Mathematical Aptitude MCQ - Interest

6 The compound interest on Rs 30,000 at 7% per annum is Rs 4347. The period (in years) is

$interest$

7 Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 4000 for 2 years at 10% per annum. The sum placed on simple interest is

$interest$

8 The compound interest on a certain sum of money for 2 years at 10% per annum is Rs 525. The simple interest on the same sum for double the time at half the rate per cent per annum is

$interst$

9 An amount doubles itself in 15 years, what is the rate of interest?

Let the principle be P.
As the amount doubles itself the interest is P too.
So P = P × r × 15/100
⇒ r = 100/15 = 20/3% = 6.66%

10 A certain sum of money amounts to Rs 2500 in a span of 5 years and further to Rs 3000 in a span of 7 years at simple interest. The sum is

2500 in 5th year and 3000 in 7th year.
So in between 2 years, Rs 500 has increased.
⇒ For a year 500/2 = 250
So, per year it is increasing Rs 250, then in 5 years
⇒ 250 × 5 = 1250
Hence, the initial amount must be 2500 – 1250
= Rs 1250.

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