Quant Quiz – Compound Interest – 23

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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.

(A) Rs. 6889

(B) Rs. 7259

(C) Rs. 8689

(D) Rs. 5124.50

(E) None of these

Answer & Solutions


2. A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to 8 times?

(A) 6 years

(B) 8 years

(C) 12 years

(D) 10 years

(E) None of these

Answer & Solutions


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

(A) Rs. 300

(B) Rs. 310

(C) Rs. 303

(D) Rs. 303·01

(E) None of these

Answer & Solutions


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.

(A) Rs. 50,000

(B) Rs. 60,000

(C) Rs. 65,000

(D) Rs. 55,000

(E) None of these

Answer & Solutions


5. The population of a town is 50,000. It decreases by 20 per thousand per year. Find out the population after 2 years.

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(A) 46,000

(B) 46,200

(C) 48,020

(D) 48,320

(E) None of these

Answer & Solutions


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?

(A) 10,000

(B) 9,000

(C) 11,000

(D) 8,000

(E) None of these

Answer & Solutions


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.

(A) Rs. 8,000

(B) Rs. 8,400

(C) Rs. 8,200

(D) Rs. 10,000

(E) None of these

Answer & Solutions


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.

(A) 4%

(B) 3%

(C) 5%

(D) 6%

(E) None of these

Answer & Solutions


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