*Hello and welcome to ***exampundit** . *Here is a set of Quantitative Aptitude Quiz based on Compound Interest Problems. Now, these questions are from Basic to Moderate just to rectify your errors and brush up your skills.*

**1. Ruchi borrows Rs. 13040 at 3 ¾% per annum from a bank. Compound interest is to be repaid in two**

**equal yearly instalments. Find the amount of each instalment.**

**2. A sum of money placed at compound interest doubles itself in 4 years. In how many years will it**

**amount to 8 times?**

**3. Find the compound interest of Rs. 10,000 in 9 months at 4% per annum interest payable quarterly.**

**4. Some money was lent on 4% C.I. If the difference in interest of second and the first year is Rs. 88, find**

**out the sum.**

**5. The population of a town is 50,000. It decreases by 20 per thousand per year. Find out the population**

**after 2 years.**

**6. If the population of a town at present is 10648 and the rate of increment is 10% per year. What was**

**the population before 3 years?**

**7. Akarsh left a will of Rs. 16,400 for his two sons aged 17 and 18 years. They must get equal amounts**

**when they are 20 years at 5% compound interest. Find the present share of the younger son.**

**8. The compound interest on a sum of money for 2 years is Rs. 410 and the simple interest on the same**

**sum for the same period and at the same rate is Rs. 400. Find the rate of interest.**

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**Solutions by Arjit:**

*(1) Installment* [(100/100+r)+(100/100+r)^2=Borrowed Amount*

*Use this formula to get Answer*

*(2) 4 years me 2 times*

*4+4 yrs me 4 times*

*4+4+4 yrs me 8 times*

*(3) Interest=10000(1+1/100)^3-10000*

*(4) First year CI or SI will be same=4 Rs*

*Second year interest=100[(1+4/100)^2)-100=4.16*

*Difference=4.16-4.00=0.16*

*……0.16———100*

*1—————100/0.16*

*88…………100*88/0.16=55000*

*(5) 50000(1-20/1000)^2……Please note, it is mentioned 1000 here.*

*(6)10648=P(1+10/100)^3…CALCULATE P*

*(7) Let share be x and 16400-x…..x elder and 16400-x younger*

*x(1+5/100)^2=16400-x(1+5/100)^3*

*because 18 yrs son will become 20 yrs in 2 yrs and 17 years son will become in 3 yrs*

*(8) Difference in CI-SI = 410 – 400 = Rs. 10*

*SI 1 year = 400/2 = Rs. 200 ..*

*This will work as Pricpl for next yr and intrest will be 10 rupees*

*10=200*r*1/100*

*r= 5%*

Regards

**Team ExamPundit**