Quant Questions For Practice 2
Quant Questions For Practice 2
1. At what rate of simple interest, will a sum of `32,000 11. The compound interest on a certain sum for the
yield an interest of `15,360 in six years? third year and the fourth year is `3630 and
`3993 respectively. What is the rate of interest per
2. A certain sum lent at simple interest amounts to annum?
`34,800 in five years and to `41,280 in eight years.
Find the sum as well as the rate of interest. 12. If compound interest for the third year is `1000 on a
certain sum at the rate of 10% p.a., what is the
3. In how much time will a sum of money become compound interest for the 7th year?
fifteen times itself at 21% p.a. simple interest?
13. Saritha invested `50,000 for 3 years, interest being
4. A sum becomes three times of itself in eight years at compounded annually. If the rate of interest is
a certain rate of simple interest. In how many years 8%, 10% and 12% for the 1st year, 2nd year and
will the sum become nine times of itself at the same 3rd year respectively, find the interest earned by
rate of interest? Saritha.
5. Arun lent `3000 in two parts. He lent each part for a 14. A sum of money triples at compound interest
year. He lent `1200 at 6% p.a. and the remaining at in 7 years. In how many years will it become
10% p.a., both at simple interest. Find the effective 27 times itself?
rate of interest at which he lent the entire sum. 15. What would be the interest earned, if a person
invests `2000 at 40% p.a. for one year,
6. Anil lent a total of `50,000 to two persons at simple
(a) when interest is compounded half yearly?
interest, the rates of interest being 12% p.a. and
(b) when interest is compounded quarterly?
9% p.a. The interest received from the first person in
four years is equal to the interest received from the 16. Find the effective annual rate of interest if the rate of
second person in three years. How much amount interest is 12% p.a., and the interest is compounded
was lent to the second person? once every 4 months.
7. A total of ` p is lent out to three people at simple 17. Find the difference between the simple interest
interest at the rates of 10% p.a., 20% p.a and and compound interest on `500 at 10% p.a. for
14% p.a., for 6 years, 5 years and 2 years 2 years.
respectively. If the amount received from each of
them is `6400, find the value of p. 18. An amount of `2400 is due after 6 years under
simple interest at 10% p.a. Find its present value.
8. Find the compound interest obtained on a sum of
`32,000 at 25% p.a for 4 years (in `). 19. Shyam borrowed `18000 at 15% p.a, compounded
annually. He repaid `10700 at the end of the
9. The compound interest on `18,000 at 4% p.a. for a 1st year. What is the amount he should pay at the end
certain period is `1468.8. Find the time period. of the 2nd year to completely discharge the loan?
10. A sum was lent at a certain rate of compound 20. Amar borrows `2100 at the rate of 10% p.a.
interest. It amounted to `15,600 at the end of compounded annually and has to repay it in two
4 years and to `18,720 at the end of 8 years. equal annual instalments in 2 years. What is the
Find the sum (in `). value of each instalment?
1. Raju borrowed `15000 from Mahesh at the rate of 2. Given, the difference between simple interest for
15% per annum under simple interest for 3 years. 2 years and compound interest for 2 years on
Raju lent some part of money at 20% per annum at the same sum and at the same rate of interest
simple interest for 3 years and the remaining compounded annually is `120. The difference
part at 12% p.a. at simple interest for 3 years. between simple interest for 3 years and compound
If the interest received by Raju on the money lent is interest for 3 years on the same sum and at
equal to the interest payable, find the sum he lent at the same rate of interest is `366. Find the rate
20% simple interest. of interest.
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3. Janardhan deposited a certain sum of money in a `7260 are received at the end of the 1 st year and
fixed deposit account at k% p.a. interest being 2nd year respectively.
compounded annually. If the interest accrued for 7. Saketh borrowed a sum of `96,000 at 5% p.a.
the 3rd and the 4th years is `5000 and interest, compounded annually. At the end of the
`6250 respectively, what is the total interest accrued first year, he repaid a certain amount and he repaid
for the first two years? the balance amount of `63,000 at the end of the
second year. What amount did he repay at the end
4. A person borrowed a sum of `53680 at 15% per of the first year?
annum compound interest, compounded every
4 months. Another person borrowed an equal sum 8. A sum of money yields an interest of `2,016 for the
at the same rate of interest under simple interest. second year and an interest of `2,257.92 for the
What is the difference between their amounts at the third year at a certain rate of interest, compounded
end of the first year? annually. What is the initial sum?
5. If the difference between simple interest for 9. What will be the compound interest accrued on an
2 years at 5% p.a. on a certain sum and compound initial amount of `12,000 at 20% p.a. for the second
interest for 2 years at 6.25% p.a. on the same sum year if the interest is compounded half-yearly?
compounded annually is `37, find the sum.
10. The value of an electronic device depreciates at the
6. Find the sum of the present values of the payments rate of 5% per annum. If its present value is
received at 10% p.a. under compound interest, `32490, what was its value two years ago?
interest being compounded annually if `7700 and
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