InterviewSolution
Saved Bookmarks
InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Srikanth borrowed a sum of Rs. 12000 from a finance company at the rate of 20% per annum under compound interest, compounded annually. Find the amount and C.I. for a period of 2 years. |
|
Answer» Principal P= Rs. 12000 Rate of interest R= 20% Time period n=2 years Amount, `A=P(1+(R )/(100))^(n)=12000(1+(20)/(100))^(2)=12000xx(6)/(5)xx(6)/(5)=Rs. 17280` `therefore` Compound interest, C.I. =A-P=Rs. 172800-Rs 12000= Rs. 5280 |
|
| 2. |
The value of an ornament decreases evey year at the rate of 5% over that of the previous year. If its value at the end of 2 years is Rs 9025, then what was its original value at the beginning of these two years?A. Rs 12,000B. Rs 11,000C. Rs 10,000D. Rs 13,000 |
| Answer» Correct Answer - C | |
| 3. |
The population of a city increases at the rate of 10% per annum. Find the population of the city in the year 2007 if its population in 2005 was 2 crores. |
|
Answer» Population in the year 2005, P=2 crores Rate of increase =10% Time period =2 years `therefore` Population in 2007 `=P(1+(R )/(100))^(n)=20000000(1+(10)/(100))^(2)` `=20000000xx1.21=24200000=2.42` crores. |
|
| 4. |
Suresh and Naresh borrowed Rs. 62500 and Rs. 60000 respectively for a period of 2 years. Suresh paid simple interest at the rate of 4% per annum, while Naresh paid compound interest at the same rate compounded annually. Who paid more interest and by how much ?A. Naresh paid more by Rs. 104B. Suresh paid more by Rs. 104C. Naresh paid more Rs. 94D. Both paid the same interest |
|
Answer» Correct Answer - B (i) Use formula for simple interest and compound interest. (ii) Find the interest paid by Suresh and Naresh and compare. |
|
| 5. |
The population of a village increases at a rate of 5% every year. If the present population of the village is 5620, find the population after 1 year.A. 5805B. 6121C. 5901D. 6000 |
|
Answer» Correct Answer - C Use the formula `A=P(1+(R )/(100))^(n)` and calculate A. |
|
| 6. |
A certain sum becomes 3 times itself in 4 years at compound interest. In how many years does it become 27 times itself ?A. 15 yearsB. 12 yearsC. 36 yearsD. 21 years |
|
Answer» Correct Answer - B (i) Use formula for amount. (ii) If `3P=P(1+(R )/(100))^(4)`, then find R. (iii) If `27P=P(1+(R )/(100))^(n)`, then find n. |
|
| 7. |
If Rs. 300 is the interest paid on a certain sum at the rate of 5% per annum simple interest for a period of 5 years, then find the sum. (in Rs. )A. 1200B. 1600C. 2000D. 1800 |
|
Answer» Correct Answer - A (i) C.I. =Rs. 300 (ii) S.I.=Rs. 300, R=5% per annum , T=5 years, find P. |
|
| 8. |
At what rate of simple interest per annum, does the interest on Rs. 1200 in 2 years equals the interest on Rs. 600 at 4 years at `(7)/(2)%` per annum ?A. `(3)/(4)%`B. `(7)/(2)%`C. `(4)/(3)%`D. `(7)/(8)%` |
|
Answer» Correct Answer - B Use formula for simple interest `(ii) (1200xx2xx r)/(100)=(600xx4xx7)/(2xx100)`, find r. |
|
| 9. |
Ravi borrowed Rs. 1000 from Sridhar at 3% C.I. for the first year, 5% C.I. for the second year. What amount does Sridhar get at the end of the second year ?A. Rs. 1081B. Rs. 1081.50C. Rs. 1082.50D. Rs. 1083 |
|
Answer» Correct Answer - B Use formula for amount at different rates. |
|
| 10. |
Saleem borrowed Rs. 20000 at compound interest and paid Rs. 22050 after 2 years to clear the debt. Find the rate of interest.A. 0.03B. 0.05C. 0.04D. 0.07 |
|
Answer» Correct Answer - B Use formula. |
|
| 11. |
