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SIMPLE AND COMPOUND INTEREST
SIMPLE AND COMPOUND INTEREST QUANTITATIVE APTITUDE MOCK TEST SET 3
January 17, 2016
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1. A sum of money amounts Rs. 805 in 5 years and Rs. 952 in 12 years at the same rate of interest. The rate of interest is,
(a)3%
(b)5%
(c )6%
(d)8%

Answer

a

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2.A sum of money amounts to Rs. 1180 and Rs. 1300 in 3 years and 5 years respectively at simple interest p.a the sum is
(a)Rs.900
(b)Rs.950
(c )Rs.1000
(d)Rs.1050

Answer

c

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3.A person had deposited Rs. 2500 in a bank on 1st Jan withdrew Rs. 1000 from the bank at the end of 9 months. If the rate of interest is 4% p.a, then the total interest payable to him at the end of the year is;
(a)Rs.80
(b)Rs.84
(c) Rs.105
(d)Rs.90

Answer

d

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4. In order that the simple interest on the first part for 2 years at 8% per annum is equal to the simple interest on the second part for 4 years at 5% per annum, a sum of Rs. 9000 should be divided as.
(a)Rs. 5000 , Rs. 4000
(b)Rs. 6000, Rs. 3000
(c )Rs. 4500, Rs. 4500
(d)Rs. 5500, Rs. 3500

Answer

a

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5. The sum which amounts to Rs. 840 in five years at the rate of 8% per annum simple interest is Rs.
(a)(100×840)/(100+5×8)
(b)(100×5×8×100)/840
(c )(100+840)/(100+5×8)
(d)(840×5×8)/100

Answer

a

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6.A sum of money doubles itself at compounded interest in 15 years. It will become eight times in
(a)30 yrs
(b)40 yrs.
(c )45 yrs.
(d)60 yrs.

Answer

c

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7.The difference in simple & compound interest on a certain sum of money in 2 years a t15% per annum is Rs. 144. The sum (in Rs.) is
(a)6,000
(b)6,200
(c )6,300
(d)6,400

Answer

d

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8. A sum of money at simple interest amounts to Rs. 815 in 3 year & to Rs. 854 in 4 years. The sum is
(a)Rs.700
(b)Rs.698
(c )Rs.690
(d)Rs.650

Answer

b

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9. The compound interest on Rs. 10,000 for 2 years at 5 % per annum is
(a)Rs. 1000
(b)Rs. 1025
(c )Rs. 1030
(d)None

Answer

b

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10. Difference between compound interest and simple interest on a sum of Rs. 4000 for 3 yrs. At 5% p.a. is
(a)Rs.28
(b)Rs.2950
(c )Rs. 30
(d)Rs.30.50

Answer

d

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