CA FOUNDATION

TEST-01
SAMPURNA JUNE 2024
QUANTITATIVE APTITUDE

Q1 The value of log2 16 is Q7 If P = ₹4, 500, A = ₹7, 200, then Simple

(A) 4 interest i.e. I will be
(B) 8 (A) ₹ 2000 (B) ₹ 3000
(C) 16 (C) ₹ 2500 (D) ₹ 2700
(D) None of the above –
Q8 If loga √3 =
1

6
, find the value of a .
Q2 ₹80,000 is invested to earn a monthly interest of (A) 9 (B) 81
₹1200 at the rate of ________ p.a. simple (C) 27 (D) 3
interest.
Q9 You invest ₹3000 in a two year investment that
(A) 12% (B) 14%
pays you 12% per annum. Calculate the future
(C) 16% (D) 18%
value of the investment.
Q3 If p
=
2
then the value of
2p + q
is (A) ₹3500. 75 (B) ₹3763. 20
q 3 2p − q

(A) 1
(B) − 7 1 (C) ₹3944. 50 (D) None of these
7

(C) 1 (D) 7 Q10 Life Insurance Policy is an example of -

Q4 If log 10 2 = y and log 10 3 = x , then the value (A) Compound interest

of log10 15 is: (B) Annuity

(A) x - y + 1 (C) Effective interest

(B) x + y + 1 (D) Simple interest

(C) x - y - 1 Q11 If P = ₹8,000, R = 5% p.a., A = ₹8,820, then find

(D) y - x + 1
the time period if the interest is compounded
Q5 Sinking fund factor is the reciprocal of annually.

(A) Present value interest factor of a single cash (A) 3.1 years (B) 3 years

flow (C) 2.5 years (D) 2 years

(B) Present value interest factor of an annuity Q12 A bag contained 25 paise, 10 paise and 5 paise
(C) Future value interest factor of an annuity are in the ratio 3 : 2 : 1. The total value of ₹40 ,
(D) Future value interest factor of a single cash the number of 5 paise coins is
flow
(A) 45 (B) 48

Q6 Assuming that the discount rate is 7% p.a. How (C) 40 (D) 20

much would you pay to receive ₹ 500 growing Q13 Ramesh wants to retire and receive ₹3,000 a
at 5% annually forever? month. He wants to pass this monthly payment
(A) ₹ 2500 to future generations after his death. He can
(B) ₹ 5000 earn an interest of 8% compounded annually.
(C) ₹7500 How much will he need to set aside to achieve
(D) ₹ 25, 000 his perpetuity goal?

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 CA FOUNDATION

(A) ₹4,00,000 (B) ₹4,49,775 Find the rate of interest if the amount owned
(C) ₹5,59,775.25 (D) None of these after 24 months is ₹1,800, borrowed amount
being ₹1,500.
Q14 If x = y
a
, y = z
b
and z = x
c
, then abc is
(A) 20% (B) 15%
(A) 2 (B) 1
(C) 10% (D) None of these
(C) 3 (D) 4
Q22 If the ratio of two numbers is 7 : 11. If 7 is added
Q15 Find the present value of an ordinary annuity of
to each number then the new ratio will be 2 : 3.
8 quarterly payments of ₹500 each, the rate of
Then the numbers are
interest being 8% p.a. compound quarterly.
(A) 4275.00 (B) 4725.00
(A) 49, 77 (B) 42, 45
(C) 43, 42 (D) 39, 40
(C) 3662.50 (D) 3266.50
Q23 The effective rate of interest corresponding to a
nominal rate 3% p.a payable half year is
Q16 What must be added to each term of the ratio
(A) 3.2% p.a (B) 3.25% p.a
49 : 68 so that it becomes 3 : 4?
(C) 3.0225% p.a (D) None of these
(A) 3 (B) 5
(C) 8 (D) 9 Q24 Z invest ₹10,000 every year starting from today
for next 10 years. Suppose interest rate is 8%
Q17 If a person lends ₹6000 for 4 years and ₹8000
p.a. compounded annually. Calculate the future
for 3 years at S.I. If the total interest earned is
value of the annuity.
₹2400, then the rate of interest is 10
Given that, (1 + 0. 08) = 2. 15892500
(A) 5% (B) 6%
(A) ₹1,50,580 (B) ₹1,56,454.875
(C) 7% (D) 8%
(C) ₹1,58,652.22 (D) ₹1,56,902.36
Q18 The difference between compound interest and
Q25 The mean proportional between
simple interest on an amount of ₹15, 000 for 2
12x
2
and 27y
2
is
years is ₹96. What is the rate of interest per
(A) 18xy (B) 81xy
annum?
(C) 8xy (D) 9xy
(A) 9% (B) 8%
(C) 11% (D) 10% Q26 A machine is depreciated the rate of 20% on
reducing balance. The was original cost of the
Q19 If
machine was ₹ 1,00,000 and its ultimate scrap
log 3 4. log 4 5. log 5 6. log 6 7. log 7 8. log 8 9 = x ,
value was ₹ 30,000. The effective life of the
then the value of x is
machine is
(A) 4 (B) 2
(A) 4.5 years (appx)
(C) 3 (D) 1
(B) 5.4 years (appx)
Q20 The present value of annuity of ₹80 a year for (C) 5 years (appx)
20 years at 5% p.a. is (D) None of these
(A) ₹997 (appx).
Q27 The C.I on ₹4, 000 for 6 months at 12% p.a
(B) ₹900
payable quarterly is
(C) ₹1000
(A) ₹243.60 (B) ₹240
(D) none
(C) ₹243 (D) None of these
Q21

