# Practice Test: Question Set - 05

**1. Find the sum of money which increases 1/10 of itself every year and amounts to Rs. 450 in 5 years at S.I.**

- (A) Rs. 300

- (B) Rs. 800

- (C) Rs. 1200

- (D) Rs. 700

**2. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:**

- (A) 2

- (B) 2½

- (C) 3

- (D) 4

**3. The difference in simple interest on a certain sum of money for 3 years and 5 years at 18% per annum is Rs. 2,160. Then the sum is:**

- (A) Rs. 6,500

- (B) Rs. 4,500

- (C) Rs. 6,000

- (D) Rs. 7,500

**4. What annual payment will discharge a debt of Rs. 7620 due in 3 years at 6**

^{2}/_{3}% per annum compound interest?- (A) Rs. 2540

- (B) Rs. 3430

- (C) Rs. 3260

- (D) Rs. 3380

**5. A bank offers 5% compound interest calculated on half-yearly 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:- (A) Rs. 120

- (B) Rs. 121

- (C) Rs. 122

- (D) Rs. 123

**6. The simple interest on a sum of money is**

^{1}/_{11}th of the principal and the number of years is equal to the rate percent per annum. The rate of interest per annum is?- (A) 2 %

- (B) 5 %

- (C) 4 %

- (D) 3

^{1}/

_{3}%

**7. 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. Find the sum.**

- (A) Rs. 1,200

- (B) Rs. 1,400

- (C) Rs. 1,600

- (D) Rs. 1,800

**8. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:**

- (A) 6.06%

- (B) 6.07%

- (C) 6.08%

- (D) 6.09%

**9. ‘**

*A*’ lent Rs. 5000 to ‘*B*’ for 2 years and Rs. 3000 to ‘*C*’ for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:- (A) 5%

- (B) 7%

- (C) 9%

- (D) 10%

**10. At what rate percent per annum simple interest will a sum of money triple itself in 25 years?**

- (A) 8 %

- (B) 8

^{1}/

_{3 }%

- (C) 9

^{1}/

_{11 }%

- (D) 10 %

**11. A sum of money doubles itself at compound interest in 15 years. It will become 8 times in**

- (A) 40 years

- (B) 30 years

- (C) 60 years

- (D) 45 years

**12. What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12% p.a.?**

- (A) Rs. 9000.30

- (B) Rs. 9720

- (C) Rs. 10123.20

- (D) Rs. 10483.20

**13. The difference in the interests received from two different banks on Rs. 1000 for 2 years is Rs. 20. Thus, the difference in their rates is:**

- (A) 2 %

- (B) 1 %

- (C) 1.5
%

- (D) 0.5 %

**14. A loan was repaid in two annual installments of Rs. 1210 each. If the rate of interest be 10% per annum, compounded annually, the sum borrowed was:**

- (A) Rs. 2000

- (B) Rs. 2100

- (C) Rs. 2300

- (D) Rs. 1900

**15. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?**

- (A) 3 %

- (B) 4 %

- (C) 5 %

- (D) 6 %

**View All Answers**

__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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