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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. 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 1 of 15

2. Seema invested an amount of ζ 16,000 for two years on compound interest and received an amount of ζ 17,640 on maturity.What is the rate of interest?

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. Sumit lent some money to Mohit at 5% per annum simple interest.Mohit lent the entire amount to Birju on the same day at 8 1/2% per annum.In this transaction,after a year Mohit earned a Rs 350.Find the sum of money lent by Sumit to Mohit.

Question 4 of 15

5. Sanjay borrowed a certain sum from Anil at a certain rate of simple interest for 2 years.He lent this sum to Ram at the same rate of interest compounded annually for the same period.At the end of two years,he received ζ 4200 as compound interest but paid  ζ  4000 only as simpe interest.Find the rate of interest?

Question 5 of 15

6. The different between simple interest and the compound interest compounded annually at the rate of 12% per annum on ζ 5000 for two years will be

Question 6 of 15

7. 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 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. 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 9 of 15

10. 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 10 of 15

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

Question 11 of 15

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

Question 12 of 15

13. The banker's discount and the true discount on a certain sum of money due 4 months hence are ζ 515 and ζ 500 respectively.The rate of interest is?

Question 13 of 15

14. A sum of money invested at compound interest amounts in 3 years to ζ 2,400 and in 4 years to ζ 2,520.The interest rate per annum is?

Question 14 of 15

15. 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 15 of 15


 

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