Quantitative Aptitude: Simple and Compound Interest
Simple Interest and Compound Interest
Part 2 - Advanced
1. A man borrows ` 21000 at 10% compound interest. How much he has to pay equally at the
end of each year, to settle his loan in two years?
a) ` 12000 b) ` 12100 c) ` 12200 d) ` 12300
2. What annual payment will discharge a debt of ` 6,450 due in 4 years at 5% per annum
simple interest?
a) ` 1,400 b) ` 1,500 c) ` 1,550 d) ` 1,600
3. A sum of money at compound interest doubles itself in 15 years. It will become eight times
of itself in
a) 45 years b) 48 years c) 54 years d) 60 years
4. The time in which ` 80,000 amounts to ` 92,610 at 10% pa at compound interest, interest
being compounded semi-annually is
a) 1 1/2 years b) 2 years c) 2 1/2 years d) 3 years
5. Given the difference between simple interest for 2 years and compound interest for 2 years
on the same sum and at the same rate of interest compounded annually is 120. The
difference between simple interest for 3 years and compound interest for 3 years on the
same sum and at the same rate of interest is 366. Find the rate of interest.
6. The simple interest earned on a sum of Rs 3000 in 2 years is Rs 20 more than on Rs 2500 for
the same period at the same rate of interest. If a person is getting an interest of Rs 2280 on
the same rate of interest and time period which is thrice of the rate of interest, then what is
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Quantitative Aptitude: Simple and Compound Interest
amount he has invested?
1) 15500 2) 11200 3) 17500 4) 19000 5) None of these
7. Reena had Rs 10,000 with her. Out of this money, she lend some money to Akshay for 2
years at 15% SI. She lent remaining money to Brijesh for an equal number of years at the rate
of 18%. After 2 years, Reena found that Akshay had given her Rs 360 more as interest
compared to Brijesh. The amount of money which Reena had lent to Brijesh must be
1) 4000 2) 2500 3) 3500 4) 4200 5) None of these
8. A man invests an amount of Rs. 15,860 in the names of his three sons A, B and C in such a
way that they get the same amount after 2, 3 and 4 years respectively. If the rate of simple
interest is 5%, then find the ratio in which the amount was invested for A, B and C?
9. What is the interest for the third year if Rs. 26,600 is lent out at the rate of interest 11% pa,
the interest being compounded annually? (in approximate value)
1) 3277.38 2) 3287.38 3) 3288.38 4) 3277.83 5) None of these
10. Prem invested a certain sum in scheme A, which offers simple interest at the rate of 8% per
annum for 4 years. He also invested Rs.2000 in Scheme B, which offers compound interest
(compounded annually) at 20% pa for 2 years. If the interest earned from scheme A is a
7/11 of the interest earned from scheme B, what is sum invested in scheme A?
1) Rs.4000 2) Rs.3000 3) Rs.4500 4) Rs.3600 5) None of these
11. A certain sum of money invested at a certain rate of C.I. increases by 96% of its initial value
in 2 years. If the same sum of money invested at S.I at same rate of interest, then how many
years would it triple itself?
12. Equal sum of money were invested in scheme A and scheme B for two years. Scheme A
offers simple interest and scheme B offers compound interest (compounded annually) and
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Quantitative Aptitude: Simple and Compound Interest
the rate of interest (p.c.p.a.) for both the schemes are same. The interest accrued from
scheme A after two years is Rs. 1920 and from scheme B is Rs. 2112. Had the rate of interest
(p.c.p.a.) of scheme A been 4% more, what would have been the total interest accrued from
both the scheme?
1) ` 2252 2) ` 2336 3) ` 2480 4) ` 2304 5) ` 2284
13. Two equal sums of money are lent at the same time at 8% and 7% p.a. SI. The former is
recovered 6 months earlier than the latter and the amount in each is Rs. 2560. The sum and
the time for which the sums of money are lent out are
14. A man gives 50% of his savings of Rs 84,100 to his wife and divided the remaining sum
among his two sons A and B of 15 and 13 years of age respectively. He divided it in such a
way that each of his sons when they attain the age of 18 years would receive the same
amount at 5% compound interest per annum. The share of B was
1) 20000 2) 20050 3) 22000 4) 22050
15. Divide Rs 7806 between anushka and kavita so that anushka's share at the end of 7 years is
equal to kavita's share at the end of 9 years CI being 4%. Find the share of anushka and
kavita respectively.
16. Hari took an education loan from a nationalized bank for his 2 years course of MBA. He
took the loan of Rupees 5 lakh such that he would be charged at 7% p.a at C.I during his
course and at 9% C.I after the completion of the course. He returned half of the amount
which he had to be paid on the completion of his studies and remaining after 2 years. What
is the total amount returned by Hari?
17. A bank offers 5% c.i calculated on half yearly basis. A customer deposits Rs.1600 each on 1st
January and 1st July of a year. At the end of the year, the amount he would have gained by
way of interest is?
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Quantitative Aptitude: Simple and Compound Interest
18. What annual payment will discharge a debt of Rs.7620 due in 3 years at 16 2/3% per annum
compound interest?
19. Manish borrowed `1150 from Anil @ S.I rate 6% for 3 years. He then added some more
money to borrowed sum and lent it to Sunil for same time @ S.I rate 9%. If Manish gains
`274.95 by way of interest on borrowed sum as well as his own amount, then what is the
sum lent by him to Sunil?
20. A invested an amount with Bank X for two years at simple rate of interest 15 pcpa. He
invested the entire amount obtained from Bank X after two years with Bank Y at compound
rate of interest 12 p.c.p.a. for two years. If he finally received `73382.4, what was the amount
invested by him with Bank X?
a) `50000 b) `48000 c) `45000
d) `56000 e) `42000
Answers
1. ` 12100
2. ` 1,500
3. 45 years
4. 11/2 years
5. 5%
6. 19000
7. 4000
8. 276:264:253
9. None of these
10. None of these
11. 5 years
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Quantitative Aptitude: Simple and Compound Interest
12. ` 2304
13. 2000, 4 years
14. 20000
15. 4056:3750
16. –
17. –
18. 3430
19. –
20. `45000
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