Simple and Compund Interest Exercise I

Ques 1

A man invested Rs. X and Rs. 2X at 15% simple interest and at 8% compound interest (compounding annually) for two years respectively. Difference between simple interest and compound interest received after two years is Rs.820. Find the value of X ?

  a) Rs.25000
  b) Rs.30600
  c) Rs.28600
  d) Rs.22200

a) is the correct option

Ques 2

If a sum of money Rs. 200000 amounts to Rs. 266200 in 3 years at compound interest. Find the rate of interest ?

  a) 20
  b) 30
  c) 40
  d) 10

d) is the correct option

Ques 3

In how many years will a sum of money triple itself in 24% per annum?

  a) 6 years 9 mmonths
  b) 7 years 9 months
  c) 8 years 4 months
  d) 8 years 3 months

c) is the correct option

Ques 4

The simple interest on a sum of a money at 8% per annum for 6 years is half the sum is:

  a) Rs. 4800
  b) Rs. 6000
  c) Rs. 8000
  d) Data inadequate

d) is the correct option

Ques 5

A certain sum of money becomes three times of itself in 20 years at simple interest. In how many years does it become double of itself at the same rate of simple interest?

  a) 8 years
  b) 10 years
  c) 12 years
  d) 14 years

b) is the correct option

Ques 6

Find the difference between CI and SI for 2 years on a Sum of Rs. 4000 at the rate of 8% p.a.

  a) 25.6
  b) 24
  c) 27
  d) 32.4

a) is the correct option

Ques 7

A sum of Rs.12500 is invested on 1st January 2016 at 4% simple interest p.a. How much interest in RS. gets accrued on the end of the day on 1st July 2016?

  a) 240
  b) 230
  c) 220
  d) 250

d) is the correct option

Ques 8

The difference between the interest under compound interest, interest being compounded annually and simple interest, for two years, for the same sum and at the same rate of interest is 112.5. Find the sum if the rate of interest is 15%p.a

  a) 3500
  b) 5000
  c) 7500
  d) 10000

B) is the correct option