Interest Simple & Compound Quantitative MCQ Questions Answers

16) What annual instalment will discharge a debt of Rs 47250 due 3 yr hence at the rate of 5% simple interest ?

a) Rs 15500

b) Rs 16000

c) Rs 15000

d) Rs 14000

Option – c)

17) Harsh makes a fixed deposit of Rs 20,000 with the Bank of India for a period of 3 years. If the rate of interest be 13% SI per annum charged half-yearly, what amount will he get after 42 months?

(a) 27,800

(b) 28,100

(c) 29,100

(d) 28,500

Option – c)

18) In what time does a sum of money becomes four times at the simple interest rate of 10% per annum ?

a) 30 yr

b) 25yr

c) 35 yr

d) 40 yr

Option – a)

19) A sum of money doubles itself at compound interest in 15 yr. In how many years will it becomes eight times ?

a) 20 yr

b) 40 yr

c) 35 yr

d) 45 yr

Option – d)

20) A certain sum of money amounts to Rs 1125 in 5 yr and to Rs 1200 in 8 yr. The sum is

a) Rs 900

b) Rs 500

c) Rs 1000

d) Rs 800

Option – c)

21) The simple interest on a certain sum of money for 2 yr at 6% per annum is Rs 300. The compound interest at the same rate for the same time will be

a) Rs 310

b) Rs 308

c) Rs 307

d) Rs 309

Option – d)

22) The compound interest on Rs 350 for 1 yr at 4% per annum, the interest being payble half yearly, will be

a) Rs 364.14

b) Rs 365.15

c) Rs 14.14

d) 15.15

Option – c)

23) A certain sum is invested for certain time, it amounts to Rs 450 at 7% per annum. Bt when invested at 5% per annum, It amounts to Rs 350. The time is

a) 50 yr

b) 60 yr

c) 45 yr

d) 40 yr

Option – a)

24) Sundaran invested an amount of Rs 10000 at compound interest rate of 10 percent per annum for a period of 3 yr. How much will he get after 3 yr ?

a) Rs 12340

b) Rs 13210

c) Rs 13320

d) Rs 13310

Option – d)

25) After how many years will a sum of Rs 12,500 become Rs 17,500 at the rate of 10% per annum?

(a) 2 years

(b) 3 years

(c) 4 years

(d) 5 years

Option – c)

26) A sum of money is borrowed and paid back in two equal annual instalments of ` 882, allowing 5% compound interest. The sum borrowed was

(a) Rs 1640

(b) Rs 1680

(c) Rs 1620

(d) Rs 1700

Option – a)

27) A difference between the interest received from two different banks on Rs 400 for 2 years is Rs 4. What is the difference between their rates?

(a) 0.5%

(b) 0.2%

(c) 0.23%

(d) 0.52%

Option – a)

28) What is the amount of equal instalment, if a sum of Rs 1428 due 2 years hence has to be completely repaid in 2 equal annual instalments starting next year.

(a) 700

(b) 800

(c) 650

(d) Cannot be determined