Aptitude Logical Reasoning Compound Interest 2021 Competitive Exams Part 7

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1. The Compound interest on ₹ 16000 for 9 months at 20 % P. a compounded quarterly is:

A. ₹ 2518

B. ₹ 2520

C. ₹ 2522

D. ₹ 2524

Answer: C

2. If the interest is payable annually than the principal on which the compound interest for 3 years at 10 % P. a is ₹ 33/- is given by:

A. ₹ 900

B. ₹ 1000

C. ₹ 1050

D. ₹ 1100

Answer: B

3. The difference between compound interest and simple interest on a sum for 2 years at 8 % P. a is ₹ 786. The sum is:

A. ₹ 100000

B. ₹ 11000

C. ₹ 120000

D. ₹ 170000

Answer: C

4. A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?

A. 7 years

B. 10 years

C. 15 years

D. 20 years

Answer: C

5. If the rate of interest be 4 % per annum for first year 5 % per annum for the second year and 6 % per annum from the third year then the compound interest of ₹ 10000 for 3 years will be

A. ₹ 1575.20

B. ₹ 1600

C. ₹ 1625.80

D. ₹ 2000

Answer: A

6. A money lender borrows money at 4 % P. a and pays interest at the end of the year. He lends it at 6 % P. a compound interest compounded half-yearly and receives the interest at the end of the year. Thus be gains ₹ 104.50 a year. The amount of money he borrows is

A. ₹ 4500

B. ₹ 5000

C. ₹ 5500

D. ₹ 6000

Answer: B

7. A man deposited ₹ 6000 in a bank at 5 % P. a simple interest another man deposits ₹ 5000 at 8 % P. a Compounded interest. After 2 years the difference of their interest will be

A. ₹ 230

B. ₹ 232

C. ₹ 600

D. ₹ 832

Answer: B

8. The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10 % per annum is ₹ 65. The sum is

A. ₹ 6500

B. ₹ 6565

C. ₹ 65065

D. ₹ 65650

Answer: A

9. 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

10. At what rate of interest will be ₹ 20000 becomes ₹ 24200 after 2 years when interest is compounded annually?

A. 5 %

B. 6 %

C. 10 %

D. 15 %

Answer: C

11. The difference between compound interest and simple interest at the same rate on ₹ 5000 for 2 years is ₹ 72. The rate of interest per annum is:

A. 6 %

B. 8 %

C. 10 %

D. 12 %

Answer: D

12. Simple interest on a certain sum of money for 3 years at 8 % per annum is half the compound interest on ₹ 4000 for 2 years at 10 % per annum. The sum placed on simple interest is:

A. ₹ 1550

B. ₹ 1650

C. ₹ 1750

D. ₹ 2000

Answer: C

13. If the simple interest on a sum of money for 2 years at 5 % per annum is ₹ 50, what is the compound interest on the same at the same rate and for the same time?

A. ₹ 51.25

B. ₹ 52

C. ₹ 54.25

D. ₹ 60

Answer: A

14. The difference between simple interest and compound on ₹ 1200 for one year at 10 % per annum reckoned half-yearly is:

A. ₹ 2.50

B. ₹ 3

C. ₹ 3.75

D. ₹ 4

Answer: B

15. The difference between compound interest and simple interest 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

16. What will be ratio of simple to compound interest on two same sums invested in SBI at rate of interest of 8 % kept for 3 years?

Answer: A