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Simple Internet and Ci

This document contains 20 questions related to simple interest and compound interest concepts. The questions cover calculations of simple interest based on principal, rate and time. They also include concepts like compounding periodically, doubling/tripling of principal over time, and calculation of interest payable in installments on loans.

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Vipul Thakur
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74 views

Simple Internet and Ci

This document contains 20 questions related to simple interest and compound interest concepts. The questions cover calculations of simple interest based on principal, rate and time. They also include concepts like compounding periodically, doubling/tripling of principal over time, and calculation of interest payable in installments on loans.

Uploaded by

Vipul Thakur
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SIMPLE INTEREST AND COMPOUND INTEREST

Q.1 Find the simple interest on Rs 500 for 5 years at 10% per annum.

(a) Rs 500 (b) Rs 125 (c) Rs 250 (d) Rs 350

Q.2 The simple interest on a certain sum of money at 4% per annum for 4 years is
Rs 80 more than the simple interest on the same sum of money for 3 years at 5%
per annum. Find the sum

(a) Rs 4000 (b) Rs 8000 (c) Rs 4030 (d) none of these

Q.3 In what time will Rs 2000 amount to Rs 2500 at 10% per annum simple
interest?

(a) 2.5 years (b) 1.5 years (c) 2 years (d) 5 years

Q.4 A sum of money at simple interest amount to Rs 1045 in 5 years and to Rs


1111 in 6years.The sum is

(a) Rs 945 (b) Rs 715 (c) Rs 845 (d) Rs775

Q.5 In what time does a sum of money become four times at simple interest rate of
5% per annum?

(a) 60 years (b) 61 years (c) 63 years (d) 65 years

Q.6 An amount becomes 4 times in 7 years when invested under SI at a certain


rate. In how many years will the amount become 16 times of the original amount at
the same rate?

(a) 30 years (b) 28 years (c) 21 years (d) 35 years

Q.7 Two equal amounts of money are deposited in two banks, each at 15% per
annum, for 312312 and 5 years. If the difference between their interest is Rs.144,
each sum is:
(a) Rs.460
(b) Rs.500
(c) Rs.640
(d) Rs.720
Q.8 The simple interest on a sum of money will be Rs.600 after 10 years. If the
principal is tripled after 5 years, what will be the total interest at the end of the
tenth year?
(a) Rs.600
(b) Rs.900
(c) Rs.1200
(d) Data inadequate

Q.9A cell phone is available for Rs. 600 or for Rs.300 cash down payment together
with Rs.360 to be paid after two months. Find the rate of interest charged under
this scheme.
(a) 20%
(b) 50%
(c) 120%
(d) None

Q.10 A sum of money becomes Rs.6690 after three years and Rs.10,035 after 6
years on compound interest. The sum is:
(a) Rs.4400
(b) Rs.4445
(c) Rs.4460
(d) Rs.4520

Q.11 The difference between simple interest and compound interest on a sum for 2
years at 8%, when the interest is compounded annually Rs.16. If the interest was
compounded half-yearly, the difference in two interests would be nearly :
(a) Rs.16
(b) Rs.16.80
(c) Rs.21.85
(d) Rs.24.64

Q.12 The least number of complete years in which a sum of money put out at 20%
C.I. will be more than doubled is:
(a) 3
(b) 4
(c) 5
(d) 6

Q.13 A sum amounts to Rs.2916 in 2 years and to Rs.3149.28 in 3 years at


compound interest. The sum is:
(a) Rs.1500
(b) Rs.2000
(c) Rs.2500
(d) Rs.3000

Q.14 The difference between simple interest and compound interest at the same
rate for Rs.5000 for 2 years is Rs.72. The rate of interest is:
(a) 10%
(b) 12%
(c) 6%
(d) 8%

Q.15 The compound interest on a certain sum of money for 2 years at 10% per
annum is Rs.420. The simple interest on the same sum at the same rate and for the
same time will be:
(a) Rs.350
(b) Rs.375
(c) Rs.380
(d) Rs.400

Q.16 A sum of money placed at C.I doubles itself in 5 years. It will amount to
eight times itself in:
(a) 15 years
(b) 20 years
(c) 12 years
(d) 10 years

Q.17 The difference of compound interest on Rs.800 for 1 year at 20% per annum
when compounded half-yearly and quarterly is :
(a) Nil
(b) Rs.2.50
(c) Rs.4.40
(d) Rs.6.60

Q.18 If Rs.7500 are borrowed at C.I at the rate of 4% per annum, then after 2 years
the amount to be paid is:
(a) Rs.8082
(b) Rs.7800
(c) Rs.8100
(d) Rs.8112

Q.19 A person borrowed a sum of Rs 6000 at 10% p.a., interest compounded


annually. If the money is to be repaid in three equal annual installments, each
payable at the end of the year, then what is the value of each installment?
(a) Rs. 2,000
(b) Rs 2,413
(c) Rs 2,314
(d) Rs 2,662

Q.20 A man borrows Rs. 1820 and undertakes to pay back with compound interest
@ 20% p.a. in 3 equal yearly installments at the end of first, second and third
years. What is the amount of each installment?
(a) 864
(b) 850
(c) 820
(d) 900

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