All Courses
Get the App Signup / Login
Sign in Open App
Banking Exams Exam  >  Banking Exams Tests  >  Quantitative Aptitude for Competitive Examinations  >   Compound Interest - MCQ 4 - Banking Exams MCQ

Compound Interest - MCQ 4 - Banking Exams MCQ


Test Description

20 Questions MCQ Test Quantitative Aptitude for Competitive Examinations - Compound Interest - MCQ 4

Compound Interest - MCQ 4 for Banking Exams 2024 is part of Quantitative Aptitude for Competitive Examinations preparation. The Compound Interest - MCQ 4 questions and answers have been prepared according to the Banking Exams exam syllabus.The Compound Interest - MCQ 4 MCQs are made for Banking Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Compound Interest - MCQ 4 below.
Solutions of Compound Interest - MCQ 4 questions in English are available as part of our Quantitative Aptitude for Competitive Examinations for Banking Exams & Compound Interest - MCQ 4 solutions in Hindi for Quantitative Aptitude for Competitive Examinations course. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free. Attempt Compound Interest - MCQ 4 | 20 questions in 15 minutes | Mock test for Banking Exams preparation | Free important questions MCQ to study Quantitative Aptitude for Competitive Examinations for Banking Exams Exam | Download free PDF with solutions
Compound Interest - MCQ 4 - Question 1
Save

What is the difference between the CI and SI on Rs.6500 at the rate of 4 pcpa in 2 yrs ?

Detailed Solution for Compound Interest - MCQ 4 - Question 1

SI = 6500*4*2/100 = 520
CI = 6500*(104/100)*(104/100) = 7030.4 = 530.4
530.4 – 520 = 10.4

Compound Interest - MCQ 4 - Question 2
Save

The CI on a certain sum at 10% pa for 2yrs is Rs.6548. What is SI on the sum of money at 7%pa for 4 yrs(approx) ?

Detailed Solution for Compound Interest - MCQ 4 - Question 2

CI = p [{1 + (10/100)}2 – 1] 6548 = p [(110/100)2 – 1] 6548 =p (121 – 100)/100
P = 654800/21 =31,181
SI = 31181*7*4/100 = 8731

1 Crore+ students have signed up on EduRev. Have you? Download the App
Compound Interest - MCQ 4 - Question 3
Save

A sum of money amount to Rs.900 in 3 yrs and Rs.1080 in 4yrs at CI. What is the rate of CI pa ?

Detailed Solution for Compound Interest - MCQ 4 - Question 3

(1080-900/900)*100
180*100/900 = 20%

Compound Interest - MCQ 4 - Question 4
Save

Find the CI on Rs.4500 at 4% pa for 2 yrs compounded half yearly(approx) ?
Detailed Solution for Compound Interest - MCQ 4 - Question 4

CI = P [(1+(r/100) – 1] = 4500[(1+2/100)4 – 1
= 4500[(102*102*102*102/100*100*100*100) – 1] = 4500[1.082 – 1] = 4500*0.082 = 369

Compound Interest - MCQ 4 - Question 5
Save

In how many years will a sum of Rs.15625 at 8% pa compounded semi annually become Rs.17,576?
Detailed Solution for Compound Interest - MCQ 4 - Question 5

15625*(1+(4/100))2n = 17576
15625*(104/100)2n = 17576
(26/25)2n = 17576/15625 = (26/27)3
2n = 3 N =3/2 = 1(1/2) yrs

Compound Interest - MCQ 4 - Question 6
Save

If 40% increase in an amount in 4 years at SI. What will be the CI of Rs.10,000 after 2 yrs at the same rate ?
Detailed Solution for Compound Interest - MCQ 4 - Question 6

P = 100, SI = 40, T = 4
R = 100*40 / 100*4 = 10%pa
CI = 10,000(110/100)2 = 10000*11*11/100 = 12100
12100 – 10000 = 2100

Compound Interest - MCQ 4 - Question 7
Save

A sum of money is borrowed and paid in 2 annual instalments of Rs.642 each allowing 4% CI. The sum borrowed was
Detailed Solution for Compound Interest - MCQ 4 - Question 7

P = [642/(104/100)] + [642/(104/100) 2)
= 642*(25/26) + 642 (25/26)2
= 617.3 + 593.6 = 1210.9 = 1211

Compound Interest - MCQ 4 - Question 8
Save

The least number of complete years in which a sum of money put out at 10% CI will be more than doubled is
Detailed Solution for Compound Interest - MCQ 4 - Question 8

P(110/100)n > 2P
(11/10)n > 2P
1.1*1.1*1.1*1.1*1.1*1.1*1.1*1.1 = 2.14 > 2
N = 8

Compound Interest - MCQ 4 - Question 9
Save

A sum of money doubles itself at CI in 10yrs. In how many yrs will it become 4 times ?
Detailed Solution for Compound Interest - MCQ 4 - Question 9