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 CA FOUNDATION

Q28 The present value of an annuity of ₹3,000 for 15 P = ₹5, 000 ; R = 15% ; T = 4
1

2
years,

years at 4.5% p.a. C.I. is: using I =

P RT
then I will be
100
15
[Given that, (1. 045) = 1. 935282 ] (A) ₹3,375 (B) ₹3,300
(A) ₹23,809.67 (B) ₹32,218.67 (C) ₹3,735 (D) None
(C) ₹32,908.67 (D) None of these
Q36 In how many years will a sum of money double
Q29
6

at 5% p.a. compound interest?

4 3
64(b a )
The value of 2
is
3
2
[4(a b) ×(ab) ] (A) 15 years 3 months
(A) 16a10 b20 (B) 4a20 b10 (B) 14 years 2 months
(C) 8a10 b20 (D) 4a10 b20 (C) 14 years 7 months
(D) 15 years 2 months
Q30 Four persons A, B, C, D wish to share a sum in
the ratio of 5 : 2 : 4 : 3. If D gets ₹1000 less than Q37 If 2
x−y
= 8 and 2
x+y
= 32 , then the values of
C, then the share of B ? x and y are
(A) ₹2000 (A) (2, 3) (B) (4, 1)
(B) ₹1200 (C) (1, 5) (D) None of these
(C) ₹2400
Q38 What is the present value of ₹1 to be received
(D) ₹3000
after 2 years compounded annually at 10% ?
Q31 A loan of ₹10,000 is to be paid back in 30 equal (A) ₹0.83 (B) ₹0.91
installments. The amount of each installment to (C) ₹0.88 (D) ₹0.79
cover the principal and at 4% p.a C.I is
Q39 x
a−b
× x
b−c
× x
c−a
is equal to
(A) ₹587.87 (B) ₹587
(A) x (B) 1
(C) ₹578.30 (D) None of these
(C) 0 (D) none of these
−1 −1

Q32 The value of ( 8 ) 32

27
3
× (
243
)
5
is Q40 The value of log 3 8
is:
log 9 16 .log 4 10

(A) 9
(B) 4

(A) 3
4 9 log 10 2
(C) 2
(D) none of these (B) 7 log 10 3
3

(C) 3 loge 3
Q33 The monthly income of A and B are in the ratio
(D) None
4 : 5 and their monthly expenditures are in the
ratio 5 : 7. If each saves ₹150 per month, find Q41 If in two years, a principal of ₹100 amounts to
their monthly incomes. ₹121 when the interest at the rate of r% is
(A) (₹ 40, ₹ 50) compounded annually, then the value of r will
(B) (₹ 50, ₹ 40) be
(C) (₹ 400, ₹ 500) (A) 14 (B) 10.5
(D) None of these (C) 15 (D) 10

Q34 If a sum triples in 15 years at simple rate of Q42 If

1 1

, then find the value of

−
x = 3 3 + 3 3

interest, then the rate of interest per annum will

3x
3
− 9x .
be
(A) 3 (B) 9
(A) 13.0% (B) 13.3%
(C) 12 (D) 10
(C) 14% (D) 18%
Q43 If the interest of a money is equal to its one by
Q35
nine, the rate of interest and time are equal,

