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.
interest is to be repaid in two equal
yearly instalments. Find the amount of each instalment.
placed at compound interest doubles itself in 4 years. In how many years will
it amount to 8 times?
interest of Rs. 10,000 in 9 months at 4% per annum interest payable quarterly.
lent on 4% C.I. If the difference in interest of second and the first year is
Rs. 88, find out the sum.
a town is 50,000. It decreases by 20 per thousand per year. Find out the
population after 2 years.
of a town at present is 10648 and the rate of increment is 10% per year. What
was the population before 3 years?
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.
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.
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
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