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Some amount was divided into two equal parts. The first part was invested at 10% per annum at simple interest for 4 years. The second part was invested at 10% per annum at compound interest for 3 years. If the difference in the interests earned from the two investments is Rs. 1000, find the approximate value of the total initial amount.

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Important Questions on Quantitative Skills

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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 16
The value of a car depreciates at the rate of 10% per annum. If its present value is Rs. 121500, then what was the value of the car two years ago?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 17
Ram lent Rs. 800 to a friend for 2 years and one-fourth of this amount to another friend for 3 years. He received Rs. 275 in total as simple interest. What was the rate of interest?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 18
At what interest rate per annum will a sum of money double itself in 8 years?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 19
Parikshit invests Rs. 1546 in BNP bank at a certain rate of compound interest per annum. At the end of 8 years, he finds that his money has doubled. What approximately is the rate of interest BNP bank paid him?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 20
Giri divided his property between his children Suma and Dev. Suma invested her share at 10% per annum simple interest and Dev invested his share compounded at 8% per annum. At the end of 2 years, the interest received by Suma is Rs. 13,360 more than the interest received by Dev. What was Suma’s share if the total amount divided was Rs. 2,50,000?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 21
If Rs. 23,579 triples itself in 3 years when invested in a bond for which the investment interest rate is compounded annually, then in how many years will it become 27 times of itself?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 22
Arvind sells clothes at a roadside market for which he pays Rs. 150 per day to rent a table plus Rs. 10 per hour to his salesman. He sells an average of Rs. 78 worth of clothes per hour. Assuming no other costs, which of the functions below best represents profit per day P in terms of hours h that Arvind works for?
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NMAT Official Guide 2020 - Quantitative Skills>Chapter 1 - Quantitative Skills>Practice Questions>Q 23
A batch of clips costs Rs. (p + 15) for a company to produce and each batch sells for Rs. p (9 – p). For which of the following values of p does the company make a profit?