Simple Interest and Compound Interest
Directions for questions I to 75: Select the correct alternative from the given choices.
1. The simple interest on a certain sum of money at 4% p.a. for 3 years is Rs 2,800. The sum is (1) Rs 24,000 (2) Rs 20.000 (3) Rs 18,000 (4) Rs 16,000 2. The simple interest on a sum of money at 4% p.a. for 2 years is Rs 3,750. The sum is (1) Rs 64,875
(2) Rs 46,875
(3) Rs 84,675
(4) Rs 48.675 3. If Rs 80 amounts to Rs 104 in three years at simple interest, then how much will Rs 120 amount to in four years at the same rate? (1) Rs 208
(2) Rs 48 (3) Rs 256
(4) Rs 168
4.What sum of money will earn a simple interest of Rs 38,400 in five years at the rate of 16% p.a.? (1) Rs 7,680 (4) Rs 9.600
(2) Rs 48,000
(3) Rs 30,720
5.A sum amounts to Rs 66,000 in five years at 13% p.a. simple interest. What is the sum? (1) Rs 50,000
(2) Rs 40,000
(3) Rs 55,000
(4) Rs 45,000 6. A sum doubles itself in 6 years and 3 months at sim-ple interest. The rate of interest per annum is (1)12% (2)15%
(3)16%
(4)18%
7. A sum of Rs 800 amounts to Rs 1,040 in four years at simple interest. By how many percentage points should the rate of interest per annum be increased so that Rs 1,200 would amount to Rs 2,400 in 8 years? (1)4
(2)8
(3)5
(4) None of these
8. A sum of money triples itself in 18 years under simple interest. What is the rate of interest per annum? (1) 9.09%(2) 11.11%
(3) 9%
(4) 18%
9. A certain sum amounts to Rs 6,300 in two years and to Rs 7.875 in three years nine months at simple interest. Find the rate of interest per annum. (1) 10% (2) 15% (3) 18% (4) 20% 10. A man invested 1/5th of his capital at 5% p.a., 3/4th of his capital at 12% p.a. and the remaining at 20% p.a., all at simple
interest. If his annual income from interest is Rs 660, then the amount invested by the man is (1) Rs 7,500
(2) Rs 10,000
(3) Rs 6,000
(4) Rs 9,000 11. A certain sum becomes 7/3 times itself in ten years under simple interest. Find the rate of interest. (1) 7'/2% p.a.
(2) 13)/3% p.a.
(3) 20% p.a.
(4) 10% p.a. 12. A sum of Rs 1,200 amounts to Rs 1,800 in ten years under simple interest. What should be the rate of interest so that the same sum amounts to Rs 1.800 in eight years under simple interest'? (1) 12.5%(2) 25% (3) 6.25%(4) 18% 13. A sum of money quadruples at a certain rate of com¬pound interest in six years. In how many years will it become sixteen times itself? (1) 10
(2) 12
(3) 18
(4) 24
14. The difference between the simple interest and the compound interest on a sum of Rs 5,00,000 for two years is Rs 2.500. Find the rate of interest, if it is compounded annually (approximately).
