Bank Paper Simple Interest & Compound Interest

Simple Interest & Compound Interest

1. What would be the compound interest accrued on an amount f Rs 45400 at the rate of 15% per annum?

(1)   Rs 16411.5

(2)   Rs 14461.5

(3)   Rs 16461.5

(4)   Rs 14641.5

(5)   None of these

Answer: (4)

2. A man gets a simple interest of Rs 1000 on a certain principal at the rate of 5% per annum in 4 yr. What compound interest will the man get on twice the principal in 2 yr at the same rate?

(1)   Rs 1050

(2)   Rs 1005

(3)   Rs 11025

(4)   Rs 10125

(5)   None of these

Answer: (5)

3. Sonika invested an amount of Rs 5800 for 2 yr. At what rate of compound interest will she get an amount of Rs 594.5 at the end of 2 yr ?

(1)   5% per annum

(2)   4% per annum

(3)   6% per annum

(4)   8% per annum

(5)   None of these

Answer: (1)

4. Arun invested a sum of money at a certain rate of simple interest for a period of 4 yr. Had he invested the same sum for a period of 6 yr, the total interest earned by him would have been 50% more than the earlier interest amount. What was the rate of interest per cent per annum?

(1)   4

(2)   8

(3)   5

(4)   Cannot be determined

(5)   None of these

Answer: (4)

5. What would be the compound interest accrued on an amount of Rs 7400 @ 13.5% per annum at the end of 2 yr?

(Rounded off to two digits after decimal)

(1)   Rs 2136.87

(2)   Rs 2306.81

(3)   Rs 2032.18

(4)   Rs 2132.87

(5)   None of these

Answer: (4)

6. If the compound interest accrued on an amount of Rs 14500 in 2 yr is Rs 4676.25. What is the rate of interest % per annum?

(1)   11

(2)   9

(3)   15

(4)   18

(5)   None of these

Answer: (3)

7. The simple interest accrued on an amount of Rs 16500 at the end of 3 yr is Rs 5940. What would be the compound interest accrued on the same amount at the same rate in the same period?

(1)   Rs 6681.31

(2)   Rs 6218.27

(3)   Rs 6754.82

(4)   Rs 6537.47

(5)   None of these

Answer: (1)

8. What will be the compound interest accrued on an amount of Rs 10000 @ 20% per annum in 2 yr, if the interest is compounded half-yearly?

(1)   Rs 4400

(2)   Rs 4600

(3)   Rs 4641

(4)   Rs 4680

(5)   None of these

Answer: (3)

9. Duggal invested Rs 20000 with rate of interest @ 20% per annum. The interest was compounded half-yearly for the first 1 y and in the next year it was compounded yearly. What will be the total interest earned at the end of 2 yr?

(1)   Rs 8800

(2)   Rs 9040

(3)   Rs 8040

(4)   Rs 9800

(5)   None of these

Answer: (2)

10. Manisha invests an amount of Rs 39300 for 4 yr at the rate of 4% per annum What amount of approximate compound interest will she obtain at the end of 4 yr?

(1)   Rs 6675

(2)   Rs 6650

(3)   Rs 6288

(4)   Rs 6356

(5)   Rs 6450

Answer: (1)

11. What would be the compound interest obtained on an amount of Rs 20000 at the rate of 15% per annum after 4 yr?

(1)   Rs 14980.125

(2)   Rs 19680.125

(3)   Rs 16780.125

(4)   Rs 18980.125

(5)   None of these

Answer: (1)

12. The compound interest accrued on an amount of Rs 25500 at the end of 3 yr is Rs 8440.50. What would be the simple interest accrued on the same amount at the same rate in the same period?

(1)   Rs 4650

(2)   Rs 5650

(3)   Rs 6650

(4)   Rs 7650

(5)   None of these

Answer: (4)

13. The simple interest obtained on an amount of Rs 45000 at the end of 4 yr is Rs 15300. What would be the approximate compound interest obtained on the same amount at the same rate of interest in the same period?