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 CA FOUNDATION

then the rate of interest is (C) 17 years

(A) 3 3 %
1
(D) 19 years (approx)
(B) 4 2 %
1

Q50 A sinking fund is created for redeeming

(C) 3%
debentures worth ₹5 lakhs at the end of 25
(D) 3.5%
years. How much provision needs to be made
Q44 What sum of money will produce ₹42,800 as an out of profits each year provided sinking funds
interest in 3 years and 3 months at 2.5% p.a. investments can earn interest at 4% p.a.?
simple interest? (A) ₹12, 006 (B) ₹12, 040
(A) ₹3,78,000 (B) ₹5,26,769 (C) ₹12, 039 (D) ₹12, 035
(C) ₹4,22,000 (D) ₹2,24,000

Q45 Find the ratio of third proportional of 12, 30

and mean proportional of 9, 25 .

(A) 7 : 2

(B) 5 : 1

(C) 9 : 4

(D) None of these

Q46 If the nominal growth rate remains at 18% and

inflation persists at 9% for the next five years.
Let A be the current Gross Domestic Product
(GDP) amount. What would be the projected
real GDP after 7 years?
(A) 1.187 A (B) 1.971 A
(C) 1.828 A (D) 2.515 A

Q47 What is the net present value of a piece of

property which would be valued at ₹ 2 lakh at
the end of 2 years?
(Annual rate of increase 5%)
(A) ₹2.00 lakh
(B) ₹1.81 lakh
(C) ₹2.01 lakh
(D) None of the above

Q48 Solve for ′ b′ if 122b+4 = 3

3b
× 4
b+8

(A) −4 (B) 2
(C) 4 (D) −2

Q49 The population of a town increase by 2% of the

population at the beginning of the year. The
number of year by which the total increases in
population would be 40% is:
(A) 7 years
(B) 10 years

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 CA FOUNDATION

Answer Key
Q1 (A) Q26 (B)

Q2 (D) Q27 (A)

Q3 (D) Q28 (B)

Q4 (A) Q29 (A)

Q5 (C) Q30 (A)

Q6 (D) Q31 (C)

Q7 (D) Q32 (A)

Q8 (C) Q33 (C)

Q9 (B) Q34 (B)

Q10 (B) Q35 (A)

Q11 (D) Q36 (B)

Q12 (C) Q37 (B)

Q13 (B) Q38 (A)

Q14 (B) Q39 (B)

Q15 (C) Q40 (A)

Q16 (C) Q41 (D)

Q17 (A) Q42 (D)

Q18 (B) Q43 (A)

Q19 (B) Q44 (B)

Q20 (A) Q45 (B)

Q21 (C) Q46 (C)

Q22 (A) Q47 (B)

Q23 (C) Q48 (C)

Q24 (B) Q49 (C)

Q25 (A) Q50 (A)

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 CA FOUNDATION

Hints & Solutions

Q1 Text Solution: Sinking fund factor is used to calculate periodic
log 2 16 payments needed to accumulate a future sum
= log 2 2
4 where interest is compounded at the end of
= 4 log 2 2 every period.

= 4(1)
Therefore, Sinking fund factor is the reciprocal
of Future value interest factor of an annuity.
= 4

Hence, the correct option is (A). Q6 Text Solution:

Q2 Text Solution: We know that,
A
Given, PV A =
i−g

P = ₹80, 000 and S . I . per month = ₹1200 =

500

0.07−0.05
1
⇒ T = years 500
12
=
We know that, 0.02

P ×R×T
= 25, 000
S. I. =
100
Therefore, the required amount is ₹ 25, 000 .
80,000×R×1
⇒ 1200 =
12×100 Q7 Text Solution:
1200×1200
⇒ R =
80000
Given: P = ₹4, 500, A = ₹7, 200
⇒ R = 18% We know that,
Therefore, the required rate of interest is 18%. Amount = Principal + Interest
Hence, the correct option is (D). ⇒ Interest = Amount - Principal
Q3 Text Solution: = ₹7, 200 − ₹4, 500
Given,
p
=
2
₹2, 700
=
q 3
Thus, the simple interest is ₹2, 700.
Let p = 2x and q = 3x
2p+q Hence, the correct option is (D).
Then, 2p−q

2(2x)+3x Q8 Text Solution:

