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SIMPLE AND COMPOUND INTEREST
SIMPLE AND COMPOUND INTEREST QUANTITATIVE APTITUDE MOCK TEST SET 1
January 17, 2016
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1. At what rate percent per annum will be the simple interest on a certain sum of money for 20 years will be equal to 4/9th of the total amount at the end of the period?
(a) 5%
(b) 4%
(c ) 6%
(d) 4%

Answer

b

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2. Equal sums of money were lent to two persons at 16% simple interest p.a for a period of 3 years and 5 years respectively. If the difference in interest paid by them was Rs. 960, the sum lent to each of them is;
(a) Rs.6300
(b) Rs.4200
(c ) Rs.5000
(d) Rs.3000

Answer

d

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3.A sum of money amounts to Rs. 1360 in 3 years and to Rs. 1720 in 6 years at simple interest p.a the rate of interest is
(a)10%
(b)15.1%
(c )13% (d)12%

Answer

d

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4.The interest on a sum of money at the end of 61/4 years is 5/6 of the sum itself. In what time will the sum doubles itself at the same rate?
(a)16 years
(b)10 yrs
(c )20 yrs.
(d)18 yrs.

Answer

c

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5.A sum of money amounts to Rs. 2240 at 4% p.a simple interest in 3 years, the interest on the same sum for 6 months at 31/2% p.a is
(a)Rs.50
(b)Rs.30
(c )Rs.35
(d)Rs.40

Answer

c

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6.AA man invests Rs. 10000 for a year of this Rs. 4000 is invested at the interest rate of 5% p.a., Rs. 3500 at 4% p.a, and the rest at x% per annum, his total interest for the year is Rs. 500. Then X equals to
(a)6.2
(b) 6.3
(c )6.4
(d)6.5

Answer

c

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7. A sum of money doubles itself in 6 years at simple interest p.a daily interest of Rs. 1.00 will be received for deposits of money under this scheme by an amount equal (1 year = 365 days)
(a)R. 1200
(b)Rs.2190
(c )Rs.2400
(d)Rs. 3650

Answer

b

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8.A sum of money becomes double on simple interest in 20 years the period in which it will become four times at the same rate is:
(a)Rs.40 year
(b)60 years
(c )Rs. 80 years
(d)50 years

Answer

b

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9.If the rate of interest p.a , increases from 6 1⁄2% to 8%, a person’s annual income increases by Rs. 40.50 his capital is
(a)Rs. 2500
(b)Rs.2700
(c )Rs 3000
(d)Rs .2550

Answer

b

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10.A sum of money triples itself in 30 years rate of interest p.a is:
(a)62/3%
(b)10%
(c )15%
(d)6%

Answer

a

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