Simple and Compound Interest for IBPS Clerk Mains 2017

Dear Aspirants,

Simple and Compound Interest for IBPS Clerk Mains 2017
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Simple and Compound Interest for IBPS Clerk Mains 2017

Quantitative Aptitude (Simple and Compound Interest) is a very important section you must prepare if you are aiming for a job in Bank or Insurance sector. So, these 15 questions can help you practice three very important topics of Quant Section.

Q1. Ravi borrowed some money at the rate of 4 p.c.p.a for the first three years, at the rate of 8 p.c.p.a for the next two years and at the rate of 9 p.c.p.a for the period beyond 5 years. If he pays a total simple interest of Rs 19550 at the end of 7 years, how much money did he borrow?
(a) Rs 39500
(b) Rs 42500
(c) Rs 41900
(d) Rs 43000
(e) Rs 45500

Q2. Mr. X invested an amount for 2 years at 15 percent per annum at simple interest. Had the interest been compounded anually, he would have earned Rs. 450/- more as interest. What was the amount invested? 
(a) Rs. 22,000
(b) Rs. 24,000
(c) Rs. 25000
(d) Rs. 25500
(e) Rs. 20000 

Q3. Two equal sums of money were invested-one at 4 1/2%  p.a. and the other at 4% p.a . At the end of 7 years, the simple interest received from the former was exceeded to that received from the latter by Rs 31.50. Each sum was 
(a) Rs 100
(b) Rs 500
(c) Rs 750
(d) Rs 900
(e) Rs 950

Q4. A certain amount is invested in scheme A for 6 years which offers simple interest at the rate of x% per annum. The same amount is invested in scheme B for 2 years which offers compound interest (compound annually) at the rate of 10% per annum. Interest earned from scheme A is twice to that of earned from scheme B. If the rate of interest of scheme A had been (x + 2)% per annum, the difference between the interest after corresponding periods would have been Rs 3960. What is the amount invested in each scheme?
(a) Rs 15,000
(b) Rs 12,000
(c) Rs 13,000
(d) Rs 12,500
(e) Rs. 13,500

Q5. A sum is divided between A and B in the ratio of 1 : 2. A purchased a car from his part, which depreciates at the rate of 100/7% per annum and B deposited his amount in a bank, which pays him 20% interest per annum compounded annually. By what percent will the total sum of money increase after two years due to this investment pattern (approximately)?
(a) 20.5%
(b) 26.66%
(c) 30%
(d) 25%
(e) 23%

Solutions (1-5):


 Q6. A person lent out two equal amounts at 6% and 24% per annum simple interest each for a period of 18 months. he got total interest of Rs 4704. Which of these could be the amount that was lent out in each case if interest is paid half-yearly?
(a) Rs 14053
(b) Rs 10453
(c) Rs 15450
(d) Rs 13543
(e) Rs 12272

Q7. A sum of Rs 18,750 is left in will by a father to be divided between two sons, whose present age is 12 and 14 years respectively, such that when they attain maturity at 18, the amount (Principal + interest) received by each at 5% S.I. will be the same. Find the sum allotted at present to each son.
(a) Rs 9500, Rs 9250
(b) Rs 8000, Rs 1750
(c) Rs 9000, Rs 9750
(d) Rs 8500, Rs 10250
(e) None of these

Q8. The difference between CI and SI on a certain sum of money at 10% per annum for 3 years is Rs 620. Find the principal if it is known that the interest is compounded annually.
(a) Rs 2,00,000
(b) Rs 20,000
(c) Rs 10, 000
(d) Rs 1,00, 000
(e) Rs 2,000

Q9. If the difference between compound interest and simple interest on a certain sum of money for 3 years at 10% p.a. (for both simple and compound interest) be Rs.1488 then find that sum in rupee.
(a) Rs. 48000
(b) Rs. 31250
(c) Rs. 35500
(d) Rs. 38550
(e) Rs. 35850

Q10. Find the compound interest at the rate of 10% for 3 years on that principal which in 3 years at the rate of 10% per annum gives Rs 300 as simple interest.
(a) Rs 331
(b) Rs 310
(c) Rs 330
(d) Rs 333
(e) Rs 341

Solutions (6-10):


Q11. Two customers borrowed the same amount of money, one at C.I. and the other at S.I. If after 2 years, the interest payable by one was Rs 220 and by the other Rs 200, then what was the principal money lent to each one of them?
(a) Rs 450
(b) Rs 500
(c) Rs 550
(d) Rs 650
(e) Rs 600

Q12. Uday has deposited certain amount in the bank to earn C.I. at 10% per annum. The difference of the interest on the amount between 3rd and 2nd years is Rs 1,100. What amount has Uday deposited?
(a) Rs 100000
(b) Rs 110000
(c) Data inadequate
(d) Rs 105000
(e) Rs 115000

Q13. The difference between CI and SI on a sum for 2 years at 10% per annum when the interest is compound annually is Rs 16. If the interest were compounded half yearly the difference in the interest will be
(a) Rs 24.81
(b) Rs 31.61
(c) Rs 32.40
(d) Rs 26.90
(e) Rs 28.41

Q14. The simple interest accrued on an amount of Rs. 14,800 at the end of three years is Rs. 6,216. What would be the compound interest accrued on the same amount at the same rate in the same period? 
(a) Rs. 6986.1142
(b) Rs. 7042.2014
(c) Rs. 7126.8512
(d) Rs. 8321.4166
(e) Rs. 7216.8515

Q15. Uday invested Rs 20,000 with rate of interest 20% per annum. The interest was compounded half yearly for first one year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?
(a) Rs 8800
(b) Rs 9040
(c) Rs 8040
(d) Rs 8200
(e) Rs 8400

Solutions (11-15):




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