⇒ –
2(2x)−3x 1
log a √3 =
6
4x+3x
⇒ log √3
4x−3x 1
⇒ =
log a 6
7x
⇒ –
x
⇒ log a = 6 log √3
7
⇒ – 6
1
⇒ log a = log (√3 )
⇒ 7
3
⇒ a = 3 = 27

Q4 Text Solution:
Given: log10 2 = y and log 10 3 = x
Q9 Text Solution:
30 According to the question, we have
log 10 15 = log 10 ( ) = log 10 30 − log 10 2
2
Cash flow, A = ₹3000
= log 10 (3 × 10) − log 10 2
i = 12% = 0. 12
= log 10 3 + log 10 10 − log 10 2
n = 2 years
=x+1-y
Therefore, Future value is given by:
Therefore, log10 15 = x − y + 1

Q5 Text Solution:
We know that,

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 CA FOUNDATION
n
F . V = A(1 + i) Thus,
2 8% 8
⇒ F V = 3000(1 + 0. 12) i = 8% p.a. = per month = = 0
12 12×100

⇒ F V = 3000 × 1. 2544 . 00667 per month

⇒ F V = 3763. 20 We know that,

Hence, the required value is ₹3763. 20. PV A =
A

Q10 Text Solution: =

3000

0.00667

We know that an annuity is defined as a

= 4, 49, 775 (approx.)
sequence of payments of equal size that are Therefore, he need to set aside the amount
made at equal intervals of time, similar is the of ₹4,49,775 to achieve his perpetuity goal.
case with life insurance policy.
Q14 Text Solution:
Thus, life insurance policy is an example of
Given: x = y
a
, y = z
b
and z = x
c

annuity.
Put the value of y = z
b
in x = y
a

Hence, the correct option is (B) i.e., annuity. a

ab
b
⇒ x = (z ) = z
Q11 Text Solution: Put the value of z ,
Given: P = ₹8,000, R = 5% p.a. and A = ₹8,820 ⇒ x =
c ab
(x )
We know that, ⇒ x =
abc
x
n

An = P (1 + i) On comparing the powers,

5
t ⇒ abc = 1
⇒ 8820 = 8000(1 + )
100
Hence, the correct option is (B) i.e., 1.
t
8820
⇒
8000
= (1. 05)
Q15 Text Solution:
t Given,
⇒ 1. 1025 = (1. 05)
A = ₹500, r = 8% p. a, n = 8, c = 4
2 t
0.08
⇒ i = = 0. 02
⇒ (1. 05) = (1. 05) 4

We know that,
⇒ t = 2 years n
A[(1+i) −1]

Therefore, the required time period is 2 years. PV =

i(1+i)
n

Hence, the correct option is (D). 500[(1+0.02) −1]

8

=
Q12 Text Solution: 0.02(1+0.02)
8

Given, Ratio of 25 paise, 10 paise and 5 paise =

500(1.17166−1)

0.02(1.17166)
coins = 3 : 2 : 1
Total value = ₹40
= 3662. 50 (approx)
Let the number of 25 paise coins, 10 paise coins
and 5 paise coins be 3x, 2x and x respectively.
Q16 Text Solution:
Then, the value =
Let x be added to each term of the ratio 49 : 68
0. 25 × 3x + 0. 10 × 2x + 0. 05 × x
so that it becomes 3 : 4, then
⇒ 0. 75x + 0. 20x + 0. 05x = 40
49+x 3
=
⇒ x = 40 68+x 4

Therefore, the number of 5 paise coins = x = 40.

⇒ 4(49 + x) = 3(68 + x)

Q13 Text Solution:

⇒ 196 + 4x = 204 + 3x
Given, A = ₹3,000 and i = 8% p.a.
⇒ x = 8

Q17 Text Solution:

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 CA FOUNDATION

Given information: A = value of each payment

First case: P1 = ₹6000, T1 = 4 years i = rate of interest per period
Second case: P2 = ₹8000, T2 = 3 years n = number of periods
Total interest earned is ₹2400. Given,
Let the rate of interest be R%. P = ₹80 ,
We know that, i = 5% p. a. = 0.05 p. a.
P ×R×T
S. I. = n = 20
100

For the first case, S I1 =

6000×R×4
= 240R Thus,
100
−20

For the second case, S I2

8000×R×3 1 − (1 + 0.05)
= = 240R
100 P . V . = 80 ×
0.05

According to the question, 1 − 0.37689

P . V . = 80 × ( )
0.05
240R + 240R = 2400
P . V . = 1600 × 0.62311
⇒ 480R = 2400
P . V . = 996.97
⇒ R = 5%

Thus, the rate of interest is 5%. Hence, the correct answer is option (A) i.e.
Hence, the correct option is (A). ₹997(appx).

