times? (1) 22 years (2) 16 years (3) 20 years (4) 24 years Correct answer : (2) Explanation: (b) It triple itself in 8 years, which makes interest equal to 200% of principal. So, 200% is added in 8 years Hence, 400% which makes the whole amount equal to five times of the principal, which will be added in 16 years
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Simple and Compound Interest Problems

20. The difference between CI and SI on a certain sum of money at 10% per annum for 3 years is Rs 620. Find the principal if it is known that the interest is compounded annually. (1) Rs 200000 (2) Rs 20000 (3) Rs 10000 (4) Rs 100000 Correct answer : (2) Explanation: (b) Go through trial and error of the options. You will get: 20000×(1.3) = 26000 (@ simple interest) 20000 × 1.1×1.1×1.1 = 26620 @ compound interest. Thus 20000 is the correct answer.

21. An amount of Rs 12820 due 3 years hence, is fully repaid in three annual instalments starting after 1 year The first instalment is 1/2 the second instalment and the second instalment is 2/3 of the third instalment. If the rate of interest is 10% per annum (1) Rs 2400 (2) Rs 1800 (3) Rs 2000 (4) Rs 2500 Correct answer : (3) Explanation: (c)Solve using options. Option (c) fits the situation as: 12820 = 2000 + 2 years interest on 2000 + 4000 + 1 years interest on
4000 + 6000 (use 10% compound interest for calculation of interest) ® 12820 = 2000 + 420 + 4000 + 400 + 6000. Thus, option (c) fits the situation perfectly.

22. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years? (1) Ratio 1:3 (2) Ratio 1:4 (3) Ratio 2:3 (4) None of these Correct answer : (3) Explanation:
23. A man borrows Rs 6000 at 5% interest, on reducing balance, at the start of the year. If he repays Rs 1200 at the end of each year, find the amount of loan outstanding, (in Rs), at the beginning of the third year. (1) 3162.75 (2) 4155 (3) 4155 (4) 5100 Correct answer : (3) Explanation:
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Simple and Compound Interest Problems
24. Two equal sums were lent, one at the rate of 11% p.a. for five years and the other at the rate of 8% p.a. for six years, both under simple interest. If the difference in interest accrued in the two cases is Rs 1008. find the sum. (1) Rs 11200 (2) Rs 5600 (3) Rs 12600 (4) Rs 14400 Correct answer : (4) Explanation:
25. A sum is invested at compound interest payable annually. The interest in two successive years was Rs 225 and
Rs 236.25. Find the rate of interest (1)
(2)
(3)
(4)
Correct answer : (3) Explanation:
26. 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 (1) Rs 120 (2) Rs 121 (3) Rs 122 (4) Rs 123 Correct answer : (2) Explanation: Downloaded From : https://www.exambin.com/
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27. A sum of money invested at simple interest triples itself in 8 years. How many times will it become in 20 years Time? (1) 8 times (2) 7 times (3) 6 times (4) 9 times Correct answer : (3) Explanation: (c) Tripling in 8 years means that the interest earned in 8 years is equal to 200% of the capital value. Thus, interest per year (simple interest) is 25% of the capital. In 20 years, total interest earned = 500% of the capital and hence the capital would become 6 times it's original value.

28. The population of a city is 200,000. If the annual birth rate and the annual death rate are 6% and 3% respectively, then calculate the population of the city after 2 years. (1) 212090 (2) 206090 (3) 212000 (4) 212180 Correct answer : (4) Explanation: (d) The yearly increase in the population is 3%. Thus, the population would increase by 3% each year. 200000 would become
206000 while 206000 would become 212180.

29. The population of Bangalore was 1283575 on 1 January 2001 and the growth rate of population was 10% in the last year and 5% in the years prior to it, the only exception being 1999 when because of a huge exodus there was a decline of 20% in population. Wha (1) 1000000 (2) 1200000 (3) (4) 1500000 Correct answer : (2) Explanation: (b)Solve through options to see that the value of 1200000 fits the given situation.

