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Quantitative Reasoning Simple Compound Interest Test Online Mcqs

Test Name Quantitative Reasoning Simple Compound Interest Test
Subject Aptitude
Test Type MCQS
Total Question 23
Total Marks 46
Total Time 23
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Quantitative Reasoning Simple Compound Interest Test Online Mcqs

Aptitude

1. Two equal sums of money were invested,one at 4% and the other at 4 1/2.At the end of 7 years,the simple interest received from the latter exceeded that received from the former by ζ 31.50.Each sum was

Question 1 of 15

2. How much interest will ζ 10,000 earn in 9 months at an annual rate of 6 percent?

Question 2 of 15

3. A man invests  ζ 5000 for 3 years at 5% p.a.compound interest reckoned yearly.Income tax at the rate of 20% on the interest earned is deducted at the end of each year.Find the amount at the end of the third year?

Question 3 of 15

4. A machine being used by a company is estimated to have a life of 15 years.At that time,the new machine would cost ζ 74,000 and the scrap of the old machine would yield  ζ 4,600 only.A sinking fund is created for replacing the machine at the end of its life.What sum should be invested by the company at the end of each year to accumulate at 6% per annum? *Use log 1.06=0.0253, antilog 0.3795=2.396)

Question 4 of 15

5. A finance company declares that,at a certain compound interest rate,a sum of money deposited by anyone will become 8 times in three years.If the same amount is deposited at the same compound rate of interest,then in how many years will it become 16 times?

Question 5 of 15

6. A sum of money lent out at simple interest amounts to ζ 720 after 2 years and to ζ 1,020 after a further period of 5 years.The sum and the rate % are ?

Question 6 of 15

7. A computer is available for ζ 39,000 cash or ζ 17,000 as cash down payment followed by five monthly installments of ζ 4,800 each.What is the rate of interest under the installment plan?

Question 7 of 15

8. The population of a city increases at a rate of 4% per annum.There is an additional annual increase of 1% in the population due to the influx of job seekers.The % increase in the population after 2 years is therefore?

Question 8 of 15

9. A man received  ζ 12000 as Puja Bonus.He invested a part of it at 5% per annum and the remaining at 6% per annum, simple interest being allowed in each case. The total interest earned by him in 4 years is  ζ 2580.The sum invested at 5% per annum is?

Question 9 of 15

10. Two equal sums of money are lent at the same time at 8% and 7% peer annum simple interest.The former is recovered 6 months earlier than the latter and the amount in each is ζ 2,560.The sum and the time for which the sums of money are lent out are?

Question 10 of 15

11. Ram takes a loan of ζ 10,000 and pays back ζ 13,000 after 3 years.The compound interest rate per annum will be approximately

Question 11 of 15

12. What will ζ 1000 be worth after three years if it earns interest at the rate of 5% compounded annually?

Question 12 of 15

13. Subash purchased a refrigerator on the terms that he is required to pay ζ 1,500 cash down payment followed by  ζ 1020 at the end of first year, ζ 1,003 at the end of second year and  ζ 990 at the end of third year.Interest is charged at the rate of 10% per annum. Calculate the cash price.

Question 13 of 15

14. Ajitha borrowed ζ 240 interest free from her parents to pay for her college education.If she pays back 2 1/2 percent of this amount quarterly,and has already paid ζ 42,00,then for how many months has she been paying back her loan?

Question 14 of 15

15. Under the Rural Housing Scheme,the Delhi Development Authority (DDA) allotted a house to Kamal Raj for ζ 1,26,100.This payment is to be made in three equal annual installments.If the money is reckoned at 5% per annum compound interest,how much is to be paid by Kamal Raj in each installment?

Question 15 of 15


 

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