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 4th 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,