(1) 6%
(2) 7%
(3) 8%
(4) 10%
15. A sum of money doubles itself in six years at cer¬tain rate of simple interest. How much does the sum amount to in nine years? (1) 2 times the principal
(2) 3 times the principal
(3) 3 times the principal (4) 4 times the principal 16. How much will Rs 18,000 amount to in two years at 16% p.a. compound interest? (1) Rs 24,200.8
(2) Rs 22.004.8
(3) Rs 24,220.8
(4) Rs 22,400.8 17. How much will Rs 7,500 amount to in two years at the rate of 12% p.a. compound interest? (1) Rs 8,904
(2) Rs 9,048
(3) Rs 9,408
(4) Rs 9,804
18. If the compound interest on a certain sum of money for 2 years is Rs 2,100, what would be the corresponding simple interest, given the rate of interest is 10% p.a.? (1) Rs 1,800
(2) Rs 2,000
(3) Rs 2.040
(4) Rs 1,600
19. A certain sum was lent at simple interest for a period, which in terms of years is numerically equal to the rate of interest per
annum. If the interest earned was equal to 9/16th part of the sum, what is the rate of interest per annum? (1) 15% (2) 7.5% (3) 22.5%(4) 21.25% 20. Find the ratio of simple interest for two and half years at 18% p.a. to compound interest for two year at 20% p.a. on the same sum of money. (1) 45 : 44
(2) 16 : 15
(3) 8 : 7 (4) 25 : 24
21. If the compound interest on a certain sum of money at 16% p.a. for 2 years is Rs.6,048. what will be the simple interest on the same sum for the same period- and at the same rate of interest? (I) Rs 5,600
(2) Rs 5,400
(3) Rs 5,750
(4) Rs 5,250
22. Find the compound interest on a sum of Rs 6.000 at, 16% p.a. for 9 months when interest is compounded quarterly (approximately). (1) Rs 762.8
(2) Rs 854.1
(3) Rs 749.2
(4) Rs 924.1
23. Anurag borrowed a total sum of Rs 8.000 from two banks A and B. Bank A lends at 12% p.a. and bank B at 10% p.a., both at simple interest. After two years he paid a total interest of Rs 1,816. What sum did Anurag borrow from bank A? (1) Rs 4,400
(2) Rs 2,600
(3) Rs 3,600
(4) Rs 5,400
24. The rate of interest on a sum of money for the first two years is 6% p.a., for the next two years it is 7%p.a. and it is 8% p.a. for the period exceeding for years; all at simple interest. If a person earns an interest of Rs 7.536 by the end of the seven years, what is the amount at the end of the period of investment? (1) Rs 15,072
(2) Rs 11,304
(3) Rs 22,608
(4) Rs 21,308 25. A sum amounts to Rs 8,640 in three years at 20% p.a.compound interest. Find the sum. (1) Rs 7.500
(2) Rs 5,000
(3) Rs 6,000
(4) Rs 4,500
26. What is the ratio of compound interest accrued in two years at 8% p.a. to the simple interest accrued in three years at 16% p.a., both calculated on the same sum of money? (1)12 :
25
(2)26 :
75
(3)18 :
25
(4)31
:
75 27. A sum amounts to Rs 6,962 in two years at com¬pound interest. What is the rate of interest if the sum invested is Rs 5,000? (1) 12% p.a.
(2) 15% p.a.
(3) 16% p.a.
(4) 18% p.a.
28. What annual installment will discharge a debt of Rs 26,400, due in four years at 15% p.a. simple interest. each installment being paid at the beginning of each year? (1) Rs 5,388
(2) Rs 3,600
(3) Rs 4,800
(3) Rs 3,200
29. A sum of Rs 5,000 lent on simple interest amounts to Rs 5,700 in two years. If the rate of interest is increased by four percentage points, then what would the sum amount to in the same period? (1) Rs 5,980
(2) Rs 6.100
(3) Rs 5,900
(4) Rs 6,300
30. Find the difference in the compound interest at 40% p.a. when it is compounded on Rs 20,000 for one year, when the interest is compounded half yearly and quarterly. (1) Rs 284
(2) Rs 364
(3) Rs 482
(4) Rs 436
31. A sum of Rs 8,000, invested at compound interest, doubles in five years. After twenty years it becomes (1) Rs 96,400
(2) Rs 1,28,000
(3) Rs 78,000
(4) Rs 1,44,000 32.A sum of Rs 6.000 amounts to Rs 6,489.60 in two Years at compound interest, interest being compounded annually. Find the rate of interest.
(1) 4% p.a.
(2) 6% p.a.
(3) 8% p.a.