30. A person bought a motorbike under the following scheme: Down payment of Rs 15,000 and the rest amount at 8% per annum for 2 years. In this way, he paid Rs 28,920 in total. Find the actual price of the motorbike. (Assume simple interest). (1) Rs 26000 (2) Rs 27000 (3) Rs 27200 (4) Rs 26500 Correct answer : (2) Explanation: (b)Solve using options. If the price is 27000, the interest on 12000 (after subtracting the down payment) would be 16% of 12000 = 1920. Hence, the total amount paid would be 28920.

31. The ratio of the amount for two years under C.I. annually and for one year under S.I. is 6 : 5. When the rate of interest is same, then the value of rate of interest is Downloaded From : https://www.exambin.com/
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(1)
(2)
(3)
(4)
Correct answer : (3) Explanation:
32. Akram Ali left an amount of Rs 340000 to be divided between his two sons aged 10 years and 12 years such that both of them would get an equal amount when each attain 18 years age. What is the share of elder brother if the whole amount was invested at 10% (1) 120000 (2) 140000 (3) 160000 (4) 180000 Correct answer : (3) Explanation:
33. A Sonata watch is sold for Rs 440 cash or for Rs 200 cash down payment together with Rs 244 to be paid after one month. Find the rate of interest charged in the instalment scheme (1)
(2)
(3)
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Simple and Compound Interest Problems
(4)
Correct answer : (1) Explanation:
34. What will be the compound interest on a sum of Rs 7500/ at 4 p.c.p.a. in 2 years ? (1) Rs 618 (2) Rs 612 (3) Rs 624 (4) Rs 606 Correct answer : (2) Explanation:
35. In how many years will Rs 4600 amount to Rs 5428 at 3 p.c.p.a. simple interest ? (1) 3 (2) 5 (3) 6 (4) 4 Correct answer : (4) Explanation:
36. 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 ? (1) 6 years (2) 4 years (3) 8 years (4) 5 years Correct answer : (4) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

37. If the compound interest on a certain sum of money for 3 years at 10% p.a. be Rs 993, what would be the simple interest ? (1) Rs 800 (2) Rs 950 (3) Rs 900 (4) Rs 1000 Correct answer : (3) Explanation:
38. Mahesh starts work as a sales representative on an annual salary of Rs 1,60,000. If he receives a 15% payrise each year, the number of years he has worked for the company, when his annual salary became Rs 2,79,841 is (1) 2 (2) 3 (3) 4 (4) 5 Correct answer : (3) Explanation:
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Simple and Compound Interest Problems
39. A sum of money placed at compound interest doubles itself in 5 years. It will amount to eight times of itself in : (1) 15 years (2) 12 years (3) 10 years (4) 20 years Correct answer : (1) Explanation:
40. A sum amounts double in 8 years by simple interest. Then the rate of simple interest p.a. is (1)
(2)
(3)
(4)
Correct answer : (2) Explanation:
41. Rekha invested a sum of Rs 12000 at 5% per annum compound interest. She received an amount of Rs 13230 after n years. Find n. (1) 2.8 years (2) 3.0 years (3) 2.5 years (4) 2.0 years Correct answer : (4) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

42. A sum of money becomes 1.331 times in 3 years as compound interest. The rate of interest is (1)
(2)
(3)
(4)
Correct answer : (4) Explanation:
43. A person deposited Rs 500 for 4 years and Rs 600 for 3 years at the same rate of simple interest in a bank. Altogether he received Rs 190 as interest. The rate of simple interest per annum was (1)
(2)
(3)
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(4)
Correct answer : (3) Explanation:
44. The difference between the interests received from two different banks on Rs 500 for 2 years is Rs 2.50. The difference between their rates is: (1)
(2)
(3)
(4)
Correct answer : (3) Explanation:
45. A principal of Rs 10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to: (1) 12000 (2) 12320 (3) 12500 (4) 11320 Correct answer : (2) Explanation: Downloaded From : https://www.exambin.com/
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46. A sum becomes Rs 2,916 in 2 years at 8% per annum compound interest. The simple interest at 9% per annum for 3 years on the same amount will be (1) Rs 625 (2) Rs 600 (3) Rs 675 (4) Rs 650 Correct answer : (3) Explanation:
47. The population of a village increases by 5% annually. If its present population is 4410, then its population 2 years ago (1) 4500 (2) 4000 (3) 3800 (4) 3500 Correct answer : (2) Explanation:
48. A sum of Rs 210 was taken as a loan. This is to be paid back in two equal instalments. If the rate of interest be 10% compounded annually, then the value of each instalment is (1) Rs 127 (2) Rs 121 (3) Rs 210 (4) Rs 225 Correct answer : (1) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

