We have started the 56 days Study Plan for IBPS PO Prelims. This study plan is to efficiently utilise time and hard work to channelise it towards smart work. From now quizzes on Bankersadda will be according to the given study plan and this will help you prepare important topics in limited time.

Today is DAY 41 of the study plan and in Quantitative Aptitude today’s chapter is Practice of 8-10 Chapters (Simple Interest and Compound Interest)

Q1. A sum is invested for 3 years at a certain rate of interest compounded annually. After 3 years the amount increases by 119.7%. What is the rate of interest?
(a) 20%
(b) 10%
(c) 15%
(d) 30%
(e) 40%

Q2. A sum of money doubles itself in 10 years at simple interest. In how many years would it become 5 times of itself?
(a) 30
(b) 45
(c) 40
(d) 50
(e) 65

Q3. A man buys land and pays 20 times its annual rent. What is the rate %?
(a) 6%
(b) 5%
(c) 10%
(d) 8%
(e) 7%

Q4. A father left a will of Rs. 68,000 to be divided between his two sons aged 10 years and 12 years such that they may get equal amount when each attains the age of 18 years. If the money is reckoned at 10% p.a. then find how much each gets at the time of the will.
(a) Rs. 30,000, Rs. 38,000
(b) Rs. 28,000, Rs. 40,000
(c) Rs. 32,000, Rs. 36,000
(d) Cannot be determined
(e) None of these

Q5. Find the minimum number of complete years such that, the interest on Rs. 106.25 at 3% per annum will be in-exact number of rupees?
(a) 8
(b) 16
(c) 9
(d) 12
(e) None of these

Q6. A milk man borrowed Rs. 3,500 from two money lenders. For one loan, he paid 5% p.a. and for the other, he paid 10% p.a. The total interest paid for two years was Rs. 500. How much did he borrow at 10% rate?
(a) Rs. 2000
(b) Rs. 1500
(c) Rs. 1650
(d) Rs. 1675
(e) None of these

Q7. A sum is invested for 4 years at a certain rate of interest compounded annually. After 4 years the amount increases by by 107.36%. What is the rate of interest?
(a) 20%
(b) 10%
(c) 15%
(d) 30%
(e) 40%

Q8. A person borrows Rs. 5000 for 99 years at 4% p.a. simple interest. He immediately lends it to another person at % p.a. for 99 years. Find his gain in the transaction per year.
(a) Rs. 112.50
(b) Rs. 125
(c) Rs. 150
(d) Rs. 167.50
(e) None of these

Q9. Two equal sums of money were invested, one at 4% and the other at 4.1%. At the end of 99 years, the simple interest received from the latter exceeded to that received from the former by Rs. 198. Each sum was:
(a) Rs. 1800
(b) Rs. 1600
(c) Rs. 1750
(d) Rs. 2000
(e) None of these

Q10. Ram borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 81600, how much money did he borrow?
(a) Rs. 80000
(b) Rs. 100000
(c) Rs. 120000
(e) None of these

Q11. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 1.350. The difference between their rates of interest is:
(a) 0.01%
(b) 0.02%
(c) 0.03%
(d) 0.3%
(e) None of these

Q12. Ram bought a Car for Rs. 481593 he will pay the amount in three annual installments in three years and the ratio of installments is 1:2:3, where the largest installment is at the end of third year. Also, he settled the complete amount at the end of 3rd year at the rate of 10% compound interest compounded annually then find the value of first installment.
(a) Rs. 100000
(b) Rs. 90000
(c) Rs. 110000
(d) Rs. 95000
(e) None of these

Q13. The difference between compound interest and simple interest on a sum for 2 years, when the interest is compounded annually is Rs. 4 and SI for 2 years is Rs. 40. Find rate?
(a) 15%
(b) 10%
(c) 25%
(d) 20%
(e) None of these

Q14. At what rate percent compound interest does a sum of money becomes Nine-fold in 2 years.
(a) 150%
(b) 100%
(c) 200%
(d) 400%
(e) None of these

Q15. Find the effective compound interest for 20% and 2 years, where compound interest is compounded semi-annually?
(a) 40%
(b) 41%
(c) 46.41%
(d) 44%
(e) None of these