Today I am sharing some important questions of simple interest and compound interest Chapter of quantitative Aptitude which are previously asked in different Bank exams, These questions are very useful for IBPS PO & Clerk and SBI PO & Clerk exams.
Lets have a look on the Simple and Compound Interest Formulas.Simple Interest
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Compound Interest
Questions & Answers Tricks Shortcuts SI & CI
1. What will be the simple interest earned on an amount of 988/- at the rate of 18 % p.a , at the end of 5 years?
a) 711.36/-
b) 898.2/-
c) 799.25/-
d) 805.4/-
e) None of these
2. What amount a man would have received on a principal of 4,000/- after 2 years simple interest at the rate of 5 p.c.p.a.?
a) 4,161/-
b) 5,200/-
c) 4,400/-
d) 4,100/-
e) 4,190/-
3. Veena obtained an amount of 8,376/- as simple interest on a certain amount at the rate of 8 p.c.p.a. after 6 years. What is the amount invested by Veena?
a) 1,780/-
b) 18,110/-
c) 16,660/-
d) 17,450/-
e) None of these
4. The simple interest accrued on an amount of 2,500/- at the end of six years is 1,875/- What would be the simple interest accrued on an amount of 6,875/- at the same rate and same period?
a) 4,556.5/-
b) 5,025.25/-
c) 4,895.25/-
d) 5,245.5/-
e) None of these
5. Manish borrowed a sum of 1,150/- from Anil at the simple rate of 6 % p.a. for 3 years. He then added some more money to the borrowed sum and lent it to Sunil for the same time at 9 % p.a. at simple interest. If Manish gains Rs 274.95/- by way of interest on borrowed sum as well as his own amount from the whole transaction, then what is the sum lent by him to Sunil?
a) 1,290/-
b) 1,785/-
c) 1,285/-
d) 1,200/-
e) None of these
6. Suhit borrowed a sum of 6,300/- from Vikas at the rate of 14% for 3 years. He then added some more money to the borrowed sum and lent it to Mohit at the rate of 16% of simple interest for the same time. If Suhit gained 618/- in the whole transaction, then what sum did he lend to Mohit?
a) 7,000/-
b) 6,800/-
c) 7,200/-
d) Cannot be determined
e) None of these
7. Arun invested a sum of money at a certain rate of simple interest for a period of 4 years. Had he invested the same sum for a period of 6 years the total interest earned by him would have been 50 per cent more than the earlier interest amount. What was the rate of interest per cent per annum?
a) 4%
b) 8%
c) 5%
d) cannot be determined
e) None of these
8. Shamita took a loan at simple interest rate of 6 p.c.p.a. in the first year and it increased by 1.5 p.c.p.a. every year. If she pays 8,190/- as interest at the end of 3 years, what was her loan amount?
a) 36,000/-
b) 35,400/-
c) 36,800/-
d) Cannot be determined
e) None of these
9. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% lower rate, it would have fetched 300/- less. Find the sum.
a) 1,000/-
b) 2,000/-
c) 3,000/-
d) 5,000/-
e) None of these
10. What annual payment will discharge a debt of 54,000/- due in 5 years, the rate of interest, being 4% per annum?
a) 10,000/-
b) 11,000/-
c) 15,000/-
d) 20,000/-
e) None of these