Simple & Compound Interest
Are you preparing for campus placements, Banking, SSC, IAS, Insurance, Defence and other competitive exams? Then, make sure to take some time in practicing the Simple & Compound Interest questions and answer in Quantitative Aptitude. Moreover, only those questions are included that are relevant and likely to be asked in any competitive exam. So, take these questions and answer, brush up your skills and practice to stay fully prepared for any your exam.
Q22.The difference between the compound interest & the simple interest on a certain sum of money for 2 years at 25% per annum is Rs. 50. Find the sum.
Q23.A sum of money is accumulating at compound interest at a certain rate of interest. If S.I. instead of C.I. were reckoned, the interest for the first two years would be diminished by Rs 20 & that for the first 3 years by Rs. 61
Q24.The difference between the simple Interest & the compound interest annually at the rate of 12% per annum on Rs. 6000 for two years will be.
Q25.A sum of money becomes eight times in 3 years, if the rate is compounded annually. In how much time the same amount at the same compound interest rate will become sixteen times.
Q26.A man borrowed Rs. 2,400 at 12% interest per annum. At the end of years he cleared his account by paying Rs. 1,200 and a ring. Find the cost of the ring.
Q27.A certain sum of money was lent under the following repayment scheme based on simple interest:
9% per annum for the initial 3 years
10% per annum for the next 4 years
11% per annum for the next 2 years
12% per annum after the first 9 years
Find the amount which a sum of Rs. 15,000 taken 11 years taken for 11 years becomes at the end of 11 years?
Q28.A household want to diversified his investment and invest Rs. 24,000 as a part of it at a bank at the rate of 10% per annum. But due to some pressing needs he has to withdraw the entire money after 3 years, for lower rate of interest. If he gets Rs. 6,640 less than what he would have got at the end of 5 years, the rate of interest allowed by the bank is: