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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. 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 1 of 15

2. 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 2 of 15

3. 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 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. 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 5 of 15

6. 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 6 of 15

7. 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 7 of 15

8. 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 8 of 15

9. 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 9 of 15

10. 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 10 of 15

11. 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 11 of 15

12. 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 12 of 15

13. 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 13 of 15

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

Question 14 of 15

15. Ravi gave ζ 1200 on loan.Some amount he gave at 4% per annum simple interest and remaining at 5% per annum simple interest.After two years,he got ζ 110 as interest.Then the amounts given at 4% and 5% per annum simple interest are,respectively

Question 15 of 15


 

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