Quantitative Aptitude: Simple/Compound Interest Set 15

1. Ramu gave Rs. 5000 to Raju for 2 years and Rs.3000 to Kiran for 4 years on simple interest at the same rate of interest and received Rs.4400 in total from both as interest. Find the rate of interest per annum.
   20
   30
   40
   50
   60
   Option A
   Let the rate of interest =R%.
   Then 5000 * 2* R / 100 + 3000 * 4* R /100 = 4400
   100R+120R= 4400
   =>220R= 4400
   =>R= 20%
   
   
    



2. A and B borrows Rs.5000 and Rs.3000 respectively at the same rate of interest for 2 ½ years. If B paid Rs.200 more interest than A, Find the rate of interest.
   2
   4
   6
   8
   5
   Option B
   From the question,
   5000 * 5*R/ 100*2 - 3000 * 5 * R / 100*2 = 200 ( 2 ½ = 5/2)
   =>10000 R/ 200 =200
   =>R= 4%
   
   
    



3. The simple interest on a sum of money 3 years is Rs. 240. And the compound interest on the same sum at the same rate for 2 years is Rs.170.What is the rate of interest?
   22.2
   23.7
   25.6
   21.6
   22.9
   Option A
   Simple interest for 1 year = 270/3= 90 =PR/100
   For two years= 90*2= Rs.180
   Difference for 2 years= 180- 160 = Rs.20
   Difference between C.I and S.I = PR2 /1002
   Rate % = 20/90 * 100
   =22.2%
   
   
    



4. A person deposits some amount in a bank. After some years a sum of money is doubled itself at 2 ½ % simple interest for a year. Then find the time .
   30
   35
   40
   45
   55
   Option C
   Let Principal=P.
   =>Amount = 2P
   Simple interest = 2P-P= Rs.P
   SI= P*R*T/100
   P= P*5 *T/2*100
   =>200 = 5T
   T= 200/5= 40 years.
   
   
    



5. A person gave Rs.4000 for 3 years to his friend and gave Rs. 5000 for 4 years to his brother at the same rate of simple interest. Finally he receives Rs.1600 as interest from both ,What is the rate of interest per annum?
   6
   7
   2
   5
   4
   Option D
   Let the rate of interest = x%
   4000 * x * 3/ 100 + 5000 * x*4 /100 = 1600
   120x + 200x = 1600
   =>320x= 1600
   =>x= 5%
   
   
    



6. A person borrowed some amount at the rate of 12% per annum at simple interest .After 5 years 4 months , he paid Rs.720 as an interest .Find the amount borrowed by him?
   Rs.1235
   Rs.1125
   Rs.1254
   Rs.1200
   Rs.1300
   Option B
   R= 12%, T= 6 years 8months.
   5 years 4 months =5 4 /12 = 5 1/3 = 16/ 3 years.
   Interest =PRT/ 100
   720 =P *12*16/ 100 *3
   =>P=Rs. 1125
   
   
    



7. A deposits Rs. 20,000 as fixed deposits at a bank at the rate of 10% per annum simple interest. But for some reasons he has to withdraw the entire money after 2 years . So bank has given lower interest to him. But he got Rs.4000 less amount what he would wants to get after 5 years, then find the rate of interest given by the bank ?
   23
   24
   25
   32
   21
   Option C
   Principal= Rs. 20,000
   Rate%= 10%
   SI for 5 years= 20000*10 *5/100 =Rs.10,000
   After three years interest received = 10000-4000= Rs.6000
   Rate%= 6000/ 12000 * 100/2 = 25%
   
   
    



8. Sonu deposits Rs.2500 in 2 years. She receives 4% compound interest for the first year. Second year the bank hikes its interest rate as 8%.Find the difference of the amount she received in the two years.
   200
   123
   543
   300
   400
   Option A
   P= Rs.2500
   R1= 4%, R2=8%
   Amount for first year = 2500 ( 1+ 4/100) =Rs.2600
   Second year= 2600 (1+8/100)= Rs.2800
   Difference = 2800- 2600 = Rs. 200
   
   
    



9. Man invests ½ of his retirement amount at 2% in one bank and 1/5 amount at 5% in the second bank and 1/8 th amount in the third bank at 8% .If simple interest of 2 years amount he got is Rs.10,000, Find the total amount he invested?
   Rs.176,099
   Rs.1,66,667
   Rs.1,76,900
   Rs.1,23,765
   Rs.1,89,002
   Option B
   Let the sum be Rs.100.
   SI = (100/2 * 2/100 * 2) +( 100/5 * 5/100 *2) + ( 100/8 * 8/100* 2)
   = 6
   Actual Sum = 10000/6 * 100 =Rs.1,66,667
   
   
    



10. Arun invests sum amount in the compound interest at 25 % for 5 years. At the end of five years he got Rs.2500 as an interest amount. If he invests in simple interest then what will be the interest amount on same sum for same period and rate
    Rs.2300
    Rs.2000
    Rs.1200
    Rs.2040
    RS.1600
    Option B
    C.I = P ( ( 1+25/100)2 – P)
    = 25P/16
    Given C.I = Rs2500
    P=Rs. 1600
    S.I = 1600 * 25*5/100
    =>S.I= Rs.2000