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Number of Questions: 10
Time: 10 Minutes
Category: Aptitude
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Question 1 of 30
1. Question
A bank offers 5% compound interest calculated on halfyearly basis. A customer deposits Rs. 1600 each on 1^{st}January and 1^{st} July of a year. At the end of the year, the amount he would have gained by way of interest is:
Correct
Answer: Option B
Explanation:
Amount= Rs. [1600*(1+)^2+1600(1+)]
= Rs.[1600**+1600*]
=Rs.[1600**+1)]
Rs.
= Rs. 3321.
C.I. = Rs. (3321  3200) = Rs. 121Incorrect
Answer: Option B
Explanation:
Amount= Rs. [1600*(1+)^2+1600(1+)]
= Rs.[1600**+1600*]
=Rs.[1600**+1)]
Rs.
= Rs. 3321.
C.I. = Rs. (3321  3200) = Rs. 121 
Question 2 of 30
2. Question
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Correct
Answer: Option A
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
=30000(1+)^n=34347
=(^n===()^2
n = 2 years.Incorrect
Answer: Option A
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
=30000(1+)^n=34347
=(^n===()^2
n = 2 years. 
Question 3 of 30
3. Question
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
Correct
Answer: Option C
Explanation:
Amount
= Rs.[25000*(1+)^3]
=Rs(25000*)
= Rs. 35123.20
C.I. = Rs. (35123.20 – 25000) = Rs. 10123.20Incorrect
Answer: Option C
Explanation:
Amount
= Rs.[25000*(1+)^3]
=Rs(25000*)
= Rs. 35123.20
C.I. = Rs. (35123.20 – 25000) = Rs. 10123.20 
Question 4 of 30
4. Question
Rs.100 doubled in 5 years when compounded annually. How many more years will it take to get another Rs.200 compound interest?
Correct
Correct Answer – B
Explanatory AnswerRs.100 invested in compound interest becomes Rs.200 in 5 years.
The amount will double again in another 5 years.
i.e., the amount will become Rs.400 in another 5 years.
So, to earn another Rs.200 interest, it will take another 5 years.
Incorrect
Correct Answer – B
Explanatory AnswerRs.100 invested in compound interest becomes Rs.200 in 5 years.
The amount will double again in another 5 years.
i.e., the amount will become Rs.400 in another 5 years.
So, to earn another Rs.200 interest, it will take another 5 years.

Question 5 of 30
5. Question
What will be the compound interest on Rs. 25000 after 3 years at the rate of 12 % per annum
Correct
Answer: Option A
Explanation:
25000*(1+)^3
25000*
=35123.20So Compound interest will be 35123.20 – 25000
= Rs 10123.20Incorrect
Answer: Option A
Explanation:
25000*(1+)^3
25000*
=35123.20So Compound interest will be 35123.20 – 25000
= Rs 10123.20 
Question 6 of 30
6. Question
A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years.
Correct
Answer: Option C
Explanation:
=[200 )]=662.02
Incorrect
Answer: Option C
Explanation:
=[200 )]=662.02

Question 7 of 30
7. Question
Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly
Correct
Answer: Option C
Explanation:Principal = Rs.16,000;
Time=9 months = 3 quarters;
Rate = 20%, it will be 20/4 = 5%So lets solve this question now,
Amount=1600(1+ )^3
=18522C.I=18522−16000=2522
Incorrect
Answer: Option C
Explanation:Principal = Rs.16,000;
Time=9 months = 3 quarters;
Rate = 20%, it will be 20/4 = 5%So lets solve this question now,
Amount=1600(1+ )^3
=18522C.I=18522−16000=2522

Question 8 of 30
8. Question
Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually
Correct
Answer: Option D
Explanation:
Please apply the formulaAmount=p
C.I. = Amount – P
Incorrect
Answer: Option D
Explanation:
Please apply the formulaAmount=p
C.I. = Amount – P

Question 9 of 30
9. Question
Albert invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.
Correct
Answer: Option D
Explanation:
=>(800*)=>
=>8820
Incorrect
Answer: Option D
Explanation:
=>(800*)=>
=>8820

Question 10 of 30
10. Question
In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually
Correct
Answer: Option B
Explanation:
Principal = Rs.1000;
Amount = Rs.1331;
Rate = Rs.10%p.a.Let the time be n years then,
1000(1+ = 1331
( =
=
So answer is 3 years
Incorrect
Answer: Option B
Explanation:
Principal = Rs.1000;
Amount = Rs.1331;
Rate = Rs.10%p.a.Let the time be n years then,
1000(1+ = 1331
( =
=
So answer is 3 years

