MCQ - Simple and Compound Interest - 1 (Answers) | Quantitative Aptitude for CA Foundation PDF Download

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A n s w e r o f Q u e s t i o n s R e a t e d t o S i m p l e I n t e r e s t
Q.1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs.
854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
Answer: Option C
Explanation:
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 x 3) = Rs. 1 17.
Principal = Rs. (815 - 1 17) = Rs. 698.
Q.2. Mr . Thomas invested an amount of Rs. 13,900 divided in two different
schemes A and B at the simple interest rate of 14% p.a. and 1 1% p.a. respectively .
If the total amount of simple interest earned in 2 years be Rs. 3508, what was the
amount invested in Scheme B?
E. Rs. 6400
F . Rs. 6500
G. Rs. 7200
H. Rs. 7500
None of these
Answer: Option A
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).
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A n s w e r o f Q u e s t i o n s R e a t e d t o S i m p l e I n t e r e s t
Q.1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs.
854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
Answer: Option C
Explanation:
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 x 3) = Rs. 1 17.
Principal = Rs. (815 - 1 17) = Rs. 698.
Q.2. Mr . Thomas invested an amount of Rs. 13,900 divided in two different
schemes A and B at the simple interest rate of 14% p.a. and 1 1% p.a. respectively .
If the total amount of simple interest earned in 2 years be Rs. 3508, what was the
amount invested in Scheme B?
E. Rs. 6400
F . Rs. 6500
G. Rs. 7200
H. Rs. 7500
None of these
Answer: Option A
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).
Then,
= 3508
28 x - 22 x = 350800 - (13900 x 22)
6 x = 45000
x = 7500.
So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.
Q.3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in
5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
None of these
Answer: Option D
Explanation:
Principal =
=
= Rs. 8925
Q.4. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest
at 4.5% per annum of simple interest?
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A n s w e r o f Q u e s t i o n s R e a t e d t o S i m p l e I n t e r e s t
Q.1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs.
854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
Answer: Option C
Explanation:
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 x 3) = Rs. 1 17.
Principal = Rs. (815 - 1 17) = Rs. 698.
Q.2. Mr . Thomas invested an amount of Rs. 13,900 divided in two different
schemes A and B at the simple interest rate of 14% p.a. and 1 1% p.a. respectively .
If the total amount of simple interest earned in 2 years be Rs. 3508, what was the
amount invested in Scheme B?
E. Rs. 6400
F . Rs. 6500
G. Rs. 7200
H. Rs. 7500
None of these
Answer: Option A
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).
Then,
= 3508
28 x - 22 x = 350800 - (13900 x 22)
6 x = 45000
x = 7500.
So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.
Q.3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in
5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
None of these
Answer: Option D
Explanation:
Principal =
=
= Rs. 8925
Q.4. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest
at 4.5% per annum of simple interest?
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years
Answer: Option B
Explanation:
T ime =
= 4 Y ears
Q.5. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of
interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate
of interest?
A. 3.6
B. 6
C. 18
D. Cannot be determined
E. None of these
Answer: Option B
Explanation:
Let rate = R% and time = R years.
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A n s w e r o f Q u e s t i o n s R e a t e d t o S i m p l e I n t e r e s t
Q.1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs.
854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
Answer: Option C
Explanation:
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 x 3) = Rs. 1 17.
Principal = Rs. (815 - 1 17) = Rs. 698.
Q.2. Mr . Thomas invested an amount of Rs. 13,900 divided in two different
schemes A and B at the simple interest rate of 14% p.a. and 1 1% p.a. respectively .
If the total amount of simple interest earned in 2 years be Rs. 3508, what was the
amount invested in Scheme B?
E. Rs. 6400
F . Rs. 6500
G. Rs. 7200
H. Rs. 7500
None of these
Answer: Option A
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).
Then,
= 3508
28 x - 22 x = 350800 - (13900 x 22)
6 x = 45000
x = 7500.
So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.
Q.3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in
5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
None of these
Answer: Option D
Explanation:
Principal =
=
= Rs. 8925
Q.4. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest
at 4.5% per annum of simple interest?
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years
Answer: Option B
Explanation:
T ime =
= 4 Y ears
Q.5. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of
interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate
of interest?
A. 3.6
B. 6
C. 18
D. Cannot be determined
E. None of these
Answer: Option B
Explanation:
Let rate = R% and time = R years.
Q.6. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple
interest. What is the rate of interest?
A. 3%
B. 4%
C. 5%
D. 6%
E. None of these
Answer: Option D
Explanation:
S.I. = Rs. (15500 - 12500) = Rs. 3000.
Q.7. An automobile financier claims to be lending money at simple interest, but
he includes the interest every six months for calculating the principal. If he is
charging an interest of 10%, the effective rate of interest becomes:
A. 10%
B. 10.25%
C. 10.5%
D. None of these
Answer: Option B
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A n s w e r o f Q u e s t i o n s R e a t e d t o S i m p l e I n t e r e s t
Q.1. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs.
854 in 4 years. The sum is:
A. Rs. 650
B. Rs. 690
C. Rs. 698
D. Rs. 700
Answer: Option C
Explanation:
S.I. for 1 year = Rs. (854 - 815) = Rs. 39.
S.I. for 3 years = Rs.(39 x 3) = Rs. 1 17.
Principal = Rs. (815 - 1 17) = Rs. 698.
Q.2. Mr . Thomas invested an amount of Rs. 13,900 divided in two different
schemes A and B at the simple interest rate of 14% p.a. and 1 1% p.a. respectively .
If the total amount of simple interest earned in 2 years be Rs. 3508, what was the
amount invested in Scheme B?
E. Rs. 6400
F . Rs. 6500
G. Rs. 7200
H. Rs. 7500
None of these
Answer: Option A
Explanation:
Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).
Then,
= 3508
28 x - 22 x = 350800 - (13900 x 22)
6 x = 45000
x = 7500.
So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.
Q.3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in
5 years. What is the sum?
A. Rs. 4462.50
B. Rs. 8032.50
C. Rs. 8900
D. Rs. 8925
None of these
Answer: Option D
Explanation:
Principal =
=
= Rs. 8925
Q.4. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest
at 4.5% per annum of simple interest?
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years
Answer: Option B
Explanation:
T ime =
= 4 Y ears
Q.5. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of
interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate
of interest?
A. 3.6
B. 6
C. 18
D. Cannot be determined
E. None of these
Answer: Option B
Explanation:
Let rate = R% and time = R years.
Q.6. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple
interest. What is the rate of interest?
A. 3%
B. 4%
C. 5%
D. 6%
E. None of these
Answer: Option D
Explanation:
S.I. = Rs. (15500 - 12500) = Rs. 3000.
Q.7. An automobile financier claims to be lending money at simple interest, but
he includes the interest every six months for calculating the principal. If he is
charging an interest of 10%, the effective rate of interest becomes:
A. 10%
B. 10.25%
C. 10.5%
D. None of these
Answer: Option B
Explanation:
Let the sum be Rs. 100. Then,
Q.8. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple
interest at the same rate of interest and received Rs. 2200 in all from both of them
as interest. The rate of interest per annum is:
A. 5%
B. 7%
C.
D. 10%
Answer: Option D
Explanation:
Let the rate be R% p.a.