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IBPS Clerk CWE Exam Quantitative Aptitude Study Material

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Simple and compound interest

Find the difference between Simple and Compond interest for an amount Rs 1800 lended for 2 years at 10 % per annum . ( in rs)

a) 15
b) 150
c) 18
d) 20

✔Answer

✔Solution

Correct Answer Is : 18

Solution Is : Simple interest = PNR / 100 = 1800210 / 100 = Rs. 360 Compound interest = P ( 1 +r/100)n - P = 1800 ( 1 + 10/100)2 - 1800 = 1800 * 110 * 110 / 100*100 - 1800 = Rs 378 Required difference = 378 - 360 = Rs . 18

In how many years shall Rs 5000, invested at the rate of 4 % simple interest per annum , amount to Rs 6600 ?

a) 10
b) 8
c) 6
d) 8.5

✔Answer

✔Solution

Correct Answer Is : 8

Solution Is : P = 5000 R = 4 % A = 6600 SI = A - P = 6600 - 5000 SI = 1600 N = ? SI = PNR / 100 1600 = 5000xNx4/100 N = 1600 x 100 / 4x5000 N = 160000/20000 N = 16/2 = 8 yr

A sum is invested for 3 years at a certain rate of interest compounded annually. After 3 yeatrs the amount increases by 119.7 % . What is the rate of interest ?

a) 20
b) 10
c) 15
d) 30

✔Answer

✔Solution

Correct Answer Is : 30

Solution Is : Suppose initial amount be 1000 The amount increases by 119.7 % Hence , final amount = 1000 + 1197 = 2197 Rate of interest r% , then 1000(1 + r/100)3 = 2197 --> (1 + r/100)3 = (13/10 )3 r = 30 %

A sum of money doubles itself in 10 years at simple interest . In how many years would it become 5 times of itself ?

a) 30
b) 45
c) 40
d) 50

✔Answer

✔Solution

Correct Answer Is : 40

Solution Is : SI in first case = A - P = 2P - P = P SI = PxRxT / 100 P = P xR 10 / 100 r = 100P / 10 P = 10 % Similarly S.I in II case = 5P -P = 4P T = 4PX100 / PX10 = 40 years

A man buys land and pays 20 times its annual rent. What is the rate % ?

a) 6 %
b) 0.05
c) 0.1
d) 0.08

✔Answer

✔Solution

Correct Answer Is : 0.05

Solution Is : Annual rent can be treated as simple interest and price for which land is bought should be treated as principle amount hence SI = k and P = 20 k , SI = PNR / 100 k = 20kxRx1/100 R = 100 k / 20 k = 5 %

At what rate percent compound interest does a sum becomes nine-fold in 2 years ?

a) 150 %
b) 1
c) 2
d) 4

✔Answer

✔Solution

Correct Answer Is : 2

Solution Is : Let sum be Rs . P , then , 9P = P ( 1 + r/100) 2 1 + r/100 = 3 r = 200 %

The difference between the compound interest and simple interest on a certain sum for 2 yr at 6% per annum is Rs 27. The sum is

a) Rs 5000
b) Rs 550
c) Rs 7000
d) Rs 7500

✔Answer

✔Solution

Correct Answer Is : Rs 7500

Solution Is :

The compound interest on Rs 1800 at 10 % per annum , for a certain period od time is Rs 378 . Find the time in years

a) 1.5
b) 2.5
c) 2
d) 3

✔Answer

✔Solution

Correct Answer Is : 2

Solution Is :

In how many years shall Rs 2500, invested at the rate of 8 % simple interest per annum , amount to Rs 3300 ?

a) 5
b) 4
c) 6
d) 4 1/2

✔Answer

✔Solution

Correct Answer Is : 4

Solution Is : P = 2500
R = 8 %
A = 3300
SI = A - P = 3300 - 2500
SI = 800
N = ?
SI = PNR / 100
800 = 2500xNx8/100
N = 800 x 100 / 8x2500
N = 10000/2500
N = 100/25 = 4 yr