Q18 Text Solution: Q21 Text Solution:

Given, Difference between compound interest Given,
and simple interest = ₹96 Amount (A) = ₹1800
We know that, Principal (P) = ₹1500
If P be the Principal and i be the rate of interest Time (T) = 24 months = 2 years
C . I . −S . I . = P i
2
We know that,
2 R×T
⇒ 96 = 15000 × i A = P (1 + )
100
2 96
⇒ i = R×2
15000 ⇒ 1800 = 1500 (1 + )
100
2
⇒ i = 0. 0064 1800 2R
⇒ = 1 +
2 1500 100
2
⇒ i = (0. 08)
2R
⇒ 1. 2 = 1 +
⇒ i = 0. 08 100

r 2R
i. e. , = 0. 08 = 8% ⇒ 0. 2 =
100 100

⇒ R = 10%

Q19 Text Solution: Therefore, the required rate of interest is 10%.

Given, Q22 Text Solution:
log 3 4. log 4 5. log 5 6. log 6 7. log 7 8
Given: Ratio of two numbers = 7 : 11
. lo g8 9 = x
Let us assume the two numbers to be 7x and
log 4 log 5 log 6 log 7 log 8 log 9
⇒
log 3
.
log 4
.
log 5
.
log 6
.
log 7
.
log 8
= x 11x.
log 9 According to the question,
⇒ x =
log 3 7x + 7 2
=
11x + 7 3
2
log 3
⇒ x =
log 3
On cross-multiplying, we get
2 log 3 3(7x + 7) = 2(11x + 7)
⇒ x =
log 3
⇒ 21x + 21 = 22x + 14
⇒ x = 2
⇒ 22x - 21x = 21 - 14
Q20 Text Solution: ⇒x=7
The present value is calculated by the given Therefore, the numbers are 7 × 7 and 11 × 7

formula:- i.e., 49 and 77 respectively.

−n
1 − (1 + i)
P. V . = A × , where Hence, the correct option is (A) i.e., 49, 77.
i

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 CA FOUNDATION

Q23 Text Solution: Q26 Text Solution:

Given: Rate (R) = 3% p.a. Given: Rate of depreciation = i =
R

100
= 0. 02

Interest is payable half yearly, i.e., it is paid 2 Original Cost = ₹1, 00, 000
times or twice a year. Scrap Value = ₹30, 000
Actual Interest rate, i =
R

n
where, n is time Scrap Value is given by the formula,
period Scrap Value = Original Cost ×(1 − i)
n

Here, n = 2 as interest is payable half - yearly. Putting the respective values in the formula,
R 3% n
i = = = 1. 5% = 0. 015 ⇒ 30000 = 100000(1 − 0. 2)
n 2

Thus, Effective Rate of Interest (E) is given as: ⇒ 0. 3 = (0. 8)

n

[(1 + i)
n
− 1] × 100%
Taking log on both sides,
⇒ log 0. 3 = n log 0. 8
2
= [(1 + 0. 015) − 1] × 100% log 0.3
⇒ n =
log 0.8

2 −0.522
= [(1. 015) − 1] × 100% ⇒ n =
−0.0969

⇒ n = 5. 3869 ≈ 5. 4 years
= [1. 030225 − 1] × 100%

= 0. 030225 × 100%
Q27 Text Solution:
= 3. 0225%
Given: Principal (P ) = ₹4, 000
Q24 Text Solution: Time (t) = 6 months =
6
=
1
years
12 2
Given: A = ₹10,000, n = 10, i = 8% = 0.08 p.a. Rate (R) = 12%

Since, the investment is starting from that day, n = 4 [∵ There are 4 quarters in an year]
thus Compound Interest is given as,
Future value can be calculated as: R
nt

n
C . I = P (1 + ) − P
(1+i) −1 n× 100
1
A(n, i) = A [ ] × (1 + i) 12 4 ×
i 2
= 4000(1 + ) − 4000
4 × 100
10
(1+0.08) −1 2
⇒ A(10, 0. 08) = 10, 000 [ ] = (4000(1.03) − 4000)
0.08

= 4243.60 − 4000

= 243.60
× (1 + 0. 08)

