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Aptitude

The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:_______?

Compound Interest, Mathematics Mcqs /
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:_______?

A. Rs 6.06%
B. Rs 6.07%
C. Rs 6.08%
D. Rs 6.09%
Explanation:
Let the sum be Rs 100.
Then P = Rs 100, R = 3 %
per half – year, t = 2 half – years
Amount = Rs [100 × (1 + 3/100)2]
= Rs (100 × 103/100 × 103/100)
= Rs 10609/100 = Rs 106.09
Effective Annual Rate = 6.09%

The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:_______? Read More »

Compound Interest, Mathematics Mcqs

The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10% per annum is Rs 65. The sum is_________?

Compound Interest, Mathematics Mcqs /
The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10% per annum is Rs 65. The sum is_________?

A. Rs 6500
B. Rs 6565
C. Rs 65065
D. Rs 65650
Explanation:
Let the sum be Rs x.
Then [x × (1 +10/100)2 – x] – (x × 10/100 × 2) = 65
=> (x × 11/10 × 11/10 – x) – x/5 = 65
=> (121x/100 – x) – x/5 = 65
=> (21x/100 – x/5) = 65
=> (21x – 20x) = 6500
=> X = 6500

The difference between simple and compound interest (compounded-annually) on a sum of money for 2 years at 10% per annum is Rs 65. The sum is_________? Read More »

Compound Interest, Mathematics Mcqs

A man deposited Rs 6000 in a bank at 5% P.a simple interest another man deposits Rs 5000 at 8% P.a Compounded interest. After 2 years the difference of their interest will be_________?

Compound Interest, Mathematics Mcqs /
A man deposited Rs 6000 in a bank at 5% P.a simple interest another man deposits Rs 5000 at 8% P.a Compounded interest. After 2 years the difference of their interest will be_________?

A. Rs 230
B. Rs 232
C. Rs 600
D. Rs 832
Explanation:
S.I = Rs (6000 × 5/100 × 2) = Rs 600
C.I = Rs [5000 × (1 + 8/100)2 – 5000]
= Rs (5000 × 27/25 × 27/25 – 5000)
= Rs(5832 – 5000)
= Rs 832
(C.I) – (S.I) = Rs (832 – 600) = Rs 232

A man deposited Rs 6000 in a bank at 5% P.a simple interest another man deposits Rs 5000 at 8% P.a Compounded interest. After 2 years the difference of their interest will be_________? Read More »

Compound Interest, Mathematics Mcqs

A money lender borrows money at 4% P.a and pays interest at the end of the year. He lends it at 6% P.a compound interest compounded half-yearly and receives the interest at the end of the year. Thus be gains Rs 104.50 a year. The amount of money he borrows is_________?

Compound Interest, Mathematics Mcqs /
A money lender borrows money at 4% P.a and pays interest at the end of the year. He lends it at 6% P.a compound interest compounded half-yearly and receives the interest at the end of the year. Thus be gains Rs 104.50 a year. The amount of money he borrows is_________?

A. Rs 4500
B. Rs 5000
C. Rs 5500
D. Rs 6000
Explanation:
Let the money borrowed be Rs x
Interest paid by the money lender = Rs (x × 4/100 × 1) =Rs x/25
Interest received by the money lender
= Rs [x × (1 + 3/100)2 – x]
= Rs(x × 103/100 × 103/100 – x)
Gain = Rs (609x/1000 – x /25)
= Rs 209x/1000 = Rs 609x/10000
Therefore 209x/10000 = 104.50
=> 209x = 1045000
=> x = 5000
Hence money borrowed = Rs 5000

A money lender borrows money at 4% P.a and pays interest at the end of the year. He lends it at 6% P.a compound interest compounded half-yearly and receives the interest at the end of the year. Thus be gains Rs 104.50 a year. The amount of money he borrows is_________? Read More »

Compound Interest, Mathematics Mcqs

If the rate of interest be 4% per annum for first year 5% per annum for the second year and 6% per annum from the third year then the compound interest of Rs 10000 for 3 years will be_________?

Compound Interest, Mathematics Mcqs /
If the rate of interest be 4% per annum for first year 5% per annum for the second year and 6% per annum from the third year then the compound interest of Rs 10000 for 3 years will be_________?