A person invests RS 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some pressing needs he has to withdraw the entire money after 3yr, for which the bank allowed him a lower rate of interest. If he gets Rs 3320 less than what he would have got at the end of 5yr, the rate of interest allowed by the bank is

a)
b)
c)
d)

✔Answer

✔Solution

Correct Answer Is :

Solution Is :

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IBPS Clerk CWE Exam Quantitative Aptitude Study Material

Simple and compound interest

Find the difference between Simple and Compond interest for an amount Rs 1800 lended for 2 years at 10 % per annum . ( in rs)

Correct Answer Is : 18

Solution Is : Simple interest = PNR / 100 = 1800*2*10 / 100 = Rs. 360 Compound interest = P ( 1 +r/100)n - P = 1800 ( 1 + 10/100)2 - 1800 = 1800 * 110 * 110 / 100*100 - 1800 = Rs 378 Required difference = 378 - 360 = Rs . 18

In how many years shall Rs 5000, invested at the rate of 4 % simple interest per annum , amount to Rs 6600 ?

Correct Answer Is : 8

Solution Is : P = 5000 R = 4 % A = 6600 SI = A - P = 6600 - 5000 SI = 1600 N = ? SI = PNR / 100 1600 = 5000xNx4/100 N = 1600 x 100 / 4x5000 N = 160000/20000 N = 16/2 = 8 yr

A sum is invested for 3 years at a certain rate of interest compounded annually. After 3 yeatrs the amount increases by 119.7 % . What is the rate of interest ?

Correct Answer Is : 30

Solution Is : Suppose initial amount be 1000 The amount increases by 119.7 % Hence , final amount = 1000 + 1197 = 2197 Rate of interest r% , then 1000(1 + r/100)3 = 2197 --> (1 + r/100)3 = (13/10 )3 r = 30 %

A sum of money doubles itself in 10 years at simple interest . In how many years would it become 5 times of itself ?

Correct Answer Is : 40

Solution Is : SI in first case = A - P = 2P - P = P SI = PxRxT / 100 P = P xR 10 / 100 r = 100P / 10 P = 10 % Similarly S.I in II case = 5P -P = 4P T = 4PX100 / PX10 = 40 years

A man buys land and pays 20 times its annual rent. What is the rate % ?

Correct Answer Is : 0.05

Solution Is : Annual rent can be treated as simple interest and price for which land is bought should be treated as principle amount hence SI = k and P = 20 k , SI = PNR / 100 k = 20kxRx1/100 R = 100 k / 20 k = 5 %

At what rate percent compound interest does a sum becomes nine-fold in 2 years ?

Correct Answer Is : 2

Solution Is : Let sum be Rs . P , then , 9P = P ( 1 + r/100) 2 1 + r/100 = 3 r = 200 %

The difference between the compound interest and simple interest on a certain sum for 2 yr at 6% per annum is Rs 27. The sum is

Correct Answer Is : Rs 7500

Solution Is :

The compound interest on Rs 1800 at 10 % per annum , for a certain period od time is Rs 378 . Find the time in years

Correct Answer Is : 2

Solution Is :

In how many years shall Rs 2500, invested at the rate of 8 % simple interest per annum , amount to Rs 3300 ?

Correct Answer Is : 4

Solution Is : P = 2500 R = 8 % A = 3300 SI = A - P = 3300 - 2500 SI = 800 N = ? SI = PNR / 100 800 = 2500xNx8/100 N = 800 x 100 / 8x2500 N = 10000/2500 N = 100/25 = 4 yr

Correct Answer Is :

Solution Is :

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Solution Is : Simple interest = PNR / 100 = 1800210 / 100 = Rs. 360 Compound interest = P ( 1 +r/100)n - P = 1800 ( 1 + 10/100)2 - 1800 = 1800 * 110 * 110 / 100*100 - 1800 = Rs 378 Required difference = 378 - 360 = Rs . 18

Solution Is : P = 2500
R = 8 %
A = 3300
SI = A - P = 3300 - 2500
SI = 800
N = ?
SI = PNR / 100
800 = 2500xNx8/100
N = 800 x 100 / 8x2500
N = 10000/2500
N = 100/25 = 4 yr