A sum of money at simple interest amounts to Rs 800 in 2 years and to Rs 1200 in 6 years. The sum is……………A. Rs 600B. Rs 1000C. Rs 400D. Rs 500 |
|
Answer» Correct Answer - A i) Interest for 4 years. `=Rs (1200-800)=Rs 400`. ii) Interest for 2 years = Rs 200. iii) Sum =800-Interest for 2 years. |
|
| 12. |
A sum of money doubles itself in 3 years. At same rate of simple interest, for a period of 9 years, how many times will the sum become?A. 4B. 6C. 8D. 9 |
|
Answer» Correct Answer - A Assume that Rs P becomes Rs 2P in 3 years and proceed. |
|
| 13. |
Ram borrowed Rs. 8000 at `3(1)/(2)%` per annum compound interest for his family needs. How much amount does he have to pay to clear the debt at the end of one year and three months ?A. Rs. 8352.45B. Rs. 8532.45C. Rs. 8253.54D. Rs. 8352.54 |
|
Answer» Correct Answer - A (i) Use formula. (ii) `A=P(1+(R_(1))/(100))(1+(R_(2))/(100)),R_(2)=(3)/(12)xx(7)/(2)%` |
|
| 14. |
A sum of Rs 1500 amounts to Rs 1680 in 3 years at simple interest. If the interest rate is increased by 2%, it would amount to……………….A. Rs 1770B. Rs 1815C. Rs 1590D. Rs 1850 |
|
Answer» Correct Answer - A Find the interest for 1 years and the rate of interests. |
|
| 15. |
A sum of Rs 2500 is split into two parts, one part being lent at simple interest and the other part being lent at compound interest, interest being compounded annually. At the end of two years, the total amount of interest earned on the sum is Rs 201. Find the sum lent at simple interest, if both the part are lent at an interest rate of 4% per annum.A. Rs 1250B. Rs 1625C. Rs 1875D. Rs 1500 |
|
Answer» Correct Answer - C i) Let the sum lens at CI be `x` and the sum lent at SI be `(250-x)`. ii) `((2500-x)4 xx 2)/100+ x[(1+4/100)^(2)-1]=201` iii) Solve for `x`. |
|
| 16. |
A person borrowed Rs. 8000 at `2(1)/(2)%` per annum under S.I. The sum borrowed is immediately given to another person at the same rate on the condition that the interest is compounded semi-annually. Find the amount gained by the first person in one year.A. Rs. 3.25B. Rs. 2.25C. Rs. 1.25D. Rs. 0.25 |
|
Answer» Correct Answer - C (i) Amount gained =C.I.-S.I. (ii) Under C.I. rate of inerest for 6 months `=(1)/(2)xx(5)/(2)=(5)/(4)%` Take n=2. Find C.I. and S.I. |
|
| 17. |
A sum of Rs 4000 is split into two parts. One part is lent at simple interest and the other at compound interest, interest being compounded annually. At the end of two years, the total amount of interest earned is Rs 1720. Find the sum lent at simple interest, if each part is lent at 20% per annum (in Rs.)A. 120B. 1000C. 800D. 1500 |
|
Answer» Correct Answer - B i) Let Rs `x` be lent at simple interest and Rs `(4000-x)` at compound interest. ii) `(x xx 20 xx 2)/100 + (4000-x)[(1+20/100)^(2)-1]=1720`. Solve for `x`. |
|
| 18. |
The time period after which interest is added each time to form a new principal is called _____. |
|
Answer» Correct Answer - Conversion period N//A |
|
| 19. |
A borrowed a sum of Rs. 4000 from B at the rate of 10% per annum under simple interest. Immediately A gave this money to C at the same rate under compound interest compounded quarterly. Find the profit of A in doing so after 6 months. |
|
Answer» Principal, P=Rs. 4000 Rate of Interest, R=10% Time period =6 months `=(1)/(2)` year Amount paid by A after this period is `P[1=(TR)/(100)]=Rs. 4000 [1+(10)/(200)]=Rs. 4000xx(21)/(20)=Rs. 4200` Amount received by A after this period is `P[1+(R )/(100)]^(n)` `R==(10%)/(4)=2.5%` n=2 `(because " months " =2xx3` months) `implies P[1+(R )/(100)]^(n)=Rs. 4000(1+(2.5)/(100))^(2)=Rs. 4000xx((41)/(40))^(2)=Rs. 4202.50` `therefore` Profit of A= Rs. 4202.50-Rs. 4200=Rs. 2.50. |