A. Rs 1575.20
B. Rs 1600
C. Rs 1625.80
D. Rs 2000
Explanation:
Amount = Rs[10000 × (1 + 4/100) × (1 +5/100) × (1 × 6/100)]
= Rs(1000 × 26/25 × 21/20 × 53/50)
= Rs (57876/5) = Rs 11575.20
C.I = Rs (11575.20 – 10000) = Rs 1575.20

If the rate of interest be 4% per annum for first year 5% per annum for the second year and 6% per annum from the third year then the compound interest of Rs 10000 for 3 years will be_________? Read More »

Compound Interest, Mathematics Mcqs

A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?

Compound Interest, Mathematics Mcqs /
A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?

A. 7 years
B. 10 years
C. 15 years
D. 20 years
Explanation:
Let principal be Rs x and the rate is R % p.a.
Then X × (1 + R/100)5 = 2x
=> (1 + R/100)5 = 2
Let x × (1 + R/100)t = 8x
=> (1 + R/100)t = 8 = 23
={(1 + R/100)5 }3
=> (1 + R/100)t = (1 + R/100)15
=> T = 15 Years

A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest? Read More »

Compound Interest, Mathematics Mcqs

The difference between compound interest and simple interest on a sum for 2 years at 8% P.a is Rs 786. The sum is:_________?

Compound Interest, Mathematics Mcqs /
The difference between compound interest and simple interest on a sum for 2 years at 8% P.a is Rs 786. The sum is:_________?

A. Rs 100000
B. Rs 11000
C. Rs 120000
D. Rs 170000
Explanation:
Let the sum be Rs x.
Then S. I = Rs (x × 8/100 × 2) = Rs 4x/25
C. I = Rs [x × (1 + 8/100)2 – x]
= Rs (x × 27/25 × 27/25 – x)
=Rs 104x/625 (C.I) – (S.I)
= Rs(104x/625 – 4x /25)
= Rs 4x /625
Therefore 4x/625 = 768
=> x = ((768 ×625)/4) = 120000
Therefore sum = Rs 120000

The difference between compound interest and simple interest on a sum for 2 years at 8% P.a is Rs 786. The sum is:_________? Read More »

Compound Interest, Mathematics Mcqs

If the interest is payable annually than the principal on which the compound interest for 3 years at 10% P.a is Rs 33/- is given by:__________?

Compound Interest, Mathematics Mcqs /
If the interest is payable annually than the principal on which the compound interest for 3 years at 10% P.a is Rs 33/- is given by:__________?

A. Rs 900
B. Rs 1000
C. Rs 1050
D. Rs 1100
Explanation:
Let the principal be Rs x.
Then X × (1 + 10/100)3 – x = 331
=> (x × 11/10 × 11/10 × 11/10 – x) = 331
=> ((1331x-1000x)/1000) = 331
=> 331x = 331000
=> X = 1000
Hence the principal is Rs 1000

If the interest is payable annually than the principal on which the compound interest for 3 years at 10% P.a is Rs 33/- is given by:__________? Read More »

Compound Interest, Mathematics Mcqs

The Compound interest on Rs 16000 for 9 months at 20% P.a compounded quarterly is:__________?

Compound Interest, Mathematics Mcqs /
The Compound interest on Rs 16000 for 9 months at 20% P.a compounded quarterly is:__________?

A. Rs 2518
B. Rs 2520
C. Rs 2522
D. Rs 2524
Explanation:
P = Rs 16000, R = (10/2)%
per quarter, t = 3 quarters
C.I = Rs [16000 × (1+ 5/100)3-16000)
= Rs [16000 × 21/20 ×21/20× 21/20- 16000)
=Rs (18522-16000)=Rs 2522

The Compound interest on Rs 16000 for 9 months at 20% P.a compounded quarterly is:__________? Read More »

Compound Interest, Mathematics Mcqs

How much would a sum of Rs 16000 approximately amount to in 2 years at 10% P.a compounded half-yearly?

Compound Interest, Mathematics Mcqs /
How much would a sum of Rs 16000 approximately amount to in 2 years at 10% P.a compounded half-yearly?

A. Rs 17423
B. Rs 18973
C. Rs 19448
D. Rs 19880
Explanation:
P = Rs 16000, R = (10/2)%
Per half-year , t= 4 half-years
Therefore Amount = Rs [16000 × (1+5/100)4]
= Rs (16000 × 21/20 × 21/20 × 21/20 × 21/20)
= Rs 1448.10 ~ Rs 19448

How much would a sum of Rs 16000 approximately amount to in 2 years at 10% P.a compounded half-yearly? Read More »

Compound Interest, Mathematics Mcqs