(4) 2% p.a. 33. A tree grows annually by
th of its height. If the height of
the tree at present is 400 cm, then what will be its height after three years? (1) 463.05
(2) 684.4
(3) 612.4
(4) 618.6
34. Two equal sums were lent, one at the rate of 11% p.a. for five years and the other at the rate of 8% p.a. for six years, both under simple interest. If the difference in the interest accrued in the two cases is Rs 1,008, find the sum. (1) Rs 11,200
(2) Rs 5,600
(3) Rs 12,600
(4) Rs 14,400 35. The value of a car depreciates at the rate of 12% p.a. every year. If the present value of the car is Rs 1,54,880, its value two years ago was (1) Rs 3,60,000
(2) Rs 2,40,000
(3) Rs 2,00,000
(4) Rs 3,00,000 36. A sum of Rs 7,500 invested at compound interest doubles in five years. After 20 years it becomes
(1) Rs 1,50,000
(2) Rs 60,000
(3) Rs 1,20,000
(4) Rs 90.000 37. A sum of money becomes Rs 29,282 in four years and Rs 32,210.20 in five years at compound interest. The sum is (1) Rs 15,000
(2) Rs 20,000
(3) Rs 16,000
(4) Rs 18.000 38. The value of a machine depreciates at the rate of 15% p.a. If the present value of the machine, which is more than two years old, is Rs 28,900, then its value two years ago was (1) Rs 36,000
(2) Rs 45,000
(3) Rs 42,000
(4) Rs 40,000 39. In how many years will a sum of money, when invested at 25% p.a. compound interest compounded annually, becomes approximately one and half times itself? (1) 1 (2) 2 (3) 3 (4) 4 40.A certain amount is lent at x% p.a. simple interest for two years. Instead, if the amount was lent at 2x% p.a. simple interest for y more years, then the interest would have been five times the earlier interest. What is the value of y? (1) 2 (2) 3 (3) 4 (4) 5
41. The population of a town is 6,00,000. If it decreases every year by 5% p.a, what will be its population after two years? (1) 5,27.000
(2) 5,32,500
(3) 5,41,500
(4) 5,37,500
42. What annual instalment will discharge a debt of Rs 9,920, due in four years at 16% p.a. simple interest, if the instalments are paid at end of each year? (1) Rs 2,000
(2) Rs 2,400
(3) Rs 2,500
(4) Rs 3,000
43. The simple interest on a sum of money at 16% p.a. for five years will be (1)Four-fifths of the sum (2)Two-thirds of the sum (3)Half of the sum
(4)Three-fourths of the sum,
44. The simple interest on a sum of money at 20% p.a. for ten years will be (1)Half the sum
(2)Equal to the sum
(3)Twice the sum (4)Thrice the sum 45. A sum of Rs 23,000 was lent for five years under sim¬ple interest of 6% p.a., 8% p.a., 7% p.a., 4% p.a., and 5% p.a. for each of the five successive years. What is the amount received at the end of the five years? (1) Rs 25,300 (4) Rs 29,900
(2) Rs 27,600
(3) Rs 23,000
46. Two equal sums are deposited in two banks—one at 16% p.a. and the other at 18% p.a. simple interest, for two years. If the difference in the interests earned on the two sums is Rs 60, then find the total sum invested. (1) Rs 1,800
(2) Rs 2,000
(3) Rs 1,500
(4) Rs 3,000
47. Two sums are in the ratio of 4: 5, the respective rates of interest per annum are in the ratio 7 : 8 and the respective periods of investment are in the ratio 5 3. The ratio of the simple interests earned on these sums in the same order is (1) 12 : 19
(2) 19 : 12
(3) 7 : 6 (4) 6 : 7
48. Two sums are in the ratio of 2 : 3. The respective rates of interest per annum are in the ratio of 4 : 5 and the respective periods of investment are in the ratio of 1 : 2. The ratio of the simple interests earned or these sums in the same order is (1) 4 :
15
(2)8:15
(3)3 :
4
(4)7 :
10
49.What is the compound interest on a sum of Rs 7,50( invested at 10% p.a. interest being compounded annually for two years and eight months? (1) Rs 2.180 Rs 2,712.50
(2) Rs 2,234.50
(3) Rs 2,318.50
(4)
50.Three-fourths of a sum is lent at 12% p.a. and the rest is lent at 24% per annum, both at simple interest. If the interest earned on the smaller sum for two years is Rs 4.800, then what is the interest earned on the larger sum for three years? (1) Rs 14,400
(2) Rs 10,800
(3) Rs 7,200
(4)
Rs 18,000 51.The compound interest for two years on a sum Rs.15,000 at the rate of 20% p.a. for the first year and 12% p.a. for the second year is what fraction of the sum? (1) 16/23
(2) 73/140
(3) 43/125
(4)
57/130 52.A man borrows a sum of Rs 40,000 at 15% p.a. compound interest, interest being compounded annually for a period of two years. If the man repays Rs 25,000 at the end of the first year, how much should he repeat the end of second year to clear the debt? (1) Rs 24,150 (2) 73/140
(3) Rs 23,250 (4)
57/130 53. The amount payable at the end of two years on a sum of Rs 1,20,000 is Rs 1,62,000. If the interest is compounded every
year and the rate of interest for the first year is 25%, what is the rate of interest for the second year? (1) 12% (2) 10% (3) 9%
(4) 8%
54. A sum of money amounts to Rs 36,000 in three years and Rs 48,000 in four years at compound interest compounded annually in each case. What is of interest per annum? (1) 25% (2) 20% (3) 33 % (4) 66 % 55. A sum amounts to Rs 56,000 in five years, Rs 64,000 in six years under compound interest pounded annually. What is the rate of interest? (1) 8.33% p.a
(2) 12.5% p.a. (3) 14.28% p.a.