Hence, the correct answer is option (A ) i.e.,

10
(1.08) −1
= 10000 [ ] × (1. 08) ₹243.60 .
0.08

2.15892500−1 Q28 Text Solution:

= 10000 [ ] × (1. 08)
0.08

1.15892500
Given that,
= 10000 [ ] × (1. 08)
0.08 Rate of interest, r = 4.5% p.a.
= ₹1, 56, 454. 875 Time period, n = 15 years
Hence, the correct answer is option (B). Annuity, A = ₹3,000
Q25 Text Solution: Now, using the formula to calculate present
We know that, value of annuity i.e.,
−− −n

Mean proportion between a and b = √ab

PV = A [
1−(1+i)
] where, i =
r

i 100
Therefore, the required mean proportion:
−− −− −−−− −−
√ 12x 2 × 27y 2

−−−−−−−−−−−−−−−−−−−−−−−−
2 2
= √2 × 2 × 3 × x × 3 × 3 × 3 × y

= 2 × 3 × 3 × x × y

= 18xy

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 CA FOUNDATION
−15 n
1−(1+0.045) (1+i) −1
⇒ P V = 3000 [ ] P (n, i) = A ( n
)
0.045 i(1+i)

−15 30
1−(1.045) (1+0.04) −1
⇒ P V = 3000 [ ] ⇒ P (30, 0. 04) = A ( )
0.045 30
0.04(1+0.04)

1
1− 3.243397−1
(1.045)
15 ⇒ 10, 000 = A ( )
0.04(3.243397)
⇒ P V = 3000 [ ]
0.045

2.243397
⇒ 10, 000 = A ( )
1 0.04(3.243397)
1−
1.935282
⇒ P V = 3000 [ ] 10000×0.04×3.243397
0.045 ⇒ A =
2.243397

0.935282 ⇒ A = 578. 30
⇒ P V = 3000 [ ]
0.045×1.935282
Therefore, the amount of each installment
⇒ P V = 3000 × 10. 7395431
is ₹578.30.
⇒ P V = 32218. 629
Hence, the correct answer is option (C).
⇒ PV ≈ ₹32, 218. 67
Hence, option (B) is the correct answer. Q32 Text Solution:
−1 −1

Q29 Text Solution: (

8
)
3
× (
32
)
5

27 243
4 6
3
64(b a ) −1 −1

3 5
2 3 2 5
2
2 = ( ) × ( )
[4(a3 b) ×(ab) ] 3 3
3 3

−1 −1
24 18 3× 5×
64×b a 2 2
= = ( ) 3
× ( ) 5

2 2 3 3
[4×a6 b ×a2 b ]
−1 −1
2 2
24−2−2 18−6−2 = ( ) × ( )
= 16 × b a 3 3
20 10 3 3
= 16b a = ×
2 2

Q30 Text Solution: 9

=
Given, Ratio of A, B, C and D = 5 : 2 : 4 : 3
4
−1 −1

Therefore, the value of is

8 3 32 5
( ) × ( )
Let the share of A, B, C and D be 5x, 2x, 4x and 27 243

.
9

3x respectively. 4

Since, D gets ₹1000 less than C, thus Hence, the correct answer is option (A)
D = C − 1000 Q33 Text Solution:
⇒ 3x = 4x − 1000
Given: Ratio of monthly incomes of A and B = 4 :
⇒ x = 1000
5
Therefore, the share of B
Ratio of their expenditures = 5 : 7
= 2x = 2(1000) = 2000
Let the monthly income of A be 4x and that of B
Hence, the correct option is (A).
be 5x
Q31 Text Solution: Let the monthly expenses of A be 5y and that of
Given: Loan amount = Present Value = ₹10,000 B be 7y
Number of installments (n) = 30 According to the question,
Rate of interest (i) = 4% = 0.04 p.a. 4x − 5y = 150 ........(1)
Let A be the required amount of installments. 5x − 7y = 150 ........(2)
Present value is given by the formula, Multiply eq (1) with 5 and (2) by 4, thus we get
20x - 25y = 750
20x - 28y = 600
On solving both equations, we get
3y = 150
y = 50

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 CA FOUNDATION

Thus, 4x - 250 = 150 n

R
(A) = P (1 + )
4x = 400 100

x = 100 5
n
⇒ 2P = P (1 + )
Therefore, the monthly income of A = 4x = 4(100) 100

1 n

= ₹ 400 ⇒ 2 = (1 +
20
)