|
| 20. |
Rs. 2000 was lent at 40% per annum at simple interest for 1 year. If interest on it was at compound interest and compounded quuarterly, then the amount obtained would be ___.A. 64.10 moreB. 64.10 lessC. 128.20 lessD. 128.20 more |
|
Answer» Correct Answer - D Amount (in Rs.)`=2000(1+(40)/(100))=2800` If interest was compounded quarterly, amount (in Rs. ) `=2000(1+((40)/(4))/(100))^(4)` (Rate of interest=10% per quarter. There are 4 quarters)=2928.20 `therefore` Amount realised would be Rs. 128.20 more. |
|
| 21. |
A person borrowed Rs. 100 at the rate of 10% per annum, compounded annually for 2 years. The amount he has to pay after 2 years is Rs. 121. |
|
Answer» Correct Answer - True N//A |
|
| 22. |
A borrowed a certain sum of money from B at the rate of 10% per annum under simple interest and lens one-fourth of the amount to C at 8% per annum under simple interest and the remaining amount to D at `15%` per annum under simple interest. If the end of 15 years. A made profit of Rs 5850 in the deal, then find the sum that A had lent to D.A. Rs 24,500B. Rs 12,000C. Rs 9000D. Rs 18,600 |
|
Answer» Correct Answer - C i) Let A borrowed Rs `x` from B. Therefore, the money lent to C is Rs `x/4` and the money lent to D is Rs `(3x)/4`. ii) `[x/4 xx (8xx15)/100+(3x xx 15 xx 15)/100]-(x xx 10 xx 15)/100=5850`. iii) Solve the above equation and find `x`, and then `3/2`. |
|
| 23. |
A person borrows Rs. 2000 at 20% per annum at C.I. compounded half yearly. Immediately he lends it to another person at the same rate on the condition that the interest is compounded for every `(1)/(4)` th year. Find the amount gained by the first person in `(1)/(2)` year. |
|
Answer» Correct Answer - Rs 5 N//A |
|
| 24. |
The value of an old bike decreases every year at the rate of 4% over that of the previour year. If its value at the end of three years is Rs 13824, then find its present value.A. Rs 15,625B. Rs 14,525C. Rs 16,625D. Rs 15,425 |
|
Answer» Correct Answer - A Let P be the original value. `P(1-4/100)^(3)=13,824` `rArr P(1-1/25)^(3)=13,824` `rArr P((25-1)/25) = 13,824` `rArr P((24 xx 24 xx 24)/(25 xx 25 xx 25))=13, 824`. `rArr P=25 xx 25 xx 25="Rs" 15,625`. |
|
| 25. |
P= Rs. 2000 and R= 3% per annum, find the amount in `(1)/(2)` a year approximately, interest compounded quarterly. |
|
Answer» Correct Answer - Rs. 2030 N//A |
|
| 26. |
A man borrowed Rs 10,000 at `12%` per annum, interest compounded quarterly. Find the amount that he has to pay after 9 months. |
|
Answer» P = Rs 10,000 R =12% per quarter R `=12/4%` per quarter Time period =9 months `therefore n=9/3=3` `A =10,000(1+3/100)^(3)` `=10,000 xx 103/100 xx 103/100 xx 103/100 = Rs 10,927.27` |
|
| 27. |
Find the amount on Rs 9900 at 20% per annum for 2 years at compound interest (compounded annually).A. Rs 12,946B. Rs 13,548C. Rs 14,256D. Rs 15,678 |
|
Answer» Correct Answer - C Amount after two years `=P(1+R/100)^(2)` `=9900(1+20/100)^(2)` `=9900(36/25) = 396 xx 36="Rs" 14,256` |
|
| 28. |
In how many years will a sum of Rs. 3200 compounded quarterly at the rate of 50% per annum amount to Rs. 4050 ?A. One yearB. Half yearC. Two yearD. 3 years |
|
Answer» Correct Answer - B Substitute the given values in the formula `A=P(1+(R )/(400))^(4n)` and find n. |
|
| 29. |
Given Rs. 5 becomes Rs. 25 at the rate of 8% per annum simple interest. Find the time period. (in years) |