(4)
16.67% p.a. 56. A certain sum, becomes 1,728 times itself in three years when interest is compounded annually. What is the annual rate of interest at which the sum is invested? (1)10% (2)17.28%
(3)14.4% (4)20%
57. A sum of Rs P amounts to Rs 9P/4 in five years at simple interest. If the rate of interest is decreased by ten percentage points how much interest will the same sum yield in the same time?
(1) Rs
(2) Rs
(3) Rs
(4) Rs
58.Two sums which are lent at simple interest are in the ratio of 2 : 3, the respective rates of interest per annum are in the ratio of 1: 2 and the respective periods of investment are in the ratio of 3: 1. What is the ratio of interest earned in the given order? (1)1:2
(2)1:1
(3)3 :1
(4)2 :3 59. The rate of simple interest on a sum of money is 6% p.a. for the first two years, 10% p.a. for the next three years and 9% p.a. for the period beyond the first five years. If the interest accrued on a sum for eight years is Rs 2.070, then find the sum. (1) Rs 6,000
(2) Rs 5,000
(3) Rs 4,000
(4) Rs 3,000 60. Two equal sums were lent at simple interest for four years and nine years at respective interest rates of 6% p.a. and 10% p.a. If the difference in interests earned on the two sums is Rs 1,320, then find each of the equal sums. (1) Rs 1,500
(2) Rs 2,500
(3) Rs 2,000
(4) Rs 4,000
61. The rate of simple interest on a sum of money is ,8% p.a. for the first two years, 10% p.a. for the next three years and 6% p.a.
for the period beyond the first five years. If the simple interest accrued on a sum for a Period of eight years is Rs 12,800, then find the sum. (1) Rs 20,000
(2) Rs 16,000
(3) Rs 15,000
(4) Rs 24,000 62. What is the compound interest payable on a sum of Rs 18,000 for two years eight months, if the rates of interest for the first, second and third years are 12%, 15% and 30% respectively? (1) Rs 8,208
(2) Rs 9,820.80
(3) Rs 10,260
(4) Rs 8,460 63. If the simple interest on a sum of money at twelve percent per annum for two years is Rs 3.600, the compound interest on the same sum for the same period at the same rate is (1) Rs 3,500
(2) Rs 3,600
(3) Rs 3,816
(4) Rs 3,675 64. A person lent a certain sum of money at 10% p.a. simple interest for 4 years. The interest received by the person is Rs 6,000 less than the sum lent. What is the sum lent? (1) Rs 12,000 (4) Rs 10,000
(2) Rs 8,000
(3) Rs 9,000
65. The difference between the interests received from two different banks on a sum of Rs 60,000 for two years is Rs 1,500. Find the difference of the interest rates of the two banks in percentage points.
