Simple interest And Compound interest for IBPS , SBI , RBI | Quantitative Aptitude | Quiz-1

Simple interest And Compound interest for IBPS , SBI , RBI

Simple interest And Compound interest plays a significant role in Quantitative Aptitude Section of banking exams such as IBPS, SBI and RBI PO and Clerk. You will get at least 4-5 questions from Simple interest And Compound interest in one of IBPS, SBI and RBI PO & clerk exam. So, aspirants should focus on Simple interest And Compound interest questions in detail. Here, we are providing you with the Simple interest And Compound interest questions quiz with the detailed solution so that you can easily prepare for Simple interest And Compound interest questions. We are providing here all-important latest pattern-based questions and Previous Year Questions of Simple interest And Compound interest of various Government Exam like IBPS, SBI, and RBI PO and Clerk exam. This Simple interest And Compound interest quiz we are providing is free. Attempt this Simple interest And Compound interest quiz to practice important questions with answers and solutions. And score better in IBPS, SBI and RBI PO and Clerk exam.

Simple interest And Compound interest Quiz to improve your Quantitative Aptitude for SBI Po & SBI clerk exam IBPS PO Reasoning , IBPS Clerk Reasoning , IBPS RRB Reasoning, LIC AAO ,LIC Assistant  and other competitive exam

1. The difference between the compound interest and the simple interest on a sum for two years at 10% pa, when the interest is compounded yearly, is Rs 400. If the interest is compounded half-yearly, what will be the difference between the CI and the SI ?

(a) Rs 400  

(b) Rs 525.50 

(c) Rs 620.25

(d) Rs 640.50 

(e) Rs 720.125

Answer & Explanation
21

Q2. Sanjay borrowed a certain sum from Anil at a certain rate of simple interest for 2 years. He lent this sum to Ram at the same rate of interest compounded annually for the same period. At the end of two years, he received Rs. 4,200 as compound interest but paid Rs. 4,000 only as simple interest. Find the rate of interest.

(a) 15%

(b) 20%

(c) 35%

(d) 10%

(e) None of these

Answer & Explanation
22

3. Divide Rs 6000 into two parts, so that simple interest on the first part for 2 years at 6% per annum may be equal to the simple interest on the second part for 3 years at 8% per annum?

(a) Rs 4000, Rs 2000

(b) Rs 5000, Rs 1000

(c) Rs 3000, Rs 3000

(d) Rs 3500, Rs 2500

(e) None of these

Answer & Explanation
23

4. A and B each borrowed equal sums for 3 years at the rate of 5% simple and compound interest respectively. At the time of repayment B has to pay Rs. 76.25 more than A. The sum borrowed and the interest paid by A (in Rs.) is:

(a) Rs. 10,000, Rs. 1,500

(b) Rs. 11,000, Rs. 1,100

(c) Rs. 10,000, Rs. 1,400

(d) Rs. 9,000, Rs. 200

(e) None of these

Answer & Explanation
24

5. A man borrows Rs. 6000 at 10% compound rate of interest. He pays back Rs. 2000 at the end of each year to clear his debt. The amount that he should pay to clear all his dues at the end of third year is:

(a)Rs. 6000

(b)Rs. 3366

(c)Rs. 3060

(d)Rs. 3066

(e) None of these

Answer & Explanation
25

6. Rohit took a loan of Rs. 20000 to purchase one LCD TV set from a finance company. He promised to make the payment after three years. The company charges compound interest at the rate of 10% per annum for the same. But suddenly the company announces the rate of interest as 15% per annum for the last one year of the loan period. What extra amount does Rohit have to pay due to this announcement of the new rate of interest ?

(a)Rs. 7830

(b)Rs. 4410

(c)Rs. 6620

(d)Rs. 1210

(e) None of these

Answer & Explanation
26

7. The simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is Rs. 6500. What would be the compound interest accrued on that principal at the rate of 8% per year in 2 years?

(a) Rs. 1040 

(b) Rs. 1020

(c) Rs. 1060

(d) Rs. 1200

(e) None of these

Answer & Explanation
27

8. A sum of money invested at compound interest amounts to Rs. 5850 at the end of two years and to Rs. 5908.50 at the end of 3 years. The rate per cent per annum is —

(a) 0.9

(b) 1.1

(c) 1

(d) 1.2

(e) None of these

Answer & Explanation
28

9. 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 interest accrued in the two cases is Rs 1008. Find the sum.

(a) Rs 11,200

(b) Rs 5,600

(c) Rs 12,600

(d) Rs 14,400

(e) None of these

Answer & Explanation
29

10. The ratio of the amount for two years under CI annually and for one year under SI is 6 : 5. When the ratio of interest is same, then the value of the rate of interest is :

(a) 12.5%

(b) 18%

(c) 20%

(d) 16.66%

(e) None of these


Answer & Explanation
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