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Aptitude

At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

Aptitude, Compound Interest /
Question:
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

[A].

6%

[B].

6.5%

[C].

7%

[D].

7.5%

Answer: Option A

Explanation:

Let the rate be R% p.a.

Then, 1200 x 1 + R 2 = 1348.32
100
1 + R 2 = 134832 = 11236
100 120000 10000
1 + R 2 = 106 2
100 100
1 + R = 106
100 100

R = 6%

At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years? Read More »

Aptitude, Compound Interest

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

Aptitude, Compound Interest /
Question:
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

[A].

2

[B].

2 1
2

[C].

3

[D].

4

Answer: Option A

Explanation:

Amount = Rs. (30000 + 4347) = Rs. 34347.

Let the time be n years.

Then, 30000 1 + 7 n = 34347
100
107 n = 34347 = 11449 = 107 2
100 30000 10000 100

n = 2 years.

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is: Read More »

Aptitude, Compound Interest

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

Aptitude, Compound Interest /
Question:
The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

[A].

Rs. 2.50

[B].

Rs. 3

[C].

Rs. 3.75

[D].

Rs. 4

Answer: Option B

Explanation:

S.I. = Rs 1200 x 10 x 1 = Rs. 120.
100
C.I. = Rs. 1200 x 1 + 5 2 – 1200 = Rs. 123.
100

Difference = Rs. (123 – 120) = Rs. 3.

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is: Read More »

Aptitude, Compound Interest

What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?

Aptitude, Compound Interest /
Question: What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?

[A].

Rs. 2.04

[B].

Rs. 3.06

[C].

Rs. 4.80

[D].

Rs. 8.30

Answer: Option A

Explanation:

C.I. when interest
compounded yearly    
= Rs. 5000 x 1 + 4 x 1 + x 4
100 100
= Rs. 5000 x 26 x 51
25 50
= Rs. 5304.
C.I. when interest is
compounded half-yearly
= Rs. 5000 x 1 + 2 3
100
= Rs. 5000 x 51 x 51 x 51
50 50 50
= Rs. 5306.04

Difference = Rs. (5306.04 – 5304) = Rs. 2.04

What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly? Read More »

Aptitude, Compound Interest

A bank offers 5% compound interest 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:

Aptitude, Compound Interest /
Question: A bank offers 5% compound interest 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:

[A].

Rs. 120

[B].

Rs. 121

[C].

Rs. 122

[D].

Rs. 123

Answer: Option B

Explanation:

Amount
= Rs. 1600 x 1 + 5 2 + 1600 x 1 + 5
2 x 100 2 x 100
= Rs. 1600 x 41 x 41 + 1600 x 41
40 40 40
= Rs. 1600 x 41 41 + 1
40 40
= Rs. 1600 x 41 x 81
40 x 40
= Rs. 3321.

C.I. = Rs. (3321 – 3200) = Rs. 121

A bank offers 5% compound interest 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: Read More »

Aptitude, Compound Interest

What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?

Aptitude, Compound Interest /
Question:
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?

[A].

Rs. 9000.30

[B].

Rs. 9720

[C].

Rs. 10123.20

[D].

Rs. 10483.20

Answer: Option C

Explanation:

Amount
= Rs. 25000 x 1 + 12 3
100
= Rs. 25000 x 28 x 28 x 28
25 25 25
= Rs. 35123.20

C.I. = Rs. (35123.20 – 25000) = Rs. 10123.20

What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.? Read More »

Aptitude, Compound Interest

Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

Aptitude, Compound Interest /
Question: Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

[A].

Rs. 8600

[B].

Rs. 8620

[C].

Rs. 8820

[D].

None of these

Answer: Option C

Explanation:

Amount
= Rs. 8000 x 1 + 5 2
100
= Rs. 8000 x 21 x 21
20 20
= Rs. 8820.

Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit? Read More »

Aptitude, Compound Interest

A watch which gains 5 seconds in 3 minutes was set right at 7 a.m. In the afternoon of the same day, when the watch indicated quarter past 4 o’clock, the true time is:

Aptitude, Clock /
Question:
A watch which gains 5 seconds in 3 minutes was set right at 7 a.m. In the afternoon of the same day, when the watch indicated quarter past 4 o’clock, the true time is:

[A].

59 7 min. past 3
12

[B].

4 p.m.

[C].

58 7 min. past 3
11

[D].

2 3 min. past 4
11

Answer: Option B

Explanation:

Time from 7 a.m. to 4.15 p.m. = 9 hrs 15 min. = 37 hrs.
4

3 min. 5 sec. of this clock = 3 min. of the correct clock.

37 hrs of this clock = 1 hrs of the correct clock.
720 20
37 hrs of this clock = 1 x 720 x 37 hrs of the correct clock.
4 20 37 4

      = 9 hrs of the correct clock.

The correct time is 9 hrs after 7 a.m. i.e., 4 p.m.

A watch which gains 5 seconds in 3 minutes was set right at 7 a.m. In the afternoon of the same day, when the watch indicated quarter past 4 o’clock, the true time is: Read More »

Aptitude, Clock

A watch which gains uniformly is 2 minutes low at noon on Monday and is 4 min. 48 sec fast at 2 p.m. on the following Monday. When was it correct?

Aptitude, Clock /
Question:
A watch which gains uniformly is 2 minutes low at noon on Monday and is 4 min. 48 sec fast at 2 p.m. on the following Monday. When was it correct?

[A].

2 p.m. on Tuesday

[B].

2 p.m. on Wednesday

[C].

3 p.m. on Thursday

[D].

1 p.m. on Friday

Answer: Option B

Explanation:

Time from 12 p.m. on Monday to 2 p.m. on the following Monday = 7 days 2 hours = 170 hours.

The watch gains 2 + 4 4 min. or 34 min. in 170 hrs.
5 5
Now, 34 min. are gained in 170 hrs.
5
2 min. are gained in 170 x 5 x 2 hrs = 50 hrs.
34

Watch is correct 2 days 2 hrs. after 12 p.m. on Monday i.e., it will be correct at 2 p.m. on Wednesday.

A watch which gains uniformly is 2 minutes low at noon on Monday and is 4 min. 48 sec fast at 2 p.m. on the following Monday. When was it correct? Read More »

Aptitude, Clock

At what time between 5.30 and 6 will the hands of a clock be at right angles?

Aptitude, Clock /
Question:
At what time between 5.30 and 6 will the hands of a clock be at right angles?

[A].

43 5 min. past 5
11

[B].

43 7 min. past 5
11

[C].

40 min. past 5

[D].

45 min. past 5

Answer: Option B

Explanation:

At 5 o’clock, the hands are 25 min. spaces apart.

To be at right angles and that too between 5.30 and 6, the minute hand has to gain (25 + 15) = 40 min. spaces.

55 min. spaces are gained in 60 min.

40 min. spaces are gained in 60 x 40 min = 43 7 min.
55 11
Required time = 43 7 min. past 5.
11

At what time between 5.30 and 6 will the hands of a clock be at right angles? Read More »

Aptitude, Clock