(1)1.25
(2)1.5
(3)0.5
(4)0.75
66. The difference between the interests received from two different banks on Rs 8.000 for two years is Rs 20. Find the difference of the interest rates of the two banks in percentage points. (1)5
(2)0.75
(3)0.125 (4)1
67. A certain sum was lent at 16% p.a. interest com-pounded annually. It yields an interest of Rs 8,256 for one year three months. Find the sum. (1) Rs 41,280
(2) Rs 23,888
(3) Rs 40,000
(4) Rs 25,800 68. What is the difference in the simple interest and the compound interest accrued on a sum of Rs 38.000 at 13% p.a. for two years? (1) Rs 1,980 (4) Rs 9,880
(2) Rs 4,940
(3) Rs 642.20
69. If the difference of the simple interest and the com-pound interest on a certain sum at 15% p.a. for two years is Rs 360, find the sum. (1) Rs 20,000 (2) Rs 16,000
(3) Rs 15,000 (4) Rs
24,000 62. What is the compound interest payable on a sum of Rs 18,000 for two years eight months, if the rates of (1) Rs 2,400
(2) Rs 20,000
(3) Rs 16,000
(4) Rs 4,800 70. The simple interest obtained on a sum for a certain period of time (in years) which is numerically equal to the rate of interest is 2.56 times the principal. What is the interest obtained when a sum of Rs 20,000 is lent at the same rate of interest for five years? (1) Rs 51,200
(2) Rs 20,000
(3) Rs 15,000
(4) Rs 16,000
71. A sum of Rs 12,000 is borrowed for a period of three years at simple interest, the rate of interest being 5%, 10% and 6% p.a. respectively for the first, second and third years Find the interest accrued.
(1) Rs 2,400
(2) Rs 2,520
(3) Rs 1,840
(4) Rs 1,960 72. A sum of Rs 5,000 amounts to Rs 6,200 in one year at simple interest. If the rate of interest is reduced by six percentage points, then how much will the sum amount to in three years at simple interest? (1) Rs 6,200
(2) Rs 7.200
(3) Rs 7,700
(4) Rs 8.700 73. What effective rate of interest will a person get if the compound interest at 30% p.a. is compounded half- yearly instead of annually? (1) 32.25%
(2) 33.75%
(3) 31.25%
(4) 33.25% 74. A certain sum is lent at 11% p.a. simple interest for six years. The interest received is less than the sum by Rs 2,720. What is the sum? (1) Rs 5,280
(2) Rs 8,000
(3) Rs 9,600
(4) Rs 4,121.21 75. Ajay lent a certain sum of money to Bhanu at 12% p.a. under simple interest for three years. The interest received by Ajay is less than the sum by Rs 5.760. What is the sum?
(1) Rs 8.000
(2) Rs 9,000
(3) Rs 12,000
(4) Rs 6,000
Directions for questions 1 to 50: Select the correct alternative from the given choices.
1.A sum of Rs 13,000 is divided into three parts such that the simple interests accrued on them for two, three and four years respectively may be equal. Find the smallest part, if the rate of simple interest is 8% p.a. in all the cases. (1) Rs 3,600
(2) Rs 2,400
(3) Rs 3,000
(4) Rs 4,500 2. Two equal sums are lent at the rates of 12% p.a. and 10% p.a. simple interest respectively. The former is recovered a year earlier than the latter and the amount in each case is Rs 25,600. What was the period of lending for which former sum was lent? (1) 4
(2) 3
(3) 5
(4) 6
3. A man borrowed Rs 4,00,000 to buy a house. He pays compound interest at 6% p.a., interest being compounded annually. He lets out the house and receives rent at Rs 3,000 per month, rent payable at the end of the year. He uses this money to clear the loan. After two years of such repayment, how much does he still have to pay to clear the debt? (1) Rs 3,16,000
(2) Rs 3,24,000
(3) Rs 3,25,000
(4) Rs 3,75,280 4. A sum of Rs 100 is lent at simple interest of 3% p.a. for the first month. 9% p.a. for the second month, 27% p.a. for the third month and so on. What is the total amount of interest earned at the end of one year approximately? (1) Rs 7,97,160
(2) Rs 7,91,160
(3) Rs 65,930 (4) Rs
66,430 5. The difference in compound interest accrued on Rs 20,000 for one year at 6% p.a. when interest is compounded yearly and when it is compounded half- yearly is (1) Rs 32 (2) Rs 15 (3) Rs 18 (4) Rs 21
6. The compound interest payable on a sum of Rs 32,000 at the end of two years is Rs.6,720. If the rate of interest for the first year is 10% p.a. and interest is compounded annually, then find the rate of interest for the second year. (1) 15% (2) 12% (3) 10% (4) 8% 7. A man borrows a sum of Rs 50,000 for two years at 20% p.a. compound interest, interest being compounded annually. If he repays Rs 24,000 at the end of the second year and clears the debt, how much did he pay at the end of the first year? (1) Rs 30.000