49. Rs 64,000 will amount to Rs 68,921 at 5% per annum and interest payable half yearly in (1)
(2) 2 years (3)
(4)
Correct answer : (2) Explanation:
50. If the simple interest and compound interest at the same rate of certain amount for 2 years are Rs 400 & Rs 420 respectively, then the rate of interest is (1)
(2)
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(3)
(4)
Correct answer : (3) Explanation:
51. What would be the compound interest obtained on an amount of Rs 1,210 at the rate of 6. p.c.p.a. after a year ? (1) Rs 70.50 (2) Rs 74.60 (3) Rs 73.80 (4) Rs 72.60 Correct answer : (4) Explanation:
52. What is the difference between the simple and compound interest earned from a sum of Rs 13,033 at a rate of 13 percent per annum for a period of 3 years (rounded off to 2 digits after decimal) ? (1) Rs 5,082.87 (2) Rs 689.41 (3) Rs 5,772.28 (4) Rs 680.94 Correct answer : (2) Explanation: Downloaded From : https://www.exambin.com/
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53. Rs 58,750 amounts to Rs 79,900 in four years at simple interest. What is the rate of interest paid? (1) 14 (2) 13 (3) 12 (4) 9 Correct answer : (4) Explanation:
54. How much will a sum of Rs 12,000 deposited at a rate of 9% per annum (simple interest) for 13 years amount
to? (1) Rs 14040 (2) Rs 20650 (3) Rs 13404 (4) Rs 26040 Correct answer : (4) Explanation:
55. Simple interest on a sum of money for 4 yrs at 7 pcpa is Rs 3584. What would be the compound interest (compounded annually) on the same amount of money for 2 yr at 4 pcpa? (1) Rs 1162.32 (2) Rs 1098.72 (3) Rs 992.38 (4) Rs 1044.48 Correct answer : (4) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

56. The comound interest on a certain sum for 2 years at 10% per annum is Rs 1260. The simple interest on the same sum for double the time at half the rate per cent per annum is (1) Rs 1200 (2) Rs 1160 (3) Rs 1208 (4) Rs 1175 Correct answer : (1) Explanation:
57. The simple interest on a sum of money will be Rs 300 after 5 years. In the next 5 years principal is trepled, what will be the total interest at the end of the 10th year? (1) 1200 (2) 900 (3) 600 (4) 1500 Correct answer : (1) Explanation:
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58. A person lent a certain sum of money at 4% simple interest; and in 8 years the interest amounted to Rs 340 less than the sum lent. Find the sum lent. (1) 500 (2) 600 (3) 1000 (4) 1500 Correct answer : (1) Explanation:
59. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs 24 more? The sum is (1) 1200 (2) 1500 (3) 1800 (4) 2000 Correct answer : (1) Explanation:
60. A sum of money at compound interest amounts in two years to Rs 2809, and in three years to Rs 2977.54. Find the rate of interest and the original sum (1) 2000 (2) 2100 (3) 2200 (4) 2500 Correct answer : (4) Explanation: Downloaded From : https://www.exambin.com/
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61. If the rate increases by 2%, the simple interest received on a sum of money increases by Rs 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs 180. The sum is : (1) Rs 1800 (2) Rs 3600 (3) Rs 5400 (4) Data inadequate Correct answer : (4) Explanation:
62. A man borrows Rs 12,500 at 20% compound interest. At the end of every year he pays Rs 2000 as part repayment. How much does he still owe after three such instalments? (1) Rs 12000 (2) Rs 12864 (3) Rs 15600 (4) None of these Correct answer : (4) Explanation:
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63. A part of Rs 38,800 is lent out at 6% per six months. The rest of the amount is lent out at 5% per annum after
one year. The ratio of interest after 3 years from the time when first amount was lent out is 5 : 4. Find the second part that was lent out at 5 (1) Rs 26600 (2) Rs 28800 (3) Rs 27500 (4) Rs 28000 Correct answer : (2) Explanation:
64. The difference between C.I. and S.I. on a certain sum of money at 10% per annum for 3 years is Rs 620. Find the principal if it is known that the interest is compounded annually (1) Rs 200000 (2) Rs 20000 (3) Rs 10000 (4) Rs 100000 Correct answer : (2) Explanation:
65. The population of towns A and B is the ratio of 1 : 4. For the next 2 years, the population of A would increase and that of B would decrease by the same percentage every year. After 2 years, their population became equal. What is the percentage change in (1)
(2)
(3)
(4) Not possible Correct answer : (1) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