|
Answer» Correct Answer - 50 N//A |
|
| 30. |
Find the amount on the sum of Rs 15,625 for 18 months under compound interest, compounded half yearly at the rate of 16% per annum.A. Rs 19,683B. Rs 19,625C. Rs 20,504D. Rs 19,625 |
|
Answer» Correct Answer - A `A = P(1+R/100)^(n)` `R=16/2=8%` `rArr A=15,625[(1+8/100)]^(3)` `rArr A=15,625(1+2/25)^(3)` `rArr A=15,625(27/25)^(3)` `rArr A=15,625(27 xx 27 xx 27)/(25 xx 25 xx 25)` `A="Rs" 19,683` |
|
| 31. |
In how many years will a sum of Rs 26,600, interest compounded quarterly, at the rate of `25%` per annum, amount to Rs 28,900?A. 1 yearB. `1/2` yearC. 2 yearsD. 4 years |
|
Answer» Correct Answer - B Use formula for amount and then use laws of indices. `28,900 = 25,600(1+25/400)^(n)`, n is the number of quarters. |
|
| 32. |
Determine the rate of inerest for a sum that becomes `(343)/(216)` times itself in 3 years interest compounded annually. |
|
Answer» Correct Answer - `16(2)/(3)%` per annum N//A |
|
| 33. |
Ravi lent Ramu a certain sum of money as the rate of `2(1/2)%` per annum, interest compounded annually. After two years, Rami paid a sum Rs 2560 to Ravi. What amount of money did Ramu borrow from Ravi?A. Rs 2036.64B. Rs 2236.64C. Rs 243.64D. Rs 2636.64 |
|
Answer» Correct Answer - C `A=P(1+R/100)^(N)` A=Rs 2560, `R=2(1/2)%,n=2` years, find P. |
|
| 34. |
A sum of money becomes four times itself in 5 years at a certain rate of interest, compounded annually. In how many years will it become 16 times itself at the same rate of interest?A. 20B. 16C. 12D. 10 |
| Answer» Correct Answer - D | |
| 35. |
A sum of money triples itself in 3 years at compound interest. In how many years will it become 9 times itself ?A. 4B. 9C. 6D. 7 |
|
Answer» Correct Answer - C (i) Use formula for amount and then use laws of indices, (ii) Let `3P=P(1+(R )/(100))^(3)` find R. (iii) Let `9P=P(1+(R )/(100))^(n)`, find n. |
|
| 36. |
A certain sum triples in 4 years at compound interest, interest being compounded annually. In how many years would it become 27 times itself ?A. 9B. 10C. 12D. 16 |
|
Answer» Correct Answer - C N//A |
|
| 37. |
A sum of money invested at compound interest triples itself in five years. In how many years will it become 27 times itself at the same rate of compound interest ? |
|
Answer» Correct Answer - 15 years N//A |
|
| 38. |
A certain sum was invested at a certain rate at simple interest. It took 8 years to quadruple the sum. Find the time it would take to become 10 times itself (in years).A. 18B. 24C. 36D. 30 |
|
Answer» Correct Answer - B Let the sum be Rs. P. It amounted to Rs. 4P in 8 years. S.I. for 8 years = Rs. 3P. Let the rate of interest be R% per annum `3P=((P)(8)(R ))/(100)` `R=(75)/(2)` To become 10 times itself, S.I. must be Rs. 9P. Let the required time be t years. `9P=((P)(t)((75)/(2)))/(100)implies t=24`. |
|
| 39. |
A certain sum lent for a period of `21/2` years under simple interest at `9%` per annum earned an interest of Rs 234. From the following options, find the sum that was lent.A. Rs 960B. Rs 1040C. Rs 1246D. Rs 1146 |
|
Answer» `("PTR")/100=1` `(P xx 5/2 xx 9)/(100)=234` `rArr (P xx 45)/(200)=234` `rArr P=(234 xx 200)/(45)` `therefore P =Rs 1040` |
|
| 40. |
The simple interest and compound interest on a certain sum for 2 years are Rs. 800 and Rs. 880 respectively. The rate of interests (in % per annum ) on both the sums is the same. If the interest on the sum lent at compound interest is compounded annually, find the rate of interest ( in % per annum). |
