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Q:

Divide Rs. 1301 between A and B, so that the amount of A after 7 years is equal to the amount of B after 9 years, the interest being compounded at 4% per annum.

A) Rs.625 B) Rs.626
C) Rs.286 D) Rs.627
 
Answer & Explanation Answer: A) Rs.625

Explanation:

Let the two parts be Rs. x and Rs. (1301 - x).

 x1+41007=1301-x1+41009

 x1301-x=1+41002=2625*2526

 

=> 625x=676(1301-x) 

1301x=676 x 1301x=676.
So,the parts are rs.676 and rs.(1301-676)i.e rs.676 and rs.625

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Job Role: Bank PO

33 25615
Q:

The difference between the compound interest and the simple interest accrued on an amount of Rs. 18,000 in 2 years was Rs. 405. What was the rate of interest p.c.p.a. ?

A) 12% B) 13%
C) 14% D) 15%
 
Answer & Explanation Answer: D) 15%

Explanation:

Let the rate be R% p.a. Then,

 

18001+R1002-1800-1800*R*2100=405

1800100+R210000-1-2R100=405

 1800100+R2-10000-200R10000=405

95*R2=405 R2=405*59=225R=15 
Rate = 15%.

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22 26587
Q:

The difference between the compound interest and simple interest on a certain sum at 10% per annum for 2 years is Rs. 631. Find the sum.

A) 60100 B) 61100
C) 62100 D) 63100
 
Answer & Explanation Answer: D) 63100

Explanation:

Let the sum be Rs. x. Then,
C.I. = x ( 1 + ( 10 /100 ))^2 - x = 21x / 100 ,
S.I. = (( x * 10 * 2) / 100) = x / 5
(C.I) - (S.I) = ((21x / 100 ) - (x / 5 )) = x / 100
( x / 100 ) = 632 * x = 63100.
Hence, the sum is Rs.63,100.

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Exam Prep: Bank Exams
Job Role: Bank PO

27 24495
Q:

If the compound interest on a certain sum at 1623% to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.

A) 1080 B) 1090
C) 1180 D) 1109
 
Answer & Explanation Answer: A) 1080

Explanation:

Let the sum be Rs. x. Then,

 

 C.I=x*50300*1003-x=343x216-x=127x216 

 

127x216=1270 

 

x=2160 

 

Thus, the sum is Rs. 2160

 

 S.I=Rs.2160*503*3*1100=Rs 1080

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Job Role: Bank PO

15 22322
Q:

In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?

A) 1years B) 2years
C) 3years D) 4years
 
Answer & Explanation Answer: C) 3years

Explanation:

Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^n ] = 1331 or (11/10)^n = (1331/1000) = (11/10)^3
n = 3 years

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39 21947
Q:

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

A) 1261 B) 1271
C) 1281 D) 1291
 
Answer & Explanation Answer: A) 1261

Explanation:

Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.
.. C.I. = Rs. (9261 - 8000) = Rs. 1261.

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Exam Prep: Bank Exams
Job Role: Bank PO

89 41243
Q:

Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly

A) 2422 B) 2522
C) 2622 D) 2722
 
Answer & Explanation Answer: B) 2522

Explanation:

Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

 

 

 

CJ. = Rs. (18522 - 16000) = Rs. 2522

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Job Role: Bank PO

87 50966
Q:

Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly.

A) 524.32 B) 624.32
C) 724.32 D) 824.32
 
Answer & Explanation Answer: D) 824.32

Explanation:

Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years.
Amount == Rs. 10824.32.

 

 Rs.10000*1+21004=Rs.10000*5150*5150*5150*5150

 

 C.I. = Rs. (10824.32 - 10000) = Rs. 824.32.

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143 52528