Test Level 2: Simple & Compound Interest - 2 - CAT MCQ

Sachin borrowed Rs. 28,000 from Yuvraj at 12% simple interest. After 1 year, he paid the interest and Rs. 10,000 extra. After 6 months more, if Sachin wants to clear the debt, then how much money does he have to pay Yuvraj?

Ritesh deposited Rs. 8000 in State Bank of India. He had to pay 10% of the interest of the first year as his college fees, after which Rs. 900 of the interest amount was left. Find the rate percentage at which the interest was paid.

X invested a sum at compound interest payable half-yearly. If the compound interest in November 2003 was Rs. 225 and in May 2004, it was Rs. 236.25, find the annual rate of interest.

Divide Rs. 6000 into two parts so that the simple interest on the first part for 2 years at 6% p.a. may be equal to the simple interest on the second part for 3 years at 8% p.a. (in Rs.).

Amit invested two equal sums of Rs. 5,000 for 2 years at 10% C.I, one at C.I. payable yearly and the other at C.I. payable half yearly. Find the approximate difference in amounts that he will get at the end of 2 years.

Dhiraj invests a part of Rs. 8000 at 4% p.a. and the remainder at 5% per year. His annual income from the investments is Rs. 350. What amounts of money (in rupees) has he invested at each rate, respectively?

A sum was put on simple interest at a certain rate for 4 years. Had it been put at a 5% higher rate, it would have fetched Rs. 200 more. Find the sum.

At a certain rate of simple interest, Rs. 700 in 2 years amounts to Rs. 840. If the rate of interest is increased by 2%, what will be the amount after 3 years?

A man borrowed Rs. 12,000 at 5% simple interest, Rs. 15,000 at 8% simple interest and Rs. 20,000 at 12% simple interest. He lent all this money to another person at the rate of 10% compounded annually. How much money will the man gain after 2 years?

A money lender took a loan from bank at 22% simple interest and he lent all this money to another person at a rate of 5k% simple interest, where k depends on the principal P such that (k - 1) × 10⁴ ≤ P < k × 10⁴. What is the minimum amount of loan that he must take so that he does not incur any loss?

Shweta borrowed some money under simple interest. If she pays Rs. 10,000 at the end of 1 year and Rs. 18,200 at the end of second year, the debt will be cleared. Even if she pays Rs. 15,000 at the end of 1 year and Rs. 12,800 at the end of second year, then also the debt will be cleared. What is the rate of interest?

A man borrows a sum of money at simple interest at the rate of 5% per annum and lends it out at 4% per annum compound interest, payable yearly. Find his net gain or loss at the end of 2 years as a percentage of sum borrowed by him.

A lent B Rs. 900 for a certain time at a certain rate per annum which was equal to the square root of the number of months of time. After the time, B wanted to return the money, but A instead of taking the interest, which amounted to Rs. 48, asked for a certain sum of money at the same rate for a certain number of years which was equal to the square root of the rate. Find the sum of money so that neither of them ends up as a loser. (Take simple interest)

The simple interest on a certain sum at a certain rate is 9/16 of the sum. Find the rate of interest if its percentage value is equal to time in years.

A property decreased in value every year at the rate of on its value at the beginning of that year. If its value at the end of 3 years was Rs. 21,093.75, what was its worth at the beginning of these years?

A sum of money is invested at compound interest at a certain rate. If the simple interest at the same rate is calculated, then the simple interest for the first two years comes out to be Rs. 20 less than the compound interest for the same number of years, and that for the first three years, comes out be Rs. 61 less than the compound interest for the same number of years. Find the rate.

If the difference between the compound interest and simple interest on a certain sum of money is Rs. 72 at 12% annum for 2 years, find the amount.