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Q:

What is the compound interest earned at the end of 3 years?

I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500.

II.The rate of interest is 10 p.c.p.a.

III.Compound interest for 3 years is more than the simple interest for that period by Rs.465.

A) I and II only B) II and III only
C) I and III only D) Either II or III only

Answer:   D) Either II or III only



Explanation:

 

 

 

 

 

 

I. gives, S.I for 3 years = Rs. 4500.

 

 

 

II. gives, Rate = 10% p.a.

 

 

 

III. gives, (C.I.) - (S.I.) = Rs. 465.

 

 

 

Clearly, using I and III we get C.I. = Rs. (465 + 4500).

 

 

 

Thus, II is redundant.

 

 

 

Also, from I and II, we get sum =

 

 

 

100 x 4500

 

 

 

= 15000.

 

 

 

10 x 3

 

 

 

Now C.I. on Rs. 15000 at 10% p.a. for 3 years may be obtained.

 

 

 

Thus, III is redundant.

 

 

 

Either II or III is redundant.

Subject: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO
Related Questions
Q:

If a sum of money at simple interest doubles in 6 years, it will become  4 times in

A) 15years B) 16years
C) 17years D) 18years
 
Answer & Explanation Answer: D) 18years

Explanation:

 

 

 

 

 

 

let sum =x . s.i.=x

 

 

 

rate =(100*x)/(x*6)=50/3%

 

 

 

now ,sum =x, s.i= 3x, rate =50/3%

 

 

 

time =(100*3x)/(x*50/3) = 18 years

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Filed Under: Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
Job Role: Bank PO

11 12889
Q:

Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years?

I. The rate of interest is 5 p.c.p.a.

II. Simple interest fetched on the same amount in one year is Rs. 600.

III. The amount borrowed is 10 times the simple interest in 2 years.

A) I only B) III only
C) I or II only D) .II and Either I or III only
 
Answer & Explanation Answer: D) .II and Either I or III only

Explanation:

 

 

I. gives, Rate = 5% p.a.

 

II. gives, S.I. for 1 year = Rs. 600.

 

III. gives, sum = 10 x (S.I. for 2 years).

 

Now I, and II give the sum.

 

For this sum, C.I. and hence amount can be obtained.

 

Thus, III is redundant.

 

Again, II gives S.I. for 2 years = Rs. (600 x 2) = Rs. 1200.

 

Now, from III, Sum = Rs. (10 x 1200) = Rs . 12000.

 

Thus, Rate =

 

100 x 1200

 

= 5% p.a.

 

2 x 12000

 

Thus, C.I. for 2 years and therefore, amount can be obtained.

 

Thus, I is redundant.

 

Hence, I or III redundant.

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0 3164
Q:

What will be the compound interest earned on an amount of Rs. 5000 in 2 years?

I. The simple interest on the same amount at the same rate of interest in 5 years is Rs.2000.

II. The compound interest and the simple interest earned in one year is the same.

III. The amount becomed more than double on compound interest in 10 years.

A) I only B) .I and II only
C) II and III only D) I and III only
 
Answer & Explanation Answer:

Explanation:
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