MEDIUM
CAT
IMPORTANT
Earn 100

The difference between CI and SI on a certain sum of money at 10% per annum for 3 years is ₹620. Find the principal, if it is known that the interest is compounded annually.

50% studentsanswered this correctly

Important Questions on Interest

HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 16
The population of Mangalore was 1283575 on 1st January 2011 and the growth rate of population was 10% in the last year and 5% in the years prior to it, the only exception being 2009 when because of a huge exodus, there was a decline of 20% in population. What was the population on January 1, 2005?
HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 17
According to the 2011 census, the population growth rate of Lucknow is going to be an increasing AP with first year's rate as 5% and common difference as 5%, but simultaneously the migration rate is an increasing GP with first term as 1% and common ratio of 2. If the population on 31 December 2010 is 1 million, then find in which year will Lucknow witness its first fall in population?
HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 18
Mohit Anand borrows a certain sum of money from the Mindworkzz Bank at 10% per annum at compound interest. The entire debt is discharged in full by Mohit Anand on payment of two equal amounts of ₹1000 each, one at the end of the first years and the other at the end of the second year. What is the approximate value of the amount borrowed by him?
HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 19
In order to buy a car, a man borrowed ₹180000 on the condition that he had to pay 7.5% interest every year. He also agreed to repay the principal in equal annual instalments over 21 years. After a certain number of years, however, the rate of interest has been reduced to 7%. It is known that at the end of the agreed period, he will have paid in all ₹270900 in interest. For how many years does he pay at the reduced interest rate?
HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 20
A sum of ₹8000 is borrowed at 5% per annum compound interest and paid back in three equal annual instalments. What is the amount of each instalment?
MEDIUM
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 21
Three amounts x, y, z are such that y is the simple interest on x and z is the simple interest on y. If in all the three cases, rate of interest per annum and the time for which interest is calculated is the same, then find the relation between x, y and z.
HARD
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 22
A person lent out some money for one year at 6% per annum simple interest and after 18 months, he again lent out the same money at a simple interest of 24% per annum. In both the cases, he got ₹4704. Which of these could be the amount that was lent out in each case, if interest is paid half-yearly?
MEDIUM
CAT
IMPORTANT
How to prepare for Quantitative Aptitude for the CAT>Chapter 10 - Interest>Level of Difficulty>Q 23
A person bought a motorbike under the following scheme: down payment of ₹15000 and the rest amount at 8% per annum simple interest for two years. In this way, he paid ₹28920 in total. Find the actual price of the motorbike.