66. If the population of a town at the beginning of a year was 1530000, and the birth rate was 53.2, while the death rate was 31.2 per 1000 of the population, then the net increase in the population at the end of the year was (1) 336600 (2) 363600 (3) 366300 (4) 330000 Correct answer : (1) Explanation:
67. Arun borrowed a sum of money from Jayant at the rate of 8% per annum simple interest for the first four years, 10% per annum for the next six years and 12% per annum for the period beyond ten years. If he pays a total of Rs 12,160 as interest only at the (1) Rs 160 (2) Rs 42 (3) Rs 62 (4) Rs 20 Correct answer : (1) Explanation:
68. What will be the difference in simple and compound interest on Rs 2000 after three years at the rate of 10 percent per annum? (1) Rs 160 (2) Rs 42 (3) Rs 62 (4) Rs 20 Correct answer : (3) Explanation: Downloaded From : https://www.exambin.com/
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69. Aniket deposited two parts of a sum of Rs 25000 in different banks at the rates of 15% per annum and 18% per annum respectively. In one year he got Rs 4050 as the total interest. What was the amount deposited at the rate of 18% per annum? (1) Rs 9000 (2) Rs 18000 (3) Rs 15000 (4) None of these Correct answer : (4) Explanation:
70. Mr. X invested an amount for 2 years at 15 percent per annum at simple interest. Had the interest been compounded, he would have earned Rs 450/ more as interest. What was the amount invested? (1) Rs 22000 (2) Rs 24000 (3) Rs 25000 (4) None of these Correct answer : (4) Explanation:
71. Mr Sridharan invested money in two schemes A and B, offering compound interest at 8 percent per annum and 9 percent per annum respectively. If the total amount of interest accrued through the two schemes together in two
years was Rs 4818.30 and the total (1) Rs 15000 (2) Rs 13500 (3) Rs 12000 (4) Cannot be determined Correct answer : (3) Explanation: Downloaded From : https://www.exambin.com/
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72. Parameshwaran invested an amount of Rs 12,000 at the simple interest rate of 10 percent per annum and another amount at the simple interest rate of 20 percent per annum. The total interest earned at the end of one year on the total amount invested became (1) Rs 22000 (2) Rs 25000 (3) Rs 20000 (4) Rs 24000 Correct answer : (3) Explanation:
73. A father left a will of Rs 68,000 to be divided between his two sons aged 10 years and 12 years such that they may get equal amount when each attains the age of 18 years If the money is reckoned at 10% p.a., find how much
each gets at the time of the will (1) Rs 30000,Rs 38000 (2) Rs 28000,Rs 40000 (3) Rs 32000,Rs 36000 (4) Cannot be determined Correct answer : (3) Explanation: Downloaded From : https://www.exambin.com/
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74. Two equal sums of money were invested, one at 4% and the other at 4.5%. At the end of 7 years, the simple interest received from the latter exceeded to that received from the former by Rs 31.50. Each sum was (1) Rs 1200 (2) Rs 600 (3) Rs 750 (4) Rs 900 Correct answer : (4) Explanation:
75. A sum of Rs 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs 362.50 more is lent but at the rate twice the former. At the end of the year, Rs 33.50 is earned as interest from both the loans. What was the or (1)
(2)
(3)
(4)
Correct answer : (4) Explanation: Downloaded From : https://www.exambin.com/
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76. David invested certain amount in three different schemes A, B and C with the rate of interest 10% p.a., 12% p.a. and 15% p.a. respectively. If the the total interest accrued in one year was Rs 3200 and the amount invested in Scheme C was 150 % of the amou (1) Rs 5000 (2) Rs 6500 (3) Rs 8000 (4) cannot be determined Correct answer : (1) Explanation:
77. Subash purchased a refrigerator on the terms that he is required to pay Rs 1,500 cash down payment followed by Rs 1,020 at the end of first year, Rs 1,003 at the end of second year and Rs 990 at the end of third year. Interest is charged at the rate of 10 (1) Rs 3000 (2) Rs 2000 (3) Rs 4000 (4) Rs 5000 Correct answer : (3) Explanation: Downloaded From : https://www.exambin.com/
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78. Seema invested an amount of Rs 16,000 for two years on compound interest and received an amount of Rs 17,640 on maturity. What is the rate of interest ? (1)
(2)
(3)
(4) Data inadequate Correct answer : (1) Explanation:
79. A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in three years. If the same amount is deposited at the same compound rate of interest, then in how many year will it become 16 tim (1) 5 years (2) 4 years (3) 6 years (4) 7 years Correct answer : (2) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

