Simple and Compound Objective Practice Test - Set 06

Practice Test: Question Set - 06


1. If the compound interest on a certain sum for 3 years at 20% per annum is Rs. 728, find the simple interest.
    (A) Rs.900
    (B) Rs.200
    (C) Rs.300
    (D) Rs.600

2. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
    (A) 1 : 3
    (B) 1 : 4
    (C) 2 : 3
    (D) None of these

3. A man invested 1/3 of his capital at 7%, ¼ at 8% and the remainder at 10%. If his annual income is Rs. 561, the capital is?
    (A) Rs. 5,600
    (B) Rs. 4,650
    (C) Rs. 6,900
    (D) Rs. 6,600

4. A sum of money placed at compound interest doubles itself in 5 years. It will amount to gain eight times itself in:
    (A) 10 years
    (B) 12 years
    (C) 15 years
    (D) 20 years

5. What sum of money lent out at compound interest will amount to Rs. 968 in 2 years at 10% per annum, interest being charged annually?
    (A) Rs. 900
    (B) Rs. 825
    (C) Rs. 780
    (D) Rs. 800

6. The rates of simple interest in ICICI and HDFC bank are in the ratio 5:4. A person wants to deposit his total savings in two banks in such a way that he received equal half yearly interest from both. He should deposit the savings in ICICI and HDFC bank in the ratio:
    (A) 2 : 5
    (B) 4 : 5
    (C) 5 : 2
    (D) 5 : 4

7. A sum of Rs. 1600 lent at simple interest at 12.5% per annum will become double in
    (A) 6 years
    (B) 7½ years
    (C) 8 years
    (D) 9¼ years

8. At what rate percent per annum will a sum of Rs. 3,600 become Rs. 4,500 in 10 years at simple interest?
    (A) 5 %
    (B) 2.5 %
    (C) 10 %
    (D) 6.75 %

9. Find out the capital required to earn a monthly interest of Rs. 600 at 6% simple interest.
    (A) Rs. 1 lakh
    (B) Rs. 1.2 lakhs
    (C) Rs. 1.1 lakhs
    (D) Rs. 1.3 lakhs

10. The cost of a machine is estimated to be decreasing at the rate of 15% every year. If it costs Rs. 6,000 now, what will be the estimated value of the machine after 2 years?
    (A) Rs. 3,750
    (B) Rs. 4,335
    (C) Rs. 3,225
    (D) Rs. 5,000

11. A man borrows Rs. 4,000 from a bank at 7½ % interest. At the end of every year, he pays Rs. 1,500 as part repayment of loan and interest. How much does he still owe to the Bank after 3 such annual payments?
    (A) Rs. 123.25
    (B) Rs. 25
    (C) Rs. 124.25
    (D) Rs. 125

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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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