(2) Rs 32,000
(3) Rs 40.000
(4) Rs 37,500 8. What is the minimum period of investment, in whole number of years, in which a sum invested at 20% p.a., interest being compounded annually, becomes ten times itself? (log2 = 0.3010, log3 = 0.4771) (1) 14
(2) 15
(3) 13
(4) 12
9. A sum of Rs 50,000 is split into two parts, one part being lent at simple interest and other part being lent at compound interest, interest being compounded annually. At the end of two years, the total interest earned on the sum is Rs 12.216. Find the sum
lent at compound interest, if both the parts are lent at an interest rate of 12% p.a. (1) Rs 30.000
(2) Rs 15,000
(3) Rs 20,000
(4) Rs 35,000 10. If the simple interest on a sum of money at 10% p.a. for four years is Rs 2,400, then the compound inter-est on the same sum for the same period at the same rate, when interest is compounded annually is (1) Rs 2847.60(2) Rs 7248.80(3) Rs 2784.60(4) Rs 4284.70 11. A person takes a loan of Rs 9,000 at a certain rate of compound interest. He repays Rs 6,000 at the end of the first year and Rs 5,760 at the end of the second year and clears the debt. If the rate of interest is the same in both the years, then find the rate of interest, given that interest is compounded annually. (1) 10% (2) 15% (3) 16% (4) 20% 12. Find the least whole number of years in which a sum of money invested at 16% compound interest p.a. will become more than double itself, given that inter-est is compounded annually. (1) 3
(2) 8
(3) 4
(4) 5
13. Mansi borrows a sum of Rs 72.000 at 10% compound interest p.a., compounding done annually. At the end of the first year, she repays some money and repays the remaining amount of Rs 34,320 at the end of the second year to clear the entire loan. What is the amount she repaid at the end of the first year? (1) Rs 44,880
(2) Rs 48,000
(3) Rs 52.080
(4) Rs 40,800 14. An amount of Rs 41,000 is divided into three parts and each part is lent at the interest rates of 6% p.a., 10% p.a.and 2% p.a., respectively under simple inter-est for 6 years, 3 years and 3 years respectively. The interest obtained in all the cases is equal. What is the sum lent at 10% p.a.? (1) Rs 5,000
(2) Rs 6,000
(3) Rs 30,000
(4) None of these 15. A certain sum yields a simple interest of Rs 21,600 in two years. Had it been invested at compound interest and at the same rate, it would have fetched Rs 1,296 more interest for the same period. Find the amount accrued after three years under compound interest, if it is compounded annually. (1) Rs 1,26,443.50 (2) Rs 1,14,192 (4) Rs 1.36,442.50
(3) Rs 12,300
16. A man borrowed rupees five lakhs at 10% p.a. simple interest to buy a house. He lets it out at a monthly rent of Rs 8,500, payable at the end of the year, and uses this annual rental money to clear the debt. What will be the balance of the principal to be repaid at the beginning of the fourth year? (1) Rs 6,00,000
(2) Rs 3,96.000
(3) Rs 1,94,000
(4) Rs 3,60,000 17. A certain sum of money would fetch Rs 482 more in a period of 2 years if the interest were payable half- yearly than if it were payable yearly. Find the sum if the rate of compound interest is 20% p.a. (1) Rs 10.000
(2) Rs 20.000
(3) Rs 40,000
(4) Rs 80.000 18. Two equal sums are lent at the rates of 12% and 15% p.a. simple interest respectively. The latter is recovered one year earlier than the former and the amount in each case is Rs 8,000. What is the period of lending for which latter sum was lent? (1) 4 years
(2) 5 years
(3) 6 years
(4) 3 years
19. Sarathi borrows a sum of Rs 36,000 at 15% p.a. interest compounded annually. At the end of the first and the second
years, he repays Rs 18.000 each. What is the amount he has to repay at the end of the third year to clear the debt? (1) Rs 10,246.50
(2) Rs 8,910
(3) Rs 16,200
(4)
Nil 20. A sum of Rs 32,000 yields an interest of Rs 5,632 at compound interest, compounded annually for two years. The rates of interest for the two years being different. Find the rate of interest for the second year, if the rate of interest for the first year is 5% p.a. (1) 15% p.a.
(2) 12% p.a.
