1. Rajesh invested Rs. 10,000 by dividing it into 4.
Anandi bought a smart watch from an
two different investment schemes, A and B, at electronic store for Rs. 4,400. Since she had
simple interest rates of 8% and 10%,
less money, she paid Rs. 2,000 for down
respectively. If the total interest earned in 2
years is Rs. 1,680, the amount invested in payment and the shopkeeper offered her an
scheme A is: alternative to pay Rs. 2,440 after 1 month.
Find the rate of interest being charged at
A B simple interest by the shopkeeper in this
instalment option?
A
(a) Rs. 2,000 (b) Rs. 6,000
(c) Rs. 8,000 (d) Rs. 4,000
2. If an amount of Rs. 80 becomes Rs. 96 in 2
years in a bank account which gives simple
annual interest, then an amount of Rs. 62,000
will become _______ in the same account
after 5 years.
(a) 10% (b) 20%
(c) 15% (d) 22%
(a) Rs. 84,600 (b) Rs. 82,400 5. Ramesh borrowed Rs. 15,000 at a certain rate
(c) Rs. 93,000 (d) Rs. 88,200 of simple interest from a bank. He repaid (the
3. Ramesh borrowed some money at rate of 5% principal but not interest) Rs. 6,000 after 5
per annum for the first four years, 8% per
years, and after 5 more years he paid Rs.
annum for the next six years, and 12% per
annum for the period beyond ten years. If the 18,600 and settled his account. Find the rate
total interest paid by him at the end of twelve of simple interest per annum.
years is Rs. 9,016, then find the money
borrowed by Ramesh.
(a) Rs. 9,816 (b) Rs. 9,800 (a) 12% (b) 10%
(c) Rs. 9,016 (d) Rs. 9,616 (c) 6% (d) 8%
6. Kanchan lent Rs. 10,000 for 2 years and Rs. 10. Jonathan had borrowed a sum of money 3
5,000 for 4 years at the same rate of simple years ago at 10% interest per annum
interest. If the total interest received by compounded annually for a 5-year period,
Kanchan is Rs. 2,000, then what was the rate with the amount to be paid at the end of the
of interest? period being Rs. 1,61,051. However, there is
no pre-payment penalty and Jonathan has
received some bonus payment now, with
which he has decided to clear his debt. How
much does Jonathan have to pay now to clear
(a) 4% (b) 5%
his debt?
(c) 3% (d) 2%
7. What annual instalment (in Rs.) will discharge
a debt of Rs. 9,429 due in three years at
12.25% simple interest per annum? [Note:
Instalments will be paid at the end of Year 1,
Year 2 and Year 3.]
(a) 2700 (a) Rs. 1,33,000 (b) Rs. 1,32,900
(b) 2760 (c) Rs. 1,33,200 (d) Rs. 1,33,100
(c) 2840 11. A sum of Rs. 1,00,000 was taken from a bank
(d) 2800 at the rate of 7% p.a to be compounded
8. A sum amounts to Rs. 7,656 in 4 years and to annually for 5 years. Calculate the compound
Rs. 8,120 in 5 years at a certain simple interest interest. (Closest to a Rs.)
rate per cent per annum. The rate of interest
is:
(a) Rs. 40,255 (b) Rs. 40,000
(a) 3% (b) 7% (c) Rs. 40,567 (d) Rs. 20,963
(c) 8% (d) 4% 12. Find the amount (integral value only) if a sum
9. In a store, Arun has two options to buy a of Rs. 6,500 is being borrowed at 10% interest
mobile phone, either he can pay the full per annum for 2 years if interest is
amount of Rs. 2,500 or he may buy at an compounded half- yearly.
instalment scheme, i.e. Rs. 520 in down
payment and four equal instalments, rate of
interest being charged at 25% p.a. simple
interest. Arun buys a mobile phone on the
instalment scheme. What is the monthly
instalment for Arun? (a) Rs. 7,650 (b) Rs. 8,250
(c) Rs. 8,150 (d) Rs. 7,900
13. What is the compound interest on a sum of
Rs. 25,000 after three years at a rate of 12
percent per annum interest compounded
yearly?
(a) Rs. 510 (b) Rs. 520 (a) Rs. 9,824.00 (b) Rs. 10,520.00
(c) Rs. 530 (d) Rs. 550 (c) Rs. 9,956.86 (d) Rs. 10,123.20
14. A sum of money was invested at 10% interest 16. A sum of money amounts to Rs. 1,200 in 2
per year, compounded half-yearly, for 18 years and becomes Rs. 1,260 in 3 years at
months. If the amount payable on maturity compound interest, when interest is
was Rs. 64,827, what was the sum invested? compounded annually. What is the rate of
compound interest per annum?
(a) Rs. 56,800 (b) Rs. 55,600
(c) Rs. 56,500 (d) Rs. 56,000 (a) 3% (b) 6%
15. Peter invested a certain sum of money in a (c) 5% (d) 4%
scheme paying 10% simple interest per 17. If interest be compounded half-yearly, then
annum, while Rachel invested half of the sum find the compound interest on Rs. 8,000 at
that Peter invested in a scheme paying 10% 20% p.a. for 1 year.
interest per annum compounded annually.
Also, while Peter invested for 2 years, Rachel
invested for 3 years. If the difference in the
interest earned by Peter and Rachel was Rs. (a) Rs. 1,685 (b) Rs. 1,680
897, what was the sum that Rachel had (c) Rs. 1,690 (d) Rs. 1,675
invested?
(a) Rs. 12,900 (b) Rs. 12,960
(c) Rs. 13,100 (d) Rs. 13,000
