Test Level 3: Simple & Compound Interest - CAT MCQ
10 Questions MCQ Test Level-wise Tests for CAT - Test Level 3: Simple & Compound Interest
Mr. Khanna pays 10% pa interest on an amount borrowed and lends this amount at 12% pa. If at the end of the year, he earns Rs. 2.4 crore as simple interest in the transaction, then what is the sum transacted?
Amit invested two equal sums of Rs. 5000 for 2 years at 10%, one at compound interest payable yearly and the other at compound interest payable half-yearly. Find the difference between amounts that he will get at the end of 2 years.
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A certain sum of money lent at simple interest amounts to Rs. 1,300 in 4 years and Rs. 1,525 in 7 years. Find the sum.
A man borrows a certain sum at 20% compounded annually and lends it at 25% simple interest. What is the maximum number of years for which he can wait, so that he does not bear any loss?
Vivek purchased a bike costing Rs. 51,250 under finance with a down payment (which has to be paid at the beginning) of Rs. 9,575. Next month onwards, he has to pay Rs. 1,300 every month up to 36 months to clear the remaining payment. What is the rate of interest under simple interest?
Raghav has to repay a loan of Rs. 12,820 in three annual instalments. The first instalment is to be half of the second and one-third of the third. If the compound interest is calculated annually at a rate of 10%, then find the value of the third instalment that Raghav has to pay.
For a loan of Rs. 32,400 that I gave to my friend Anil, he promised to pay me the amount in monthly installments, starting with a certain amount and increasing the installments every month with a fixed amount of Rs. 100. In this way, he could clear off the loan in 24 months. How much was the first installment?
= Rs. 32,400A sum of Rs. 9400 is divided into three parts, such that the simple interests accrued on these sums for three, four and five years are equal. Find the amount deposited for five years.
If a person repaid Rs. 22,500 after 10 years of borrowing a loan, at 10% per annum simple interest find out what amount did he take as a loan?
Mr. X , a very industrious person, wants to establish his own unit. For this he needs an instant loan of Rs. 5,00,000 and, every five years he requires an additional loan of Rs.100,000. If he had to clear all his outstandings in 20 years, and he repays the principal of the first loan equally over the 20 years, find what amount he would have to pay as interest on his initial borrowing if the rate of interest is 10% p.a. Simple Interest.
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Important Questions for Test Level 3: Simple & Compound Interest
Test Level 3: Simple & Compound Interest MCQs with Answers
Online Tests for Test Level 3: Simple & Compound Interest Level-wise Tests for CAT
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