(1)   Rs 18244

(2)   Rs 19500

(3)   Rs 16285

(4)   Rs 18566

(5)   None of these

Answer: (5)

14. The compound interest accrued of an amount of Rs 22000 at the end of 2 yr is Rs 5596.8. What would be the simple interest accrued on the same amount at the same rate in the same period?

(1)   Rs 5420

(2)   Rs 5360

(3)   Rs 5280

(4)   Rs 5140

(5)   None of these

Answer: (3)

15. The simple interest accrued on an amount of Rs 25000 at the end of 3 yr is Rs 7500. What would be the compound interest accrued in the same amount at the same rate in the same period?

(1)   Rs 7750

(2)   Rs 8275

(3)   Rs 8500

(4)   Rs 8250

(5)   None of these

Answer: (2)

16. The simple interest accrued on an amount of Rs 84000 at the end of 3 yr is Rs 30240. What would be the compound interest accrued on the same amount at the same rate in the same period?

(1)   Rs 30013.95

(2)   Rs 31013.95

(3)   Rs 32013.95

(4)   Rs 33013.95

(5)   Rs 34013.95

Answer: (5)

17. What would be the compound interest accrued on an amount of Rs 16500 @ 14% per annum at the end of 3 yr?

(1)   Rs 7945.476

(2)   Rs 6825.281

(3)   Rs 7022.415

(4)   Rs 6928.114

(5)   None of these

Answer: (1)

18. Manish borrowed a sum of Rs 1150 from Anil at the simple rate of 6% per annum for 3 yr. He then added some more money to the borrowed sum and lent it to Sunil for the same time at 9% per annum at simple interest. If Manish gains Rs 274.95 by way of interest on the borrowed sum as well as his own amount from the whole transaction, then what is the sum lent by him to Sunil?

(1)   Rs 1290

(2)   Rs 1785

(3)   Rs 1285

(4)   Rs 1200

(5)   None of these

Answer: (2)

Directions (Q. Nos. 19 to 25) Each of the questions below consists of a question and two statements A and B given below it. Your have to decide whether the data provided in the statements are sufficient to answer the question. Read the questions and both statements and given answer

(1) if statement A is alone sufficient to answer the question

(2) if statement B is alone sufficient to answer the question

(3) if both the statements independently are sufficient to answer the question

(4) if both the statements are not sufficient to answer the question

(5) if both the statements together are sufficient to answer the question but neither statement is sufficient alone

19. What is the rate of interest % per annum?

A. An amount of Rs 6200 fetches simple interest of Rs 1736 in 2 yr.

B. An amount of Rs 4500 fetches compound interest of Rs 1348.2 in 2 yr.

Answer: (3)

20. What is the rate of interest % per annum?

A. The amount doubles itself in 10 yr.

B. The simple interest accrued in 5 yr is Rs 5000.

Answer: (1)

21. What is the rate of interest % per annum on an amount of Rs 12000 deposited in a bank?

A. The difference between the simple interest and the compound interest is Rs 172.80

B. The simple interest for 2 yr is Rs 2880.

Answer: (3)

22. In how many years can a simple interest of 6570 be obtained on an amount of Rs 36500?

A. The rate of simple interest is 6% per annum

B. The difference between the simple interest and the compound interest is Rs 402.084.

Answer: (1)

23. What is the rate of interest (% per annum) on an amount of Rs 6000 deposited in a bank?

A. The simple interest for 4 yr is Rs 2400.

B. The difference between the simple interest and compound interest is Rs 384.6.

Answer: (1)

24. What is t he rate of interest?

A. Compound interest earned on a certain amount in 2 yr is more than the simple interest for the same period by Rs 400.

B. The amount doubles itself in 5 yr.

Answer: (2)

25. What is the per cent rate of simple interest per annum?

A. The amount with the interest rate doubles is 5 yr.

B. The interest earned in first year was Rs 10000.

Answer: (1)

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