Simple and Compound Interest Aptitude Exam - Set 04

Practice Test: Question Set - 04


1. A sum of money lent at compound interest amounts to Rs. 1210 in two years and to Rs. 1464.10 in 4 years. Find the rate of interest.
    (A) 12 %
    (B) 10 %
    (C) 8 %
    (D) 15 %

2. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 1/4 % p.a for 2 years. Find his gain in the transaction per year.
    (A) Rs. 112.50
    (B) Rs. 125
    (C) Rs. 150
    (D) Rs. 167.50

3. Find compound interest on Rs. 5,000 at 10% per annum for 3 years
    (A) Rs. 1,555
    (B) Rs. 3,665
    (C) Rs. 1,655
    (D) Rs. 1,355

4. The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
    (A) Rs. 2.50
    (B) Rs. 3
    (C) Rs. 3.75
    (D) Rs. 4

5. A man invested 1/3rd of the sum at 7%, ¼th at 8% and the remaining at 10% for one year. If the annual interest is Rs. 408, then the investment is
    (A) Rs. 8,400
    (B) Rs. 4,800
    (C) Rs. 5,000
    (D) Rs. 7,200

6. A tank contains 18,000 liters of water. If it decreases at the rate of 5% a day, what will be the quantity of water after 2 days?
    (A) 16,245 liters
    (B) 15,234 liters
    (C) 17,225 liters
    (D) 18,200 liters

7. A man invested one third of his capital at 7%; one fourth at 8% and the reminder at 10%. If his annual income is Rs.560, the capital is
    (A) Rs. 54,000
    (B) Rs. 60,000
    (C) Rs. 66,000
    (D) Rs. 72,000

8. There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
    (A) Rs. 2160
    (B) Rs. 3120
    (C) Rs. 3972
    (D) Rs. 6240

9. The difference between compound interest and simple interest on a sum for 2 years at 10% per annum, when the interest is compounded annually is Rs. 160. If the interest were compounded half yearly, the difference in two interests would be:
    (A) Rs. 24.81
    (B) Rs. 32.41
    (C) Rs. 36.91
    (D) Rs. 31.61

10. If the amounts for a fixed principal after 3 and 2 years at a certain rate of compound interest are in the ratio 21 : 20. The rate of interest is?
    (A) 7 %
    (B) 6 %
    (C) 5 %
    (D) 4 %

11. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
    (A) Rs. 51.25
    (B) Rs. 52
    (C) Rs. 54.25
    (D) Rs. 60

12. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
    (A) Rs. 400
    (B) Rs. 500
    (C) Rs. 600
    (D) Rs. 800

13. A man borrows Rs. 12,500 from a bank at 20% compound interest. At the end of every year, he pays Rs. 2000 as part repayment. How much does he still owe to the bank after three such installments?
    (A) Rs. 15,600
    (B) Rs. 12,864
    (C) Rs. 12,000
    (D) Rs. 14,320

14. A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
    (A) Rs. 2000
    (B) Rs. 10,000
    (C) Rs. 15,000
    (D) Rs. 20,000

15. Ravi borrowed Rs. 5,000 from Sam with simple interest. After 2 years, San got Rs. 1,000 more than what he had given to Ravi. What was the percentage of interest per annum?
    (A) 10%
    (B) 20%
    (C) 15%
    (D) 5%

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Simple and Compound Interest:
Formula:                Simple and Compound Interest Formulas
Solved Examples:  Solved Examples: Set 01
Practice Test:         Practice Test: 01     Practice Test: 02     Practice Test: 03
                                 Practice Test: 04     Practice Test: 05     Practice Test: 06
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