Monthly income of B = 5x = 5(100) = ₹ 500 ⇒ 2 = (

21
)
n

20

21
⇒ log 2 = n log ( )
20

Q34 Text Solution: log 2

⇒ n =
Given, log (
21

20
)

Time = 15 years ⇒ n = 14. 2

Let the Principal be x. Therefore, the number of years it will take to

Then, Amount = 3x double the money at 5% p.a. compound interest
We know that, is 14 years and 2 months (approx).
Simple interest = Amount - Principal Q37 Text Solution:
⇒ S . I . = 3x − x = 2x
Given,
Now, I
P ×R×T
= x−y x+y
100 2 = 8 and 2 = 32
2x×100
⇒ R = x−y 3 x+y 5
x×15 ⇒ 2 = 2 and 2 = 2

2×100
⇒ R = ⇒ x − y = 3 and x + y = 5
15

200 On adding
⇒ R = ≈ 13. 3%
15
2x = 8
Hence, the correct option is (B).
⇒ x = 4

Q35 Text Solution: T hus, y = 1

Given, Therefore, the values of x and y are 4 and 1.

P = ₹5, 000, R = 15%, T = 4
1

2
= 4. 5 Q38 Text Solution:
years
Given: F . V or A(n, i) = ₹1, n = 2 years and
Since,
p.a.
10
i = 10% = = 0.1
P RT 100
I =
100 We know that,
5000×4.5×15 F.V
⇒ I = P . V (n, i) =
100 n
(1 + i)

⇒ I = 3375 1
⇒ P. V (2, 0.1) =
Therefore, the required interest is ₹3375.
2
(1 + 0.1)

1
=
Q36 Text Solution:
2
(1.1)

Given, = 0.83 (approx.)

Rate of interest, R = 5% Therefore, the required present value is ₹0.83.
Let the principal be P, Hence, the correct answer is option (A) i.e.
Then, as per the statement, Amount, A = 2P ₹0.83.

We know that, Q39 Text Solution:

To find: xa−b × x
b−c
× x
c−a

We know that,
m n m+n
a × a = a
a−b b−c c−a
⇒ x × x × x
a−b+b−c+c−a
= x
0 0
= x = 1 (∵ a = 1)

Q40 Text Solution:

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 CA FOUNDATION
7 5 7 5
log 3 8
To simplify: log 9 16 .log 4 10
= 10 + 3 3 + 3 3 − 3 3 − 3 3

This expression can be rewritten as: = 10

log 3 8 log 3 2
3
Hence, the correct answer is option (D) i.e., 10.
⇒ =
log 9 16 .log 4 10 4
log 2 ×log 10
Q43 Text Solution:
2 2
3 2

We know that,
b
Let P be the principal, R be the rate of interest
log a = b log a
3 log
3
2 and T be the time, then
⇒
4

2
log
3
2 ×
1

2
log
2
10 According to the question,
On further simplification, we get S. I =
1

9
P and R = T …. (i)
3
=
4 1
We know that,
× log 2 10
2 2 P×R×T
3 S. I. =
= 100
log 2 10
(from i)
1 P×R×R
⇒ P =
It is known that, 1

log a b
= log b a
9
2
100

1 R

log 3 8
⇒ 9
=
100
So, = 3 log 10 2
⇒ R2 100
log 9 16. log 4 10 =
9
log 3 8
Thus, the value log 9 16. log 4 10
is 3 log10 2 . ⇒R =
10
(since, R cannot be negative)
3
1
Hence, the correct option is (A) i.e., 3 log 10 2 . ⇒ R = 3
3
%

Hence, the correct answer is option (A) i.e.

Q41 Text Solution:
3
1
% .
Given: P = ₹100, A = ₹121 and Time (n) = 2 years 3

Since, the interest is compounded annually, Q44 Text Solution:

thus Given: Principal (P) = ₹42,800
n
A = P [1 +
r
] Rate of interest (R) = 2.5% p.a.
100

⇒ 121 = 100[1 +
r
]
2
Time (T) = 3 + 3

12
= 3. 25 years
100

121 r
2 As we know,
⇒ = [1 + ]
100 100
Simple interest is given by the formula,
11 r
⇒ = 1 + P ×R×T
10 100 (S . I ) =
100
11
⇒ r = (
10
− 1) × 100 where P is the Principal, R is the rate of Interest
⇒ r = 10 and T is the time.
Therefore, the rate of interest is 10%. Amount is given by the formula,
Hence, the correct answer is option (D) i.e. 10%. A = S.I + P
Thus, Simple Interest will be given as,
Q42 Text Solution: P ×2.5×3.25
⇒ 42800 =
As we know, 100

3 3 3 2 2 42800×100
(a + b) = a + b + 3a b + 3ab ⇒ P =
2.5×3.25

So, x will be,

3
⇒ P = ₹526769. 23 ≈ ₹5, 26, 769
3

x
3
= (3
1

3 + 3
−
1

3 )
Hence, the correct answer is option (B).

