this document contains practice qns of simple and compound interest
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Tells you how to calculate interest
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Instructions on how to calculate simple interest and maturity value.
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COMPOUND INTEREST
compound intereset questions
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This document transports you through time from the moment of creation of the universe to today, charting God's universal message through His Prophets.
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SIMPLE INTEREST QUESTIONS AND ANSWERS 1. A man invested of his capital at 7%; at 8% and remainder at 10%. If his annual income is Rs. 561, the capital is: A. Rs. 5400 B. Rs. 6000 C. Rs. 6600 D. Rs. 7200 ANSWER : Rs. 6600 2. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate. It would have fetched Rs. 24 more. The sum is: A. Rs. 600 B. Rs. 1200 C. Rs. 800 D. Rs. 480 ANSWER : Rs. 1200 3. A sum of Rs. 2600 is lent out in two parts in such a way that the interest on one part at 10% for 5 years is equal to that on another part at 9% for 6 years. The sum lent out at 10% is: A. Rs. 1150 B. Rs. 1250 C. Rs. 1350 D. Rs. 1450 ANSWER : Rs. 1350 4. The difference between the interests received from two different banks on Rs. 500 for 2 years, is Rs. 2.50. The difference between their rates is: A. 1% B. 0.5% C. 2.5% D. 0.25%
ANSWER : 0.25% 5. What annual payment will discharge a debt of Rs. 580 due in 5 years, the rate being 8% per annum? A. Rs. 166.40 B. Rs. 65.60 C. Rs. 100 D. Rs. 120 ANSWER : Rs. 100 6. The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is: A. Rs. 4800 B. Rs. 6000 C. Rs. 8000 D. date inadequate ANSWER : Rs. 8000 7. A sum of money becomes (875) of itself in 5 years at a certain rate of interest. The rate per cent per annum is: A. 5% B. 8% C. 10% D. 12% ANSWER : 12% 8. A sum of money will double itself in 16 years at simple interest with yearly rate of: A. 10% B. 6 % C. 8% D. 16% ANSWER : 6 %
9. A certain sum of money at simple interest amounts to Rs. 1012 in 2 years. The rate of interest per annum is: A. 2.5% B. 3% C. 4% D. 5% ANSWER : 4% 10. The simple interest on a certain sum for 3 years at 14% per annum is Rs. 235.20. The sum is: A. Rs.480 B. Rs. 560 C. Rs. 650 D. Rs. 720 ANSWER : Rs. 560 11. At a certain rate of simple interest, a certain sum doubles itself in 10 years. It will treble itself in: A. 15 years B. 20 years C. 30 years D. 12 years ANSWER : 20 years 13. If the interest on Rs. 1200 be more than the interest on Rs. 1000 by Rs. 50 in 3 years, the rate per cent is: A. 10 B. 6 C. 8 D. 9 ANSWER : 8
14. The simple interest on a sum of money is of the principal and the number of years is equal to the rate per cent per annum. The rate percent per annum is: A. 3 B. 5 C. 7 D. 8 ANSWER : 3 15. In how many years will a sum of money double itself at 12% per annum: A. 6 years 9 months B. 8 years 3 months C. 7 years 6 months D. 8 years 6 months ANSWER : 8 years 6 months 16. A sun of money, put at simple interest trebles itself in 15 years. The rate percent per annum is: A. 13 % B. 16 % C. 12 % D. 20% ANSWER : 13% 17. A certain sum of money at simple interest amounts of Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is: A. 2.5% B. 5% C. 3.75% D. 7.5% ANSWER : 2.5% 18. At simple interest, a sum doubles after 20 years. The rate of interest per annum is : A. 5%
B. 20% C. 12% D. date inadequate ANSWER : 5% 19. A sum of money amounts to Rs. 702 in 2 years and Rs. 783 in 3 years. The rate per cent is: A. 12% per annum B. 13% per annum C. 14% per annum D. 15% per annum ANSWER : 15% per annum 20. A sum of money at simple interest amounts to Rs. 2240 in 2 years and Rs. 2600 in 5 years. The sum is: A. Rs. 1880 B. Rs. 2000 C. Rs. 2120 D. data inadequate ANSWER : Rs. 2000 21. A money leader finds that due to a fall in the rate of interest from 13% to 12 % his yearly income diminishes by Rs. 104. His capital is: A. Rs. 21400 B. Rs. 20800 C. Rs. 22300 D. Rs. 24000 ANSWER : Rs. 20800 22. If Rs. 64 amount to Rs. 83.20 in 2 year, what will Rs. 86 amount to in 4 years at the same rate per cent per annum? A. Rs. 137.60 B. Rs. 124.70
C. Rs. 114.80 D. Rs. 127.40 ANSWER : Rs. 137.60 23. A sum of Rs. 2540 is lent out into two parts, one at 12% and another one at 12 %. If the total annual income is Rs. 311.60, he money lent at 12% is: A. Rs. 1180 B. Rs. 1360 C. Rs. 1240 D. Rs. 1340 ANSWER : Rs. 1180 24. Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%. It would amount to how much? A. Rs. 1056 B. Rs. 1112 C. Rs. 1182 D. Rs. 992 ANSWER : Rs. 992 25. A sum of money amouns to Rs. 850 in 3 years and Rs. 925 in 4 years. The sum is: A. Rs. 600 B. Rs. 575 C. Rs. 625 D. date inadequate ANSWER : Rs. 600 26. A lent Rs. 600 to B for 2 years and Rs. 150 to C for 4 years and received altogether from both Rs. 90 as simple interest. The rate of interest is: A. 4% B. 5% C. 10%
D. 12% ANSWER : 5% 27. The simple interest on a sum of money will be Rs. 600 after 10 years. If the principal is trebled after 5 years. What will be the total interest at the end of the tenth years? A. Rs. 600 B. Rs. 900 C. Rs. 1200 D. data inadequae ANSWER : Rs. 1200 28. If the amount of Rs. 360 in 3 years is Rs. 511.20, what will be the amount of Rs. 700 in 5 years? A. Rs. 1190 B. Rs. 1230 C. Rs. 1060 D. Rs. 1225 ANSWER : Rs. 1190 29. Simple interest on a certain sum at a certain rate is of the sum. It the number representing rate per cent and time in years be equal, then the time is: A. 5 years B. 6 years C. 6 years D. 7 years ANSWER : 7 years 30. A man lends Rs. 10000 in four parts. If be gets 8% on Rs. 2000 7 on Rs. 4000 and 8 on Rs. 1400 what per cent must he get for the remainder, if the average interest is 8.13%? A. 7% B. 9% C. 9 D. 10
ANSWER : 9% 31. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is: A. Rs. 650 B. Rs. 690 C. Rs. 698 D. Rs. 700 Answer: Rs. 698 32.Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B? A. Rs. 6400 B. Rs. 6500 C. Rs. 7200 D. Rs. 7500 E. None of these Answer: Option A 33.A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum? A. B. C. D. E.
Rs. 4462.50 Rs. 8032.50 Rs. 8900 Rs. 8925 None of these
Answer: Rs. 8925 34. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest? A. B. C. D.
3.5 years 4 years 4.5 years 5 years
Answer: Option B 35. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest? A. 3.6 B. 6 C. 18
D. Cannot be determined E. None of these Answer: 6