Question 11 of 30
11. Question
Find the simple interest on Rs. 68,000 at 16 2/3% per annum for 9 months.
Correct
P = Rs.68000,R = 50/3% p.a and T = 9/12 years = 3/4years.
S.I. = (P*R*T)/100 = Rs.(68,000*(50/3)*(3/4)*(1/100))= Rs.8500
Incorrect
P = Rs.68000,R = 50/3% p.a and T = 9/12 years = 3/4years.
S.I. = (P*R*T)/100 = Rs.(68,000*(50/3)*(3/4)*(1/100))= Rs.8500

Question 12 of 30
12. Question
Find the simple interest on Rs. 3000 at 6 1/4% per annum for the period from 4th Feb., 2005 to 18th April, 2005.
Correct
Time = (24+31+18)days = 73 days = 73/365 years = 1/5 years.
P = Rs.3000 and R = 6 ¼ %p.a = 25/4%p.a
\S.I. = Rs.(3,000*(25/4)*(1/5)*(1/100))= Rs.37.50.
Incorrect
Time = (24+31+18)days = 73 days = 73/365 years = 1/5 years.
P = Rs.3000 and R = 6 ¼ %p.a = 25/4%p.a
\S.I. = Rs.(3,000*(25/4)*(1/5)*(1/100))= Rs.37.50.

Question 13 of 30
13. Question
A sum at simple interests at 13 ½ % per annum amounts to Rs.2502.50 after 4 years find the sum.
Correct
Let sum be Rs. x then , S.I.=Rs.(x*(27/2) *4*(1/100) ) = Rs.27x/50
\amount = (Rs. x+(27x/50)) = Rs.77x/50
\ 77x/50 = 2502.50 Û x = 2502.50 * 50 = 1625
77
Hence , sum = Rs.1625.
Incorrect
Let sum be Rs. x then , S.I.=Rs.(x*(27/2) *4*(1/100) ) = Rs.27x/50
\amount = (Rs. x+(27x/50)) = Rs.77x/50
\ 77x/50 = 2502.50 Û x = 2502.50 * 50 = 1625
77
Hence , sum = Rs.1625.

Question 14 of 30
14. Question
A sum of Rs. 800 amounts to Rs. 920 in 8 years at simple interest rate is increased by 8%, it would amount to bow much ?
Correct
S.l. = Rs. (920 – 800) = Rs. 120; p = Rs. 800, T = 3 yrs. _
. R = ((100 x 120)/(800*3) ) % = 5%.
New rate = (5 + 3)% = 8%.
New S.l. = Rs. (800*8*3)/100 = Rs. 192.
: New amount = Rs.(800+192) = Rs. 992.
Incorrect
S.l. = Rs. (920 – 800) = Rs. 120; p = Rs. 800, T = 3 yrs. _
. R = ((100 x 120)/(800*3) ) % = 5%.
New rate = (5 + 3)% = 8%.
New S.l. = Rs. (800*8*3)/100 = Rs. 192.
: New amount = Rs.(800+192) = Rs. 992.

Question 15 of 30
15. Question
Adam borrowed some money at the rate of 6% p.a. for the first two years , at the rate of 9% p.a. for the next three years , and at the rate of 14% p.a. for the period beyond five years. 1£ he pays a total interest of Rs. 11, 400 at the end of nine years how much money did he borrow ?
Correct
Let the sum borrowed be x. Then,
(x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400
Û (3x/25 + 27x/100 + 14x / 25) = 11400 Û 95x/100 = 11400 Û x = (11400*100)/95 = 12000.
Hence , sum borrowed = Rs.12,000.
Incorrect
Let the sum borrowed be x. Then,
(x*2*6)/100 + (x*9*3)/100 + (x*14*4)/100 = 11400
Û (3x/25 + 27x/100 + 14x / 25) = 11400 Û 95x/100 = 11400 Û x = (11400*100)/95 = 12000.
Hence , sum borrowed = Rs.12,000.

Question 16 of 30
16. Question
A certain sum of money amounts to Rs. 1008 in 2 years and to Rs.1164 in 3 ½ years. Find the sum and rate of interests.
Correct
S.I. for 1 ½ years = Rs.(11641008) = Rs.156.
S.l. for 2 years = Rs.(156*(2/3)*2)=Rs.208
Principal = Rs. (1008 – 208) = Rs. 800.
Now, P = 800, T = 2 and S.l. = 208.
Rate =(100* 208)/(800*2)% = 13%
Incorrect
S.I. for 1 ½ years = Rs.(11641008) = Rs.156.
S.l. for 2 years = Rs.(156*(2/3)*2)=Rs.208
Principal = Rs. (1008 – 208) = Rs. 800.
Now, P = 800, T = 2 and S.l. = 208.
Rate =(100* 208)/(800*2)% = 13%

Question 17 of 30
17. Question
At what rate percent per annum will a sum of money double in 16 years.
Correct
Let principal = P. Then, S.l. = P and T = 16 yrs.
\Rate = (100 x P)/(P*16)% = 6 ¼ % p.a.
Incorrect
Let principal = P. Then, S.l. = P and T = 16 yrs.
\Rate = (100 x P)/(P*16)% = 6 ¼ % p.a.