1 3
−
1 3 Q45 Text Solution:
= (3 3 ) + (3 3 )
Let the third proportional to 12 and 30 be x.
1 2
−
1 1
−
1 2
Then, 12 : 30 :: 30 : x
+ 3( 3 3 ) (3 3 ) + 3 (3 3 ) (3 3 )
12 30
⇒ =
4 2 30 x
3 1
x = 3 + + 3 3 + 3 3
3 30×30
⇒ x =
Now, 3x3 − 9x will be, 12

4 2 ⇒ x = 75
1
= 3 (3 +
3
+ 3 3 + 3 3 ) Thus, third proportional to 12 and 35 is 75.
1
−
1 Also, Mean proportional between 9 and 25
− 9 (3 3 + 3 3 )

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 CA FOUNDATION
−−−−−
= √9 × 25 Hence, the correct option is (C) i.e., 4
= 3 × 5
Q49 Text Solution:
= 15

Required ratio =
75
= 5 : 1
Given that,
15

Hence, the correct answer is option (B). Percentage increase in population, r = 2%

Let, the time period be n = t years
Q46 Text Solution:
Principal amount, P = 1
Given: Nominal rate of return = 18% p.a.
Compound amount after t years, A = 1 + 40% =
Inflation = 9% p.a.
1.40
Effective Interest = 18% − 9% = 9% p.a.
Now, using the formula of compound amount
9
= = 0.09 p. a.
100 i.e.,
Let P be the Gross Domestic Product i.e. r
n
A = P (1 + )
Present value,
100

2 t
⇒ 1. 40 = 1(1 + )
Future Value is given by the formula, 100

n t
F. V = P . V (1 + i)
⇒ 1. 40 = (1. 02)
7
= A(1 + 0.09)
17 t
= A(1.828039) ≈ 1.828A ⇒ (1. 02) = (1. 02)

Q47 Text Solution: ⇒ t = 17 years

Given: Present value (P.V) = ₹2,00,000 Q50 Text Solution:

Rate of Interest (R) = 5% p.a. Given:
Time (n) = 2 years Future value or A(n, i) = 5, 00, 000
To find: Annuity (A) Time (n) = 25 years
Present Value (P.V) is given by the formula, Rate of interest (i) = 4% p. a. = 0.04 p. a.
n
R
⇒ P ⋅ V = A[1 + ]
100 We know that,
n
2 (1 + i) − 1
5
⇒ 200000 = A[1 + ] F. V . = A [ ]
100 i

2 25
(1 + 0.04) − 1
⇒ 200000 = A[1 + 0. 05] ⇒ 5, 00, 000 = A [ ]
0.04

200000
⇒ A = 2.6658363 − 1
1.1025 ⇒ 5, 00, 000 = A [ ]
0.04

⇒ A = 181405. 895 ≈ 1. 81 lakhs

⇒ 5, 00, 000 = A(41.645908)
Hence, the correct answer is option (B). 500000
⇒ A =
41.645908
Q48 Text Solution: ⇒ A = ₹12, 006 (approx.)
We have, Hence, the correct option is (A) i.e. ₹12, 006.
2b + 4 3b b + 8
12 = 3 × 4

2b + 4 2b + 4 3b b + 8
⇒ 3 × 4 = 3 × 4
2b + 4 b+8
3 4
⇒ =
3b 2b+4
3 4
2b + 4 − 3b b + 8 − 2b − 4
⇒ 3 = 4
m
a m − n
(∵ n = a )
a
4 − b 4 − b
⇒ 3 = 4
4 − b
3
⇒ = 1
4 − b
4
4 − b 0
(∵ for a )
3 3 0
⇒ ( ) = ( ) a = 1 ≠ 0
4 4

On comparing, we get
⇒ 4 − b = 0

⇒ b = 4

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