80. Two friends A and B jointly lent out Rs 81,600 at 4% per annum compound interest. After 2 years A gets the same amount as B gets after 3 years. The investment made by B was (1) Rs 40000 (2) Rs 30000 (3) Rs 45000 (4) Rs 38000 Correct answer : (1) Explanation:
81. A moneylender, lends a part of his money at 10% per annum and the rest at 15% per annum. His annual income is Rs 1900.However, if he had interchanged the rate of interest on the two sums, he would have earned Rs 200 more. The amount lent will fetch what (1) Rs 6000 (2) Rs 4000 (3) Rs 10000 (4) Rs 4400 Correct answer : (1) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

82. Amin borrowed some money from Vishwas. The rate of interest for first two years is 8% p.a., for the next three years is 11 % p.a. and for the period beyond 5 years 14% p.a. Vishwas got an amount of Rs 10920 as an interest at the end of eight years. Then w (1) Rs 12000 (2) Rs 15000 (3) Rs 1400 (4) None of these Correct answer : (1) Explanation:
83. The simple interest accrued on an amount of Rs 22,500 at the end of four years is Rs 10,800. What would be the compound interest accrued on the same amount at the same rate at the end of two years ? (1) Rs 16908 (2) Rs 5724 (3) Rs 28224 (4) Rs 8586 Correct answer : (2) Explanation: Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems

84. What is the difference between the simple and compound interest on Rs 7,300/ at the rate of 6 p.c.p.a. in 2 years ? (1) Rs 29.37 (2) Rs 26.28 (3) Rs 31.41 (4) Rs 23.22 Correct answer : (2) Explanation:
85. The simple interest accrued on a sum of certain principal in 8 yr at the rate of 13% per year is Rs 6500. What would be the compound interest accrued on that principal at the rate of 8% per year in 2 yrs? (1) Rs 1040 (2) Rs 1020 (3) Rs 1060 (4) Rs 1200 Correct answer : (1) Explanation:
86. The difference between C. I. (Compound Interest) and S.I. (Simple Interest) on a sum of Rs 4,000 for 2 years at 5% p.a. payable yearly is (1) Rs 20 (2) Rs 10 (3) Rs 50 (4) Rs 60 Downloaded From : https://www.exambin.com/
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Simple and Compound Interest Problems
Correct answer : (2) Explanation:
87. Two equal sums were borrowed at 8% simple interest per annum for 2 years and 3 years respectively. The difference in the interest was Rs 56. The sums borrowed were (1) Rs 800 (2) Rs 700 (3) Rs 560 (4) Rs 350 Correct answer : (2) Explanation:
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