Simple & Compound Interest Quiz | Aptitude Important MCQ #mcq_CetJob - Multiple choice questions and Objectives

# Simple & Compound Interest Quiz | Aptitude Important MCQ #mcq_CetJob

## Simple & Compound Interest Quiz | Aptitude Important MCQ

1 >>Q1. Find the simple interest on a principal of Rs.1000 at an interest rate of 6% per annum for a period of 6 years- ?

• (A) Rs. 300
• (B) Rs. 350
• (C) Rs. 360
• (D) Rs. 450
2 >>Q2. A sum of money becomes 8 times itself in two years under simple interest at certain rate. In how many years would the sum be 15 times itself? ?

• (A) 4
• (B) 3
• (C) 8
• (D) 10
3 >>Q3. A certain sum becomes 8 times itself in 3 years under compound interest, interest being compounded annually. How many years would the sum takes to become 64 times of itself? ?

• (A) 5
• (B) 6
• (C) 7
• (D) 8
4 >>Q4. A girl lent Rs.500 for 5 years at 5% per annum to a person and Z 300 more than the first sum to another girl at 6% for 5 years. Find his average yearly income- ?

• (A) Rs. 72
• (B) Rs. 82
• (C) Rs. 83
• (D) Rs. 73

5 >>Q5. At what rate per cent per annum will a sum of money doubles itself in 10 years? ?

• (A) 0.06
• (B) 0.1
• (C) 0.07
• (D) 0.09
6 >>Q6. If Rs.450 amounts to Rs.504 in 3 years at simple interest, what will Rs.650 amount in 2½ years, the rate being the same in both cases ? ?

• (A) Rs. 710
• (B) Rs. 810
• (C) Rs. 715
• (D) Rs. 915
7 >>Q7. If the interest on Rs.600 exceeds that on Rs. 450 by Rs. 12½ in 6 months, find the rate per cent per annum? ?

• (A) 0.1666
• (B) 0.16
• (C) 0.0366
• (D) 0.05
8 >>Q8. The compound interest on 2000 for two years is charged in the following manner: For the first year 10% per annum and for the second year at 5% per annum find it- ?

• (A) Rs.210
• (B) Rs.360
• (C) Rs.310
• (D) Rs.410
9 >>Q9. What is the difference of compound interest and simple interest of Rs.2500 for 2 years at 4% per annum? ?

• (A) Rs. 6
• (B) Rs. 16
• (C) Rs. 10
• (D) Rs. 4
10 >>Q10. A sum was put at Simple Interest (SI) at a certain rate for 3 years. Had it been put at 4% higher rate of interest, it would have fetched Rs.120 more. Find the sum. ?

• (A) Rs.1000
• (B) Rs. 1200
• (C) Rs. 1300
• (D) Rs. 1800

11 >>Q11. What is the effective annual rate of 4 per cent per annum compound interest paid quarterly? ?

• (A) 0.0506
• (B) 0.0406
• (C) 0.0303
• (D) 0.08
12 >>Q12. The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 880, and for the third year is Rs.968. What is the rate of interest? ?

• (A) 0.07
• (B) 0.06
• (C) 0.05
• (D) 0.1
13 >>Q13. The value of a car is Rs.1,00,000 at present. If the value depreciates 10% in the first year, 8% in the 2nd year and 5% in the 3rd year, what will be its depreciated value after 3 years? ?

• (A) Rs. 78,660
• (B) Rs. 88,800
• (C) Rs. 99,000
• (D) Rs. 110,110

14 >>Q14. What will be the compound interest on Rs.80,000 for 3 years if the rates for the 3 years are 4%, 5% and 10% respectively? ?

• (A) 15095
• (B) 16096
• (C) 17097
• (D) 18098
15 >>Q15. If the population of a town decreases 625% annually and the present population is 2,04,80,000, what will be the population after 3 years? ?

• (A) 1,65,000
• (B) 1,68,75,000
• (C) 1,75,75,000
• (D) 1,66,660
16 >>Q16. If at one rate of simple interest the principal doubles 10 years and at the other rate of simple interest the principal is trebled in 20 years. What is the better rate of interest? ?

• (A) 0.05
• (B) 0.1
• (C) 0.2
• (D) Both are equal
17 >>Q17. A sum of money doubles itself in 20 years at simple interest, then what is the rate of interest per annum? ?

• (A) 0.05
• (B) 0.06
• (C) 0.07
• (D) 0.08
18 >>Q18. A sum of money become 5 times in 25 years, then what is the rate of simple interest? ?

• (A) 0.06
• (B) 0.26
• (C) 0.16
• (D) l6.66 %
19 >>Q19. Sonkar deposits a sum of money in a Bank, who pay 20% simple interest. At the end of 5 years, he receives Rs.30,000, then what sum he had deposited in the Bank? ?

• (A) Rs.10,000
• (B) Rs.15,000
• (C) Rs.20,000
• (D) Rs. 16,000
20 >>Q20. Mallika lent a sum of money at the rate of simple interest 5%. If the interest for 10 years is Rs. 400 less than the principal, then what was the principal? ?

• (A) Rs. 800
• (B) Rs. 1000
• (C) Rs. 1050
• (D) Rs. 1100

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