Aptitude Logical Reasoning Compound Interest 2022 ACT Part 5
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1. There is 60 % increase in an amount in 6 years at S. I. What will be the C. I. of ₹ 12,000 after 3 years at the same rate?
A. ₹ 2160
B. ₹ 3120
C. ₹ 3972
D. ₹ 6240
Answer: C
2. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4 % per annum is Re. 1. The sum (in ₹) is?
A. 625
B. 630
C. 640
D. 650
Answer: A
3. On a sum of money, the S. I. for 2 years is ₹ 660, while the C. I. is ₹ 696.30, the rate of interest being the same in both the cases. The rate of interest is?
A. 10 %
B. 10.5 %
C. 12 %
D. 11 %
Answer: D
4. The effective annual rate of interest corresponding to a nominal rate of 6 % per annum payable half-yearly is?
A. 6.06 %
B. 6.07 %
C. 6.08 %
D. 6.09 %
Answer: D
5. A sum of money invested at C. I. amounts to ₹ 800 in 3 years to ₹ 840 in 4 years. The rate of interest per annum is?
A.
B. 4 %
C. 5 %
D.
Answer: C
6. A sum of money placed at C. I. interest doubles itself in 5 years. It will amount to eight times itself at the same rate of interest in?
A. 7 years
B. 10 years
C. 15 years
D. 20 years
Answer: C
7. The least number of complete years in which a sum of money put out at 20 % C. I. will be more than doubled is?
A. 3
B. 4
C. 5
D. 6
Answer: B
8. What annual payment will discharge a debt of ₹ 1025 due in 2 years at the rate of 5 % compound interest?
A. ₹ 550
B. ₹ 551.25
C. ₹ 560
D. ₹ 560.75
Answer: B
9. A sum of money is borrowed and paid back in two annual instalments of ₹ 882 each allowing 5 % C. I. The sum borrowed was?
A. ₹ 1620
B. ₹ 1640
C. ₹ 1680
D. ₹ 1700
Answer: B
10. The difference between C. I. and S. I. on an amount of ₹ 15,000 for 2 years is ₹ 96. What is the rate of interest per annum?
A. 8
B. 10
C. 12
D. Cannot be determined
Answer: A