QUANT QUIZ-11 BASED ON COMPOUND INTEREST

QUANT QUIZ-11 BASED ON

COMPOUND INTEREST

1. A certain rate per annum, the simple interest on a sum of money for one year is Rs 260 and the compound interest on the same sum for 2 yrs is Rs 540.80.Find rate

a. 4%                                   

b. 6%                                               

c. 8%                                   

d. 10%

2. A sum of Rs 10000 is borrowed at 8% p.a compounded annually which is paid back in 3 equal annual installments. What is the amount of each installment:

a. 3880.335                      

b.3550.534                                   

c. 3900.504                       

d. none of these

3. Avnish invests an amount of Rs. 15,860 in the names of her three daughters A, B and C in such a way that they get the same interest after 2,3 and 4 yrs respectively. If the rate of simple interest is 5% p. a, then the ratio of the amount invested among A,B and C will be:

a. 5:10:12                          

b.                                   

c. 6:7:8                          

d. 6:5:4

4. Mobile is available for Rs 2500 cash or Rs 520 cash down payments followed by 4 equal monthly installments. If the rate of interest charged is 25% per annum, calculate the monthly installment.

a. 520                                  

b. 480                                              

c. 550                                   

d. none of these

5. A simple interest accrued on a sum of certain principal is Rs 2000 in 5 yrs at the rate of 4 p.c.p.a .What would be the compound interest accured on same principal at same rate in 2 yrs:

a. Rs 716                            

b. Rs 724                            

c. Rs 824                

d. Rs 816

6. Ram deposits Rs 15600 in a fixed deposit at the rate of 10% per annum simple interest. After every second year, he adds his interest earnings to the principal. The interest at the end of 4^th year:

a. 1716                                

b. 1560                                           

c. 3432                                

d. 1872

7. The difference between Simple interest and Compound Interest compounded every 6 months at the rate of 10% per annum at the end of two years is Rs 124.05.What is the sum:

a. 10000                             

b. 8000                                           

c. 6000                                

d. none of these

8. ‘A’ borrowed a sum of money from ‘B’ at 8% Simple Interest for first 4 years; 10% for next 6 years and 12% for beyond 10 years. If he pays a total of Rs 12160 as interest only at the end of 15 years. How much money he borrow:

a. 12000                             

b. 9000                                           

c. 8000                                

d. none of these

9. A certain rate % per annum Simple Interest becomes Rs 2100 in 2 years and Rs 2250 in 5 years .Find principal and Rate:

a. 2000, 2.5                       

b. 1800, 5%                                  

c. 2000, 3%                      

d. none of these

10. What will be the difference in Simple interest and Compound interest at 10% on sum of Rs 1000 after 4 years:

a. 64.1                                 

b.60.2                                              

c.40.5                                   

d. none of these

ANSWERS:

1.C, 2.A, 3.B, 4.A, 5.D, 6.D, 7.B, 8.C, 9.A, 10.A,

For Full Explanation Of Each Question CLICK HERE