Simple & Compound Interest Questions  Genius Tutorials

Number of questions : 15
Answer Key Available  No
Topic : Simple & Compound interest
Source  Genius Tutorials Preparation Forum

Q1) A cell phone is available for Rs. 600 or for Rs.300 cash down payment together with Rs.360 to be paid after two months. Find the rate of interest charged under this scheme.
a. 20%
b. 50%
c. 120%
d. None

Q2) A man borrows a certain sum of money and pays it back in 2 years in two equal installments. If C.I. is reckoned at 5% per annum and he pays back annually Rs. 441, what sum did he borrow?
a. Rs. 820
b. Rs. 800
c. Rs. 882
d. Rs. 850

Q3) Samsung mobile phone is available for Rs.2500 cash or Rs.520 cash down payments followed by 4 equal installments. If the rate of interest charged is 25% per annum Simple interest, calculate the monthly installment
a. 520
b. 480
c. 550
d. None of these

Q4) Hiralal gave a loan of Rs. 20 to Ramlal and recovered it at the rate of Rs 3.50 for eight months, commencing from the end of 1st month. What is the effective rate of simple interest?
a. 60%
b. 80%
c. 20%
d. 90%

Q5) Find the amount of debt that will be discharged by 5 equal installments of Rs. 200 each, if the debt is due in 5 year at 5% p.a.

Q6) A watch is sold for Rs.440 cash or for Rs.200 cash down payment together with Rs.244 to be paid after one month. Find the rate of interest charged in the installment scheme.
a. 10%
b. 15%
c. 20%
d. 25%

Q7) Three equal installment, each of Rs 200, were paid at the end of year on a sum borrowed at 20% compound interest compounded annually. Find the sum.
a. Rs 600
b. Rs 400
c. Rs 421.30
d. Rs 432.10

Q8) Kishore purchases a track suit for Rs.2400 cash or for Rs.1000 cash down payments and two monthly installments of Rs.800 each. Find the rate of interest.
a. 75%
b. 120%
c. 50%
d. None of these

Q9) A man borrows Rs. 2100 and undertakes to pay back with compound interest @ 10% p.a. in 2 equal yearly installments at the end of first and second year. What is the amount of each installment?
a. 1200
b. 1210
c. 1300
d. 1310

Q10) A man borrows Rs. 820 and undertakes to pay back with compound interest @ 5% p.a. in 2 equal yearly installments at the end of first and second year. What is the amount of each installment?
a. 400
b. 420
c. 441
d. 410

Q11) A man borrows Rs. 1820 and undertakes to pay back with compound interest @ 20% p.a. in 3 equal yearly installments at the end of first, second and third years. What is the amount of each installment?
a. 864
b. 850
c. 820
d. 900

Q12) Find the amount of equal instalment, annual payment of which will discharge a debt of Rs. 848 due in 4 years at 4% p.a. of Simple interest.

Q13) What annual installment will discharge a debt of Rs 2,360 due in four years at 12% p.a. simple interest?
a. 400
b. 500
c. 300
d. 600

Q14) A sum of money invested at compound interests amounts to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate of interest per annum is
(a) 10%
(b) 7%
(c) 6%
(d) 5%

Q15) Rs.2400 becomes Rs.3000 in 3 years at a certain rate of compound interest. What will be the sum after 6 years?
(a) Rs. 4750
(b) Rs. 3750
(c) Rs. 3570
(d) Rs. 3850