|
Answer» Correct Answer - 20 N//A |
|
| 41. |
A sum of Rs 62,000 is divided into three parts such that the corresponding interests earned for 3 years, 5 years and 6 years are equal. If the rates of simple interest are 5% per annum, 4% per annum and 3% per annum, then what is the greatest of the sum that were lens?A. Rs 18,000B. Rs 22,000C. Rs 24,000D. Rs 26,000 |
|
Answer» Correct Answer - C i) Let the sums lent be Rs `x`, Rs y and Rs 22,000-`(x+y)`. ii) `(x xx 3 xx 5)/100 = (y xx 5 xx 4)/100 = (([(22,000-(x+y))]6xx3)/100)`. iii) Solve the above equation and find the least of the sums. |
|
| 42. |
A person borrowed two equal sums for two years at the rate of `10%` per annum, from two persons. He borrowed the first sum at simple interest and the second sum at compound interest, compounded annually. The difference between the amount paid by him is Rs.15. Find each equal sum.A. Rs 1300B. Rs 2000C. Rs 1500D. Rs 2500 |
| Answer» Correct Answer - C | |
| 43. |
A certain sum amounts to Rs 13,310 after 3 years and to rs 16,105.10 after 5 years under compound interest. Find the sum borrowed, if the interest is compounded annually. In (Rs.)A. 12000B. 8000C. 10000D. 16000 |
| Answer» Correct Answer - C | |
| 44. |
Sreedher borrowed Rs 3500 at 6% per annum for 3 years under simple interest. But, after one year he was asked to pay compound interest for the remaining two years on the sum borrowed initially. How much additional interest Sreedhar has to pay?A. Rs 10B. Rs 14.50C. Rs 12.60D. Rs 1200 |
|
Answer» Correct Answer - C i)Find the SI for 1 year and CI for the last two years. ii) Find SI and CI as per the given data. iii) Find the difference between CI and SI. |
|
| 45. |
Find the rate of simple interest per annum, if a sum borrowed becomes double in 5 years. |
|
Answer» Let R% be the rate of interest per annum. Given that, Amount (A)`=2 xx` Principal (P) `therefore P(1+(TR)/(100))=2P` `implies 1+(5xxR)/(100)=2 implies R=20` Hence, rate of interest =20% per annum. |
|
| 46. |
If P=Rs. 5550 and R=12% per annum simple interest. In what time will it amount to Rs. 6882 ? |
|
Answer» Correct Answer - 2 years N//A |
|
| 47. |
What time will it take for a sum to amount to three times itself at 12% per annum under simple interest ? |
|
Answer» Let T years be the required time period. Given that, Amount `(A)=3 xx ` Principal (P) `therefore P(1+(TR)/(100))=3P` `implies 1+(12T)/(100)=3 implies T=(200)/(12)=16(2)/(3)` years Hence, required time period`=16(2)/(3)` years. |
|
| 48. |
Find the difference between the simple interest and the compound interest on Rs. 15000 at 12% per annum for 2 years (in Rs. ).A. 216B. 240C. 180D. 192 |
|
Answer» Correct Answer - A Required difference (in Rs.)=`15000((12)/(100))^(2)=15000((144)/(10000))=216` |
|
| 49. |
Find the compound interest on Rs 40,000 at 12% per annum for a period of 2 years. (in Rs).A. 10176B. 8000C. 9176D. 10000 |
|
Answer» Correct Answer - A P =Rs 40,000, `R=12%, n=2` `CI=P[(1+R/100)^(n)-1]` `=P[(1+12/100)^(2)-1]` `=40,000[(28/25)^(2)-1]` `=40,000[(28^(2)-25^(2))/(25^(2))]` `=40,000((28+25)*28-25)/(25 xx 25)` `=64 xx 53 xx 3 ="Rs" 10,176` |
|
| 50. |
The cost of a television is Rs15625. Its value depreciates at the rate of 8% per annum. Calculate the total depreciation in its value at the end of 3 years.A. Rs 3458B. Rs 3748C. Rs 3548D. Rs 3845 |
|
Answer» Correct Answer - A Use depreciation concept or let `A=P(1-r/100)^(n)`, when n=3. |
|