(3) 12.5% p.a. (4)
24% p.a. 21. A sum of money doubles itself at a certain rate of compound interest, compounded annually in six years. In approximately how many years will it triple itself at the same rate of compound interest? (log3 log2 = 1.5850) (1) 11
(2) 9
(3) 9
(4) 12
22. Find the least whole number of years in which a sum of money will be more than doubled, at 10% p.a. compound interest compounded annually. (given log2 = 0.3010 and log(1.1) = 0.0413)
(1) 7
(2) 6
(3) 5
(4) 8
23.A man takes a loan of Rs 10,000 at simple interest. He pays Rs 5,000 at the end of the first year and Rs 6,500 at the end of the second year and clears the debt. If the rate of interest is the same in both the years, find the rate of interest. (1) 15% p.a.
(2) 10% p.a.
(3) 8% p.a.
(4) 12% p.a. 24. If the simple interest on a sum of money at 5% p.a. for four years is Rs 6,000, then find the correspond-ing compound interest on the same sum at the same rate of interest for 3 years (1) Rs 4,278.25
(2) Rs 4,728.75
(3) Rs 3,975.75
(4) Rs 4,475.75 25. A person takes a loan of Rs 6,000 at compound interest, compounding done annually. He repays Rs 3,300 at the end of the first year and Rs 3,150 at the end of the second year and clears the debt. If the rate of interest is the same in both the years, find the rate of interest. (1) 10% p.a.
(2) 8% p.a.
(3) 5% p.a.
(4) 6% p.a. 26. The compound interest charged on a sum of Rs 15,000 is 10% p.a. for the first year, 12% p.a. for the second year and 14%
p.a. for the third year. interest being compounded annually in all the cases. What is the total interest payable at the end of two and half years? (1) Rs 4,773.60
(2) Rs 3,273
(3) Rs 6,067.20
(4) Rs 5,268 27. Tapan invests 1/3rd of his capital at 15% p.a., 1/6th at 10% p.a. and the remaining amount at 5% p.a.. all under simple interest. At the end of three years he earns a total interest of Rs 2,640. What is Tapan's capital? (1) Rs 66,000
(2) Rs 9,600
(3) Rs 15,086
(4) Rs 8,000 28. Find the difference between the interest on a sum of Rs 100 when interest is calculated at 10% p.a. for a period of 2 years at simple interest and compound interest payable half yearly. (1) Rs 1
(2) Rs 1.5
(3) Rs 1.55
(4) Rs
1.65 29. A certain sum was lent at compound interest, com-pounded annually for three years. The rates of interest for each of the three years was 20%, 15% and 10% p.a. respectively. If the same sum was lent at a con¬stant rate of simple interest for the
same period, then what would have been the interest rate for obtaining the same amount of interest? (1) 17.27% p.a.
(2) 17% p.a.
(3) 15% p.a.
(4) 20% p.a. 30. A sum of Rs 23,500 is divided into three parts such that the simple interest on them for three, four and five years may be equal. Find the lamest part, if the rate of simple interest is 10% p.a. in all the cases. (1) Rs 6.000
(2) Rs 7,500
(3) Rs 10.000
(4) Rs 15,000 31. Rs 6,400 amounts to Rs 7,840 in two years at simple interest. How much will a sum of Rs 84 invested at the same rate of simple interest amount to in four years? (1) Rs 120.80
(2) Rs 111.20
(3) Rs 112.20
(4) Rs 121.80 32. A man invested 2/5th of his capital at 10% per annum, 1/4th at 12% per annum and the remaining amount at 6% p.a. If his annual interest earnings from this was Rs 910, the capital invested by the man was (1) Rs 10,000 (4) Rs 15,000
(2) Rs 12.000
(3) Rs 13,000
33. What is the ratio of compound interest accrued on a certain sum in two years at 16% p.a. to the simple interest accrued on the same sum in three years at 20% p.a.? (1) 0.576
(2) 0.728
(3) 0.832
(4) 0.648
34. A sum of Rs 12,000 invested at compound interest triples in eight years. After sixteen years it becomes (1) Rs 1,44,000
(2) Rs 1,20.000
(3) Rs 1,08.000
(4) Rs 96,000 35. The interest charged on a sum of Rs 25,000 is 12% per annum, compounded every four months. What is the interest due after twelve months? (1) Rs 9,000
(2) Rs 3,000
(3) Rs 3,121.60
(4) Rs 3,262.80 36. The compound interest payable on a sum ofRs 18,000 at the end of two years is Rs 4,374. If the rate of interest for the first year is 10% p.a., then what is the rate of interest for the second year? (1) 13% p.a.
