Simple and Compound Interest

IMPORTANT

Simple and Compound Interest: Overview

This topic covers concepts, such as, Finding Simple Interest for Multiple Years, Applications of Compound Interest Formula, Growth Rate as Percentage & Depreciation of Value etc.

Important Questions on Simple and Compound Interest

MEDIUM
IMPORTANT

Each of the questions below consists of a question, followed by two statements numbered I and II. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give the answer.

(1) If the data in Statement I alone is sufficient to answer the question, while the data in Statement II alone is not sufficient to answer the question.
(2) If the data in Statement II alone is sufficient to answer the question, while the data in Statement I alone is not sufficient to answer the question.
(3) If the data given in Statement I alone or in Statement II alone is sufficient to answer the question.
(4) If the data given in both the Statements I and II together is not sufficient to answer the question.
(5) If the data in both the Statements I and II together is necessary to answer the question.

How many doctors are practising in this town ?

I. There is one doctor per seven hundred residents.
II. There are, 16 Wards with each ward having as many doctors as the number of wards.

EASY
IMPORTANT

In this question, relationship between different elements is shown in the statements. These statements are followed by two conclusion I and II.

Statements: king=rockshills<valley, valleyrocksbulls

Conclusions:
I. bullskingII. king>bulls

EASY
IMPORTANT

Read the information carefully and answer the following questions:
A + B means A is the father of B.
A - B means A is the sister of B.
A $ B means A is the wife of B.
A % B means A is the mother of B.
A ×B means A is the son of B.

Which of the given expressions indicates that M is daughter of D?

HARD
IMPORTANT

Number of girls taking admission in an engineering college increases by 20% for 2 years. In the third year admission by girls decreased by 10% . If the number of girls initially was 500, then the number of girls in the college at the end of the third year is what percent of the number of girls initially in the college?

HARD
IMPORTANT

Profits of a company XYZ Ltd. in 2017 was 390625. Profit increases to 456976 in 2021. Find the growth rate of the profit of the company :

EASY
IMPORTANT

Find the rate at S.I, at which sum becomes three times of itself in 8 years ?

EASY
IMPORTANT

An amount is divided between Anu and Bhanu is the ration 1:2. Anu purchased a car from his part, which depreciates 1427% p.a. and Bhanu deposited his amount in a bank which pays him 20% interest p.a. compounded annually. By what percentage will the total sum of money increase after two years due to investment pattern ?

MEDIUM
IMPORTANT

A sum of Rs. 9,000 was invested in two different Savings Schemes. Scheme A offered Simple Interest at the rate of 16% p.a. while Scheme B offered Compound Interest at the rate of 16% p.a., with semi-annual compounding. The amount received after two years from Scheme A was eight times the amount received from Scheme B. What were the approximate amounts invested in Scheme A and Scheme B respectively?

EASY
IMPORTANT

Sonika invested an amount of Rs. 5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.5 at the end of two years?

EASY
IMPORTANT

How much will be the compound interest to be paid on a principle amount of Rs. 85,000 after 3 years at the rate of 6 p.c.p.a.?

EASY
IMPORTANT

Mr. Khanna took a loan of Rs. 10,000 on simple interest for two years at the rate 3 p.c.p.a.. The total amount that he will be paying as interest in 2 years is 3% of his monthly salary. What is his monthly salary?

EASY
IMPORTANT

There is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 10,000 after 2 years at the same rate?

MEDIUM
IMPORTANT

A bank offers 10% compound interest calculated on half-yearly basis. A customer deposits Rs. 10,000 each on 1st January and 1st July of a year. At the end of the year, the total interest he would have received is:

MEDIUM
IMPORTANT

An equal sum is invested for six years in Scheme P offering simple interest at r% p.a. and in Scheme Q for two years offering compound interest at 10% p.a. (compounded annually). The interest earned from Scheme P is double the interest earned from Scheme Q. Had the rate of interest been (r + 3)% simple interest p.a. in Scheme P, the difference in the interests earned from both the schemes would have been Rs. 5,460, what was the sum invested in each of the schemes?

HARD
IMPORTANT

The difference between the simple interest and the compound interest on a certain sum of money for three years at 5% per annum is Rs. 114.375. The sum is:

MEDIUM
IMPORTANT

The difference between the amount of compound interest and simple interest accrued on an amount of 26,000 at the end of 3 years is 2994.134. What is the rate of interest in pcpa?

EASY
IMPORTANT

The compound interest on a sum of money at 30% per annum for 2 years is 259 times the simple interest accrued on a sum of Rs. 4500 at 15%for 2 years. What is the sum of money?

HARD
IMPORTANT

If the compound interest on a certain sum of money at the rate of 5% per annum for 3 years is Rs. 630.50, then what will be the simple interest for 18 months on the same amount of money at the same rate of interest?

MEDIUM
IMPORTANT

Ravi borrowed some money at the rate of 4% per annum for the first three years, at the rate of 8% per annum for the next two years and at the rate of 9% per annum for the period beyond 5 years. If he pays a total simple interest of 19,550 at the end of 7 years, how much money did he borrow?

EASY
IMPORTANT

Ram had Rs. 2 lakh, part of which he lent at 15% per annum and rest at 12% per annum. Yearly interest accured was Rs. 27600. How much did he lent at 15%?