MBA Quantitative Aptitude Questions & Answers – Compound Interest and Simple Interest Set-I
Practice the concepts of Compound Interest and Simple Interest for the upcoming MBA entrance exams. Jagranjosh.com is one stop destination to help you prepare well for entrances such as CAT, CMAT, MAT, XAT, IIFT, SNAP and many more.
MBA Quantitative Aptitude - Simple Interest and Compound Interest is an important topic for the MBA entrance exams and candidates must practise this concept carefully as the questions from SI &CI are often seen in the Data Interpretation section too.
Be it any MBA entrance exam such as CAT, MAT, XAT, SNAP, IIFT, NMAT, CMAT and many more among others, questions from Simple Interest and Compound Interest would fetch at least 4-5 marks to an aspirants attempting MBA quantitative aptitude section.
Here is a list of questions that you should practise in order to test your QA skills and to ace full marks in the SI & CI concept:-
1. Equal amounts of each Rs. 589542 are lent to two persons for 3 years. One @ 20% SI and second @ 20% CI annually. By how much per cent the CI is greater than the simple interest received in this 3 years duration?
a) 23%
b) 21.11%
c) