Quantitative Aptitude

General Questions

Quantitative Aptitude Exercise Mode

General Questions

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Question 11
The simple interest on a certain sum of money for 3 years at 8 % per annum is half the compound interest on ₹ 8000 for 2 years at 10 % per annum. Find the sum on which simple interest is calculated:

A
₹ 3500
B
₹ 3800
C
₹ 4000
D
₹ 3600
Correct Answer: Option A

CI = 8000 x (1 + 10/100)2 - 8000
= 8000 x (11/10) x (11/10) - 8000
= ₹ 9680 - 8000
= ₹ 1680

∴ Sum = (840 x 100)/(3 x 8) = ₹ 3500
[ ∵ SI is half of CI ]
∴ SI = 1680/2 = ₹ 840

Question 12
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%
Correct Answer: Option D

Amount of Rs. 100 for 1 year
when compounded half-yearly

= Rs. 100 x 1 + 3 2 = Rs. 106.09
100

∴ Effective rate = (106.09 - 100)% = 6.09%

Question 13
The difference between compound interest and simple interest on an amount of ₹ 15,000 for 2 years is ₹ 96. What is the rate of interest per annum.

A
8
B
10
C
12
D
Cannot be determined
E
None of these
Correct Answer: Option A

15000 x 1 + R 2 - 15000 - 15000 x R x 2
100 100

= 96

⇒ 15000 1 + R 2 - 1 - 2R = 96
100 100

⇒ 15000 (100 + R)2 - 10000 - (200 x R) = 96
10000

⇒ R2 = 96 x 2 = 64
3

⇒ R = 8.

∴ Rate = 8%.

Question 14
The least number of complete years in which sum of money put out at 20% compound interest will be more than double is:

A
3
B
4
C
5
D
6
Correct Answer: Option B

P 1 + 20 n > 2P     ⇒     6 n > 2.
100 5

Now, 6 x 6 x 6 x 6 > 2.
5 5 5 5

So, n = 4 years.

Question 15
On a sum of money, the simple interest for 2 years is ₹ 660, while the compound interest is ₹ 696.30, the rate of interest being the same in both the cause. The rate of interest is:

A
10%
B
10.5%
C
12%
D
None of these
Correct Answer: Option D

Difference in C.I. and S.I. for 2 years

= ₹ (696.30 - 660)

= ₹ 36.30

S.I. on ₹ 330 for 1 year = ₹ 36.30.

∴ Rate 100 x 36.30
330 x 1

= 11%

Question 16
There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of ₹ 12,000 after 3 years at the same rate?

A
₹ 2160
B
₹ 3120
C
₹ 3972
D
₹ 6240
E
None of these
Correct Answer: Option C

Let P = ₹ 100. Then, S.I. ₹ 60 and T = 6 years.

∴ R = 100 x 60 = 10% p.a.
100 x 6

Now, P = ₹ 12000. T = 3 years and R = 10% p.a.

C.I.
= ₹ 12000 x 1 + 10 3 - 1
100
= ₹ 12000 x 331
1000
= 3972.

Question 17
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 18
The principal that amounts to ₹ 4913 in 3 years at 6.25% per annum compound interest compounded annually is:

A
₹ 3096
B
₹ 4076
C
₹ 4085
D
₹ 4096
Correct Answer: Option D

Principal (₹)
= ₹ 4913 x 1 + 25 3
4 x 100
= ₹ 4913 x 16 x 16 x 16
17 17 17
= ₹ 4096

Question 19
The simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on ₹ 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

A
₹ 1550
B
₹ 1650
C
₹ 1750
D
₹ 2000
Correct Answer: Option C

C.I.
= ₹ 4000 x 1 + 10 2 - 4000
100
= ₹ 4000 x 11 x 11 - 4000
10 10
= ₹ 840.

∴ Sum = Rs. 420 x 100 = ₹ 1750.
3 x 8

Question 20
Divided ₹ 3903 between A and B, so that A's share at the end of 7 years may equal to B's share at the end of 9 years, compound interest being at 4 per cent ?

A
₹ 2028, ₹ 1875
B
₹ 2018, ₹ 1885
C
₹ 2008, ₹ 1895
D
₹ 2038, ₹ 1865
Correct Answer: Option A

We have (A's present share) (1 + 4/100)7 = (B's present share) (1 + 4/100)9
∴ A's present share/B's present share = (1 + 4/100)2 = (26/25)2 = 676/625

Dividing ₹ 3903 in the ratio of 676 : 625
∴ A's present share = 676/(676 + 625) of ₹ 3903 = ₹ 2028
   B's present share = ₹ 3903 - ₹ 2028 = ₹ 1875

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