(2) 14.5% p.a. (3) 15% p.a.
(4) 12% p.a.
37. A man borrows a sum of Rs 15,000 at 14% p.a. at compound interest. If he repays some money at the end of the first year and Rs 8,094 at the end of the second year to clear the
debt, what is the amount of money he repaid at the end of the first year? (1) Rs 9,000
(2) Rs 10,000
(3) Rs 8,000
(4) Rs
10,500 38. A sum of money becomes seven times itself in 20 years under simple interest. In how many minimum whole number of years does the same sum at the same rate of interest become more than twice itself under compound interest? (1) 2
(2) 3
(3) 4
(4) 5
39. The compound interest on a sum of money for two years is Rs 918 and the corresponding simple interest is Rs 900. What is the amount under compound inter-est on the same sum at the same rate of interest at the end of two years? (1) Rs 11,250
(2) Rs 11,148
(3) Rs 12,650
(4) Rs 12,168 40. A person takes a loan of Rs 5,000 at compound inter-est compounded annually. He pays Rs 2,500 at the end of the first year and Rs 3,472 at the end of the second year and clears the debt. If the rate of interest is the same in both the years, find the annual rate of interest. (1) 10% (2) 8%
(3) 15% (4) 12%
41. Find the least whole number of years in which a sum of money invested at 20% compound interest p.a. will more than double itself. (1) 1
(2) 4
(3) 2
(4) 3
42. A man borrows a sum of Rs 2.00.000 at 15% p.a. com¬pound interest compounded annually from a money lender for a period of two years. If he repays Rs 1,49,500 at the end of the second year and clears the debt, how much does he repay at the end of the first year? (1) Rs 1,20,000
(2) Rs 1,30.000
(3) Rs 1,00,000
(4) Rs 1,25,000 43. A sum of Rs 47,000 is divided into three parts such that the interest accrued on them at simple interest after three, four and five years respectively may be equal. Find the smallest part, if the rate of simple interest is 6% p.a. in all the cases. (1) Rs 12,000
(2) Rs 10,000
(3) Rs 15,000
(4) Rs 8,000 44. The compound interest on a sum for two years is Rs 1,575 and the corresponding simple interest is Rs 1,500. Find the compound interest on the same sum at the same rate of interest at the end of the third year.
(1) Rs 2273.5
(2) Rs 2407.5
(3) Rs 2384.5
(4) Rs 2482.5 45. Two equal sums are lent at simple interest at the rate of 8% and 12% p.a. The first sum is recovered two years later than the second and the amount in each case is Rs 29.600. What was the period of lending for the sum lent at 12% p.a.? (1) 6 years
(2) 2 years
(3) 4 years
(4) 8 years
46. Kumkum takes a loan of Rs 16,000 at 8% simple interest p.a. She pays Rs 6,000 each at the end of the first and the second years. How much does she have to pay at the end of the third year to clear the debt? (1) Rs 7,840
(2) Rs 6,080
(3) Rs 6,400
(4) Rs 6,677
47. A sum of money when invested at compound inter¬est for a certain period of time becomes 1.331 times itself. What is the rate of interest if the sum was invested for three years? (1) 10% p.a.
(2) 8% p.a.
(3) 9% p.a.
(4) 11% p.a.
48. Mr Rao makes three deposits of equal amounts at intervals of one year. The bank pays simple interest of 10% p.a. on the deposits. At the end of 3 years from the date of investing the first deposit. Mr Rao encashes all three deposits and gets a total amount of Rs 2,520. How much has he deposited each time?
(1) Rs 252
(2) Rs 760
(3) Rs 2,692
(4) Rs 700
49. What equal annual instalment will discharge a debt of Rs 3,100 due after five years at 12% simple interest per annum? (1) Rs 600
(2) Rs 500
(3) Rs 750
(4) Rs 620
50. The compound interest earned on a sum of money at a rate of 10% p.a. for the first year and 12% p.a. for the second year is what per cent of the sum lent? (1)22% (2)23%
(3)24.2% (4)23.2%
