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SIMPLE AND COMPOUND INTEREST
SIMPLE AND COMPOUND INTEREST QUANTITATIVE APTITUDE MOCK TEST SET 2
January 17, 2016
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1.If the rate of interest rises from 111⁄2% to 13%, a man’s annual income from interest an investment of a principal amount in rupees is
(a)Rs. 10,0000
(b)Rs. 108000
(c )Rs. 118000
(d)180000

Answer

b

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2.A and B took some amount of money from a bank on the same date at an interest of 10% p.a after two years A paid completetly his principal together with interest by an amount which was exactly equal to what B paid after three yeara as principal and interest. The rate of principal amount of A to that of B is
(a)3.2
(b)2:3
(c )12:13
(d)13:12

Answer

d

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3.One can purchase a refrigerator by one time payement of Rs. 9800 or by paying Rs. 2000 each down plus 4 monthly installments of Rs. 2000 each. If the first installment is to be paid 1 month after the date of delivery of the refrigerator , then the rate of simple interest chaangd by the dealer under the installment scheme is
(a)8%
(b)9%
(c )10%
(d)12.5%

Answer

d

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4.A man borrowed Rs. 3125 for compound interest and it amounted to Rs. 4500 in 2 years. The rate of compound interest p.a is
(a)30%
(b)25%
(c )20%
(d)15%

Answer

c

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5.Rs. 4000 is insested at a fixed deposits scheme for 5 yrs at 16% p.a (simple interest) and the same time Rs. 6400 in a Bank for 4 yrs. If at the end of the respectiveperiods the interest in both the cases be the same , the rate percent p.1 in the second case of the Bank is.
(a)10
(b)11
(c )12
(d)121⁄2

Answer

d

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6.If the simple interest = I, the period in years = N, the rate of interest percent p.a = R , then the principal P is given by:
(a)100I/NR
(b)100R/N
(c )100 IN/R
(d)I / 100NR

Answer

a

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7.The value of a machine purchased for Rs. 2,00,000 depreclates at the rate of 10% every year the cost of the machine after three years will be
(a)Rs. 60,000
(b)Rs.140,000
(c )Rs.145,800
(d)Rs.266,200

Answer

c

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8. A person borrowed a sum of Rs. 1600 at simple interest of 4.5% p.a and invested it at an interest of 5% p.a compounded annually At the end of the third year, he earned a profit of;
(a)Rs.56.60
(b)Rs. 47.50
(c )Rs. 36.20
(d)Rs.31.75

Answer

c

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9. Prabhakar deposited Rs. 5000 in the bank and the bank offered simple interest at the rate of 12 percent per year .After 5 year the total amount received by him will be.
(a)Rs. 7000
(b)Rs.7500
(c )Rs.8000
(d)Rs.8500

Answer

c

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10.Rs. 6200 amounts to Rs. 9176 in four years at simple interest, if the interest rate is increased by 3%it would amount to how much?
(a)Rs. 8432
(b)Rs. 9920
(c )Rs. 10920
(d)None

Answer

b

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