Quantitative Aptitude

General Questions

Quantitative Aptitude Exercise Mode

General Questions

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Question 1
What is the difference between the compound interest on ₹ 5000 for 1.5 years at 4% per annum compounded yearly and half-yearly?

A
₹ 2.04
B
₹ 3.06
C
₹ 4.80
D
₹ 8.30
Correct Answer: Option A

C.I. when interest
compounded yearly    

= ₹ 5000 x 1 + 4 x 1 + x 4
100 100
= ₹ 5000 x 26 x 51
25 50
= ₹ 5304.

C.I. when interest is
compounded half-yearly

= ₹ 5000 x 1 + 2 3
100
= ₹ 5000 x 51 x 51 x 51
50 50 50
= ₹ 5306.04

∴Difference = ₹ (5306.04 - 5304) = ₹ 2.04

Question 2
Albert invested an amount of ₹ 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

A
₹ 8600
B
₹ 8620
C
₹ 8800
D
₹ 8820
E
None of these
Correct Answer: Option D

Amount:

= ₹ 8000 x 1 + 5 2
100
= ₹ 8000 x 21 x 21
20 20
= ₹ 8820.
Question 3
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits ₹ 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:

A
₹ 120
B
₹ 121
C
₹ 122
D
₹ 123
Correct Answer: Option B

Amount:

= ₹ 1600 x 1 + 5 2 + 1600 x 1 + 5
2 x 100 2 x 100
= ₹ 1600 x 41 x 41 + 1600 x 41
40 40 40
= ₹ 1600 x 41 41 + 1
40 40
= ₹ 1600 x 41 x 81
40 x 40
= ₹ 3321.

∴ C.I. = ₹ (3321 - 3200) = Rs. 121

Question 4
Find the compound interest on ₹ 15,625 for 9 months at 16% per annum compounded quarterly.

A
₹ 1851
B
₹ 1941
C
₹ 1951
D
₹ 1961
Correct Answer: Option C

P = ₹ 15625, n = 9 months = 3 quarters,
R = 16% p.a. = 4% per quarter.

Amount:

= ₹ 15625 x 1 + 4 3
100
= ₹ 15625 x 26 x 26 x 26
25 25 25
= ₹ 17576

∴ C.I. = ₹ (17576 - 15625) = ₹1951

Question 5
Sam invested ₹ 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be:

A
₹ 16,500
B
₹ 16,525.50
C
₹ 16,537.50
D
₹ 18,150
E
None of these
Correct Answer: Option C

P = ₹ 15000; R = 10% p.a. = 5% per half-year; T= 1 year = 2 half-years.

Amount:

= ₹ 15000 x 1 + 5 2
100
= ₹ 15000 x 21 x 21
20 20
= ₹ 16537.50

Question 6
The difference between simple interest and compound interest on ₹ 1200 for one year at 10% per annum reckoned half-yearly is:

A
₹ 2.50
B
₹ 3
C
₹ 3.75
D
₹ 4
E
None of these
Correct Answer: Option B

S.I. = ₹ 1200 x 10 x 1 = ₹ 120.
100

C.I. = Rs. 1200 x 1 + 5 2 - 1200 = ₹ 123.
100

∴ Difference = ₹ (123 - 120) = ₹ 3.

Question 7
The compound interest on a certain sum for 2 years at 10% per annum is ₹ 525. The simple interest on the same sum for double the time at half the rate percent per annum is:

A
₹ 400
B
₹ 500
C
₹ 600
D
₹ 800
Correct Answer: Option B

Let the sum be ₹ P.

Then, P 1 + 10 2 - P = 525
100

⇒ P 11 2 - 1 = 525
10

⇒ P = 525 x 100 = 2500.
21

∴ Sum = ₹ 2500.

So, S.I. = ₹ 2500 x 5 x 4 = ₹ 500
100

Question 8
What will be the difference between simple and compound interest @ 10% per annum on a sum of ₹ 1000 after 4 year?

A
₹ 31
B
₹ 32.10
C
₹ 40.40
D
₹ 64.10
E
None of these
Correct Answer: Option D

S.I. = ₹ 1000 x 10 x 4 = ₹ 400.
100

C.I. = ₹ 1000 x 1 + 10 4 - 1000 = ₹ 464.10
100

∴ Difference = ₹ (464.14 - 400) = ₹ 64.10

Question 9
What will be compound interest on a sum of ₹ 25000 after 3 years at the rate of 12 p. c. p. a ?

A
₹ 9000.30
B
₹ 9720
C
₹ 10123.20
D
₹ 10483.20
E
None of these
Correct Answer: Option C

Amount:

= ₹ 25000 x 1 + 12 3
100
= ₹ 25000 x 28 x 28 x 28
25 25 25
= ₹ 35123.20

∴ C.I. = ₹ (35123.20 - 25000) = ₹ 10123.20

Question 10
A sum of money is borrowed and paid back in two annual instalments of ₹ 882 each allowing 5% compound interest. The sum borrowed was:

A
₹ 1620
B
₹ 1640
C
₹ 1680
D
₹ 1700
Correct Answer: Option B
Principal
= (P.W. of ₹ 882 due 1 year hence) + (P.W. of ₹ 882 due 2 years hence)
=          882           +              882         
     ( 1 + 5 / 100)            (1 + 5 /100)2

=  882 x 20   +  882 x 400
        21                441
= ₹ 1640.
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