Simple Interest and

Compound Interest

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Question

A man took loan from a bank at the rate of 12% p.a.

simple interest. After 3 years he had to pay ₹ 5400
interest only for that period. The principal amount
borrowed by him was:
a) ₹ 2000
b) ₹ 10000
c) ₹ 15000
d) ₹ 20000

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Solution

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Question

At what rate percent per annum will a sum of money double

in 8 years.
a) 12.5%
b) 13.5%
c) 12%
d) 15%

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Solution

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Question

A certain sum of money amounts to ₹ 1008 in 2 years

and to ₹ 1164 in 3 ½ years. Find the sum and the rate
of interest.
a) ₹ 600,14%
b) ₹ 800,13%
c) ₹ 800,15%
d) ₹ 800,16%

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Solution

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Question

How much time will it take for an amount of ₹ 450 to

yield ₹ 81 as interest at 4.5% per annum of simple
interest ?
a) 4 years
b) 2.5 years
c) 3.5 years
d) 2 years

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Solution

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Question

A sum of money at simple interest amounts to ₹ 815 in

3 years and to ₹ 854 in 4 years. The sum is:
a) ₹ 650
b) ₹ 690
c) ₹ 698
d) ₹ 700

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Solution

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Question

A sum was put at simple interest at a certain rate for 3

years. Had it been put at 2% higher rate, it would have
fetched ₹ 360 more. Find the sum.
a) ₹ 4000
b) ₹ 9000
c) ₹ 5000
d) ₹ 6000

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Question

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Question
A sum of ₹ 1550 was lent partly at 8% p.a. and partly at 5% simple
interest. The total interest received after 3 years was ₹ 300. The
ratio of the money lent at 5% to that lent at 8% is :
a) 5:8
b) 6:7
c) 16:15
d) 15:16

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Explanation

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Question
The compound interest on ₹ 30,000 at 7% per annum is
₹ 4,347. The period is
a) 2
b) 2.5
c) 3
d) 4

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Solution

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Question

A sum of money amounts to ₹ 6,690 after 3 years and to

₹ 10,035 after 6 years on compound interest. Find the
sum.
a) ₹ 4360
b) ₹ 4460
c) ₹ 4560
d) ₹ 4660

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Solution

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Question

Find compound interest on ₹ 7500 at 4% per annum for 2

years, compounded annually.
a) ₹ 612
b) ₹ 712
c) ₹ 812
d) ₹ 912

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Solution

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Question

Find compound interest on ₹ 8000 at 15% per annum

for 2 years 4 months, compounded annually
a) ₹ 2109
b) ₹ 3109
c) ₹ 4109
d) ₹ 6109

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Solution

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Question

Find the compound interest on ₹ 16,000 at 20% per

annum for 9 months, compounded quarterly
a) ₹ 2422
b) ₹ 2522
c) ₹ 2622
d) ₹ 2722

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Solution

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Question
The difference between simple and compound interests
compounded annually on a certain sum of money for 2 years at 4%
per annum is ₹ 1. The sum is:
a) ₹ 625
b) ₹ 630
c) ₹ 640
d) ₹ 650

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Solution

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Question

There is 60% increase in an amount in 6 years at simple

interest. What will be the compound interest of ₹ 12,000
after 3 years at the same rate?
a) ₹ 2160
b) ₹ 3120
c) ₹ 3972
d) ₹ 6240

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Solution

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Question

What is the difference between the compound interests

on ₹ 5000 for 1 years at 4% per annum compounded
yearly and half-yearly?
a) ₹ 2.00
b) ₹ 2.05
c) ₹ 4.80
d) ₹ 8.30

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Solution

Ans:a

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Question
The difference between the compound interest compounded
annually and simple interest for 2 years at 20% per annum is
₹144. Find the principal?
a) ₹ 3,000
b) ₹ 3,300
c) ₹ 3,600
d) ₹ 3,900

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Solution
Answer: C. Rs.3,600

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Question
Simple interest on a certain sum at a certain rate of interest for 2
years is ₹ 40 and compound interest for 2 years is ₹ 40.80. Find the
rate of interest and principal?
(a) 4%, ₹ 500
(b) 4%, ₹ 400
(c) 10%, ₹ 200
(d) 20%, ₹ 80

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Solution
Ans: a
I year :SI 20 CI 20
II year :SI 20 CI 20+0.80
0.80=20*r*1/100
=> R=4%

4% of P=20
=> P=500

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