Question 18 of 30
18. Question
The simple interest on a sum of money is 4/9 of the principal .Find the rate percent and time, if both are numerically equal.
Correct
Let sum = Rs. x. Then, S.l. = Rs. 4x/9
Let rate = R% and time = R years.
Then, (x*R*R)/100=4x/9 or R^{2 }=400/9 or R = 20/3 = 6 2/3.
\Rate = 6 2/3 % ^{ }and Time = 6 2/3 years = 6 years 8 months.
Incorrect
Let sum = Rs. x. Then, S.l. = Rs. 4x/9
Let rate = R% and time = R years.
Then, (x*R*R)/100=4x/9 or R^{2 }=400/9 or R = 20/3 = 6 2/3.
\Rate = 6 2/3 % ^{ }and Time = 6 2/3 years = 6 years 8 months.

Question 19 of 30
19. Question
The simple interest on a certain sum of money for 2 l/2 years at 12% per annum is Rs. 40 less tban the simple interest on the same sum for 3 ½ years at 10% per annum. Find the sum.
Correct
Let the sum be Rs. x Then, ((x*10*7)/(100*2)) – ( (x*12*5)/(100*2)) = 40
Û (7x/20)(3x/10)=40
Ûx = (40 * 20) = 800.
Hence, the sum is Rs. 800.
Incorrect
Let the sum be Rs. x Then, ((x*10*7)/(100*2)) – ( (x*12*5)/(100*2)) = 40
Û (7x/20)(3x/10)=40
Ûx = (40 * 20) = 800.
Hence, the sum is Rs. 800.

Question 20 of 30
20. Question
A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs. 360 more. Find the sum.
Correct
Let sum = P and original rate = R.
Then, [ (P*(R+2)*3)/100] – [ (P*R*3)/100] = 360.
Û 3PR + 6P – 3PR = 36000 Û 6P=36000 Û P=6000
Hence, sum = Rs. 6000.
Incorrect
Let sum = P and original rate = R.
Then, [ (P*(R+2)*3)/100] – [ (P*R*3)/100] = 360.
Û 3PR + 6P – 3PR = 36000 Û 6P=36000 Û P=6000
Hence, sum = Rs. 6000.

Question 21 of 30
21. Question
What annual installment will discharge a debt of Rs. 1092 due in 3 years at 12% simple interest?
Correct
Let each Instalment be Rs. x
Then, ( x+ ((x*12*1)/100)) + (x+ ((x*12*2)/100) ) + x = 1092
Û ((28x/25) + (31x/25) + x) = 1092 Û (28x+31x+25x)=(1092*25)
Û x= (1092*25)/84 = Rs.325.
\ Each instalment = Rs. 325.
Incorrect
Let each Instalment be Rs. x
Then, ( x+ ((x*12*1)/100)) + (x+ ((x*12*2)/100) ) + x = 1092
Û ((28x/25) + (31x/25) + x) = 1092 Û (28x+31x+25x)=(1092*25)
Û x= (1092*25)/84 = Rs.325.
\ Each instalment = Rs. 325.

Question 22 of 30
22. Question
A sum of Rs. 1550 is lent out into two parts, one at 8% and another one at 6%. If the total annual income is Rs. 106, find the money lent at each rate.
Correct
Let the sum lent at 8% be Rs. x and that at 6% be Rs. (1550 – x).
\((x*8*1)/100) + ((1550x)*6*1)/100=106
Û8x + 9300 –6x=10600 Û 2x = 1300 Û x = 650.
\ Money lent at 8% = Rs. 650. Money lent at 6% = Rs. (1550 – 650) = Rs. 900.
Incorrect
Let the sum lent at 8% be Rs. x and that at 6% be Rs. (1550 – x).
\((x*8*1)/100) + ((1550x)*6*1)/100=106
Û8x + 9300 –6x=10600 Û 2x = 1300 Û x = 650.
\ Money lent at 8% = Rs. 650. Money lent at 6% = Rs. (1550 – 650) = Rs. 900.

Question 23 of 30
23. Question
Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.
Correct
Amount = Rs [7500*(1+(4/100)^{2}] = Rs (7500 * (26/25) * (26/25)) = Rs. 8112.
therefore, C.I. = Rs. (8112 – 7500) = Rs. 612.
Incorrect
Amount = Rs [7500*(1+(4/100)^{2}] = Rs (7500 * (26/25) * (26/25)) = Rs. 8112.
therefore, C.I. = Rs. (8112 – 7500) = Rs. 612.

Question 24 of 30
24. Question
Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually.
Correct
Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.
Amount = Rs’. [8000 X (1+(15/100))^{2 }X (1+((1/3)*15)/100)]
=Rs. [8000 * (23/20) * (23/20) * (21/20)]
= Rs. 11109. .
:. C.I. = Rs. (11109 – 8000) = Rs. 3109.
Incorrect
Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.
Amount = Rs’. [8000 X (1+(15/100))^{2 }X (1+((1/3)*15)/100)]
=Rs. [8000 * (23/20) * (23/20) * (21/20)]
= Rs. 11109. .
:. C.I. = Rs. (11109 – 8000) = Rs. 3109.

Question 25 of 30
25. Question
Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded halfyearly.
Correct
Principal = Rs. 10000; Rate = 2% per halfyear; Time = 2 years = 4 halfyears.
Amount =
Rs [10000 * (1+(2/100))^{4}] = Rs(10000 * (51/50) * (51/50) * (51/50) * (51/50))
= Rs. 10824.32.
:. C.I. = Rs. (10824.32 – 10000) = Rs. 824.32.
Incorrect
Principal = Rs. 10000; Rate = 2% per halfyear; Time = 2 years = 4 halfyears.
Amount =
Rs [10000 * (1+(2/100))^{4}] = Rs(10000 * (51/50) * (51/50) * (51/50) * (51/50))
= Rs. 10824.32.
:. C.I. = Rs. (10824.32 – 10000) = Rs. 824.32.

Question 26 of 30
26. Question
Find the compound interest on Rs. 16,000 at 20% per annum for 9 months,compounded quarterly.
Correct
Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))^{3}] = Rs. 18522.
 = Rs. (18522 – 16000) = Rs. 2522.
Incorrect
Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))^{3}] = Rs. 18522.
 = Rs. (18522 – 16000) = Rs. 2522.

Question 27 of 30
27. Question
If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
Correct
Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 – = Rs. 9261.
.. C.I. = Rs. (9261 – 8000) = Rs. 1261.
Incorrect
Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 – = Rs. 9261.
.. C.I. = Rs. (9261 – 8000) = Rs. 1261.

Question 28 of 30
28. Question
In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?
Correct
Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^{n }] = 1331 or (11/10)^{n = }(1331/1000) = (11/10)^{3}
n = 3 years.
Incorrect
Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^{n }] = 1331 or (11/10)^{n = }(1331/1000) = (11/10)^{3}
n = 3 years.

Question 29 of 30
29. Question
If Rs. 600 amounts to Rs. 683.20 in two years compounded annually, find the rate of interest per annum.
Correct
Principal = Rs. 500; Amount = Rs. 583.20; Time = 2 years.
Let the rate be R% per annum.. ‘Then,
[ 500 (1+(R/100)^{2 }] = 583.20 or [ 1+ (R/100)]^{2 = }5832/5000 = 11664/10000
[ 1+ (R/100)]^{2 }= (108/100)^{2} or 1 + (R/100) = 108/100 or R = 8
So, rate = 8% p.a.
Incorrect
Principal = Rs. 500; Amount = Rs. 583.20; Time = 2 years.
Let the rate be R% per annum.. ‘Then,
[ 500 (1+(R/100)^{2 }] = 583.20 or [ 1+ (R/100)]^{2 = }5832/5000 = 11664/10000
[ 1+ (R/100)]^{2 }= (108/100)^{2} or 1 + (R/100) = 108/100 or R = 8
So, rate = 8% p.a.

Question 30 of 30
30. Question
If the compound interest on a certain sum at 16 (2/3)% to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.
Correct
Let the sum be Rs. x. Then,
C.I. = [ x * (1 + (( 50/(3*100))^{3} – x ] = ((343x / 216) – x) = 127x / 216
127x /216 = 1270 or x = (1270 * 216) / 127 = 2160.
Thus, the sum is Rs. 2160
S.I. = Rs ( 2160 * (50/3) * 3 * (1 /100 ) ) = Rs. 1080.
Incorrect
Let the sum be Rs. x. Then,
C.I. = [ x * (1 + (( 50/(3*100))^{3} – x ] = ((343x / 216) – x) = 127x / 216
127x /216 = 1270 or x = (1270 * 216) / 127 = 2160.
Thus, the sum is Rs. 2160
S.I. = Rs ( 2160 * (50/3) * 3 * (1 /100 ) ) = Rs. 1080.