P(1+(R/100))10 = 2P
1+(R/100)10 = 2
(1+(R/100))n = 4 = 22
2*10 = 20yrs

Compound Interest - MCQ 4 - Question 10
Save

At what rate of CI pa will a sum of Rs.1000 becomes Rs.1040.4 in 2yrs ?
Detailed Solution for Compound Interest - MCQ 4 - Question 10

1000*(1+(R/100))2 = 1040.4
(1+(R/100))2 = 1040.4/1000
(1+(R/100))2 = 10404/10000 = (102/100)2
R = 2%

Compound Interest - MCQ 4 - Question 11
Save

What annual payment will discharge a debt of 1025 due in 2 years at the rate of 5% compound interest?
Detailed Solution for Compound Interest - MCQ 4 - Question 11

Compound Interest - MCQ 4 - Question 12
Save

In what time will Rs. 64,000 amount to Rs.68921 at 5% per annum interest being compounded half yearly?
Detailed Solution for Compound Interest - MCQ 4 - Question 12

R = 2.5%, A = 68921 , P = 64000 and t= 2n
A/P = [1+(R/100)]2n
68921/64000 = [1+(2.5/100)]2n
(41/40)3 = (41/40)2n
2n = 3
n=3/2 =1(1/2) years

Compound Interest - MCQ 4 - Question 13
Save

If the difference between the CI and SI on a sum of money at 5% per annum for 2years is Rs.16.Find the Simple Interest ?
Detailed Solution for Compound Interest - MCQ 4 - Question 13

16 =P*(5/100)2
P = 6400
SI =(6400*5*2)/100 =640

Compound Interest - MCQ 4 - Question 14
Save

The difference between the SI and CI on Rs.5000 at 10%per annum for 2 year is
Detailed Solution for Compound Interest - MCQ 4 - Question 14

d = p (r/100)2
= 5000 (10/100)2
d = 50

Compound Interest - MCQ 4 - Question 15
Save

The difference SI and CI on Rs.1000 for 1 year at 10%per annum reckoned Half yearly is
Detailed Solution for Compound Interest - MCQ 4 - Question 15

SI = (1000/100 =100
CI = [1000(1+(5/100))2] – 1000 = 102.5
D = 102.5 – 100 = 2.5

Compound Interest - MCQ 4 - Question 16
Save

Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5984.What is the SI on the same money at 9% per annum for 6 years ?
Detailed Solution for Compound Interest - MCQ 4 - Question 16

5984 = p [(1+(20/100)2) -1] P = (5984*25)/11 = 13600
SI = (13600*9*6)/100 = 7344

Compound Interest - MCQ 4 - Question 17
Save

The difference between CI and SI on an amount Rs. 15000 for 2 year is Rs.96.What is the rate of interest per annum ?
Compound Interest - MCQ 4 - Question 18
Save

The effective annual rate of interest corresponding to the nominal rate of 4% per annum payable half yearly is
Detailed Solution for Compound Interest - MCQ 4 - Question 18

Let p = 100
CI = [100+(1+[2/100]2)] = 100 × (102/100)× (102/100)
= 104.04
Effective rate = 104.04 – 100 = 4.04%

Compound Interest - MCQ 4 - Question 19
Save

Rohit borrowed Rs. 1200 at 12% PA .He repaid Rs. 500 at the end of 1 year. What is the amount required to pay at the end of 2nd year to discharge his loan which was calculated in CI
Detailed Solution for Compound Interest - MCQ 4 - Question 19

CI at the end of 1st year = 1200 *(1+(12 /100)) = 1344
CI = 1344-1200 = 144
500 paid then remaining amount = 1344 – 500 = 844
At the end of 2nd year
844*[(1+(12/100)] =945.28

Compound Interest - MCQ 4 - Question 20
Save

A sum of money invested at CI to Rs.800 in 3 years and to Rs.840 in 4 years.Find rate of interest PA ?
Detailed Solution for Compound Interest - MCQ 4 - Question 20

CI for 3 yr = 800
CI for 4 yr = 840
CI for 1 yr = 40
R = (100 × 40)/(800×1) = 10/2 = 5%

37 videos|53 docs|148 tests
Join Course
Information about Compound Interest - MCQ 4 Page
In this test you can find the Exam questions for Compound Interest - MCQ 4 solved & explained in the simplest way possible. Besides giving Questions and answers for Compound Interest - MCQ 4, EduRev gives you an ample number of Online tests for practice

Top Courses for Banking Exams

Download as PDF

Top Courses for Banking Exams

Important Questions for Compound Interest - MCQ 4

Find all the important questions for Compound Interest - MCQ 4 at EduRev.Get fully prepared for Compound Interest - MCQ 4 with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Compound Interest - MCQ 4 syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Compound Interest - MCQ 4 resources.

Compound Interest - MCQ 4

Prepare for the Compound Interest - MCQ 4 within the Banking Exams exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Compound Interest - MCQ 4 Quantitative Aptitude for Competitive Examinations

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Compound Interest - MCQ 4 with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup