Test: SI & CI- 3 - SSC CGL MCQ

An amount of Rs. 12820 due 3 years hence, is fully repaid in three annual instalments starting after 1 year. The first instalment is 1/2 the second instalment and the second instalment is 2/3 of the third instalment. If the rate of interest is 10% per annum, find the first instalment.

Michael Bolton has $90,000 with him. He purchases a car, a laptop and a flat for $15,000, $13,000 and $35,000 respectively and puts the remaining money in a bank deposit that pays compound interest @15% per annum. After 2 years, he sells off the three items at 80% of their original price and also withdraws his entire money from the bank by closing the account. What is the total change in his asset?

Read the following and answer the questions that follow. 4. A certain sum of money was lent under the following repayment scheme based on Simple Interest: 8% per annum for the initial 2 years 9.5% per annum for the next 4 years 11% per annum for the next 2 years 12% per annum after the first 8 years Find the amount which a sum of Rs. 9000 taken for 12 years becomes at the end of 12 years.

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.

Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.

 Rs. 1694 is repaid after two years at compound interest. Which of the following is the value of the principal and the rate?

What is the difference between compound interest and simple interest for the sum of Rs. 20,000 over a 2 year period if the compound interest is calculated at 20% and simple interest is calculated at 23%?

A sum was invested at simple interest at a certain interest for 2 years. It would have fetched Rs. 60 more had it been invested at 2% higher rate. What was the sum?

In what time will the simple interest on Rs. 1750 at 9% per annum be the same as that on Rs. 2500 at 10.5% per annum in 4 years?

What annual payment will discharge a debt of Rs. 808 due in 2 years at 2% per annum?

If the compound interest on a certain sum for 2 years is Rs. 21. What could be the simple interest?

If the difference between compound and simple interest on a certain sum of money for 3 years at 2% p.a. is Rs. 604, what is the sum?