SBI Clerk 2018: Quantitative Aptitude Quiz for Prelims – 30

Hello and welcome to exampundit. Here is a set of Quantitative Aptitude Quiz on Simple & Compound Interest based problems with Shortcut Solutions for Prelims exam of SBI Clerk 2018. 1. Virat invested a sum of money at a certain rate of simple interest for a period of 4 yrs. Had he invested the same sum for a period of 6 yrs the total interest earned by him would have been 50 % more than the earlier interest amount. What was the rate of interest percent per annum?
1) 4
2) 8
3) 5
4) can’t be determined
5) None of these

Option: 4

Explanation: Principal and rate of interest both are unknown. Information is incomplete. So ans should be can’t be determined.

2. Rs. 600 becomes Rs. 720 in 4 years when the interest is simple. If the rate of interest is increased by 2%, then what will be total amount?
1) 768
2) 752
3) 649
4) 846
5) None of these

Option: 1

Explanation: Simple interest= 720-600 = 120
Rate= 120 * 100/ 600 * 4 = 5
Rate is increased by 2%, rate will be ( 5 + 2) = 7%
SI= 600* 4 * 7/ 100 = 168
Amount= 600+ 168 = 768

3. Akshay invests Rs. 1 lakhs at 12% p.a. for 1 yr. If he invests Rs. 500 more, he is eligible for 13% p.a. interest. How much more interest would he receive, if he accepted the second option?
1) 2065
2) 1065
3) 2056
4) 1056
5) None of these

Option: 2

Explanation: SI= 100000 * 12 * 1/ 100 = 12000
If he invests 500 more, Then SI= (100500 + 500) * 13 * 1/100 =13065
More interest= (13065-12000) = 1065

4. A certain sum of money amounts to Rs. 756 in 2 yrs and to Rs. 873 in 3.5 yrs. Find the rate of interest.
1) 12
2) 14
3) 13
4) 15
5) None of these

Option: 3

Explanation: In 2 yrs amounts to 756
In 3.5yrs amounts to 873
In 1.5 yrs amounts to =( 873 – 756) = 117
In 2 yrs amounts to = 117 * 2/1.5 = 156
Principle in 2 yrs = 756 – 156 = 600
Rate= 15600 / (600 * 2) = 13

5. Divide Rs. 4758 into three parts so that their amounts after 2, 3, and 4 yrs respectively may be equal, the rate of interest being 5% per annum. Find amount of 1st part.
1) 1656
2) 1556
3) 1756
4) 1856
5) None of these

Option: 1

Explanation: 110/100: 115/100: 120/100
= 1/22: 1/23: 1/24
= 276: 264: 253
1st part = 1656

6. If the difference between the simple interest and compound interest earned on an amount @ 15 p.c.p.a. at the end of 3 yrs is Rs. 595.35, what is the amount?
1) 9400
2) 8400
3) 6400
4) 7400
5) None of these

Option: 2

Explanation: Diff in 3 yrs= R* R * P (300+ R)/ 100*100*100
595.35 = 15 * 15 * P( 300+15) /1000000
P= 8400

7. In the year 2016, 5000 students were admitted in a college. It is found that the number of students admitted is constantly increasing by 24% per year. How many students will be admitted in the college in the year 2018?
1) 7688
2) 7868
3) 7666
4) 7888
5) None of these

Option: 1

Explanation: 5000 [ 1 +24/100]^2 = 7688

8. If the difference between simple interest and compound interest earned on a sum of money at the rate of 5% per yr for 2 yrs is Rs. 16, find the principal.
1) 6500
2) 6200
3) 6400
4) 6600
5) None of these

Option: 3

Explanation: Difference in 2 yrs= R*R* P/ 100*100
16 = 5 * 5 * P/10000
25 P = 160000
P= 6400

9. A sum of money at compound interest amounts to thrice itself in 3 yrs. In how many years will it be 9 times itself?
1) 4
2) 6
3) 9
4) 8
5) None of these

Option: 2

Explanation: 3X = X [1+ R/100] ^3 3 = [1+ R/100] ^3
3^2 = [1 +R/100] ^3^2
9 = [1+ R/100] ^ 6
In 6 yrs amount will be 9 times.

10. The compound interest on a certain sum of money for 2 yrs at 10% per annum is rs. 420. Find the simple interest at the same rate and for the same time.
1) 400
2) 200
3) 500
4) 600
5) None of these

Option: 1

Explanation: SI for 2 yrs at 10%= 20% of capital
Ci for 2 yrs at 10% =2 * 10 + 10*10/100 = 21% of capital
21% capital = 420
20% capital = 420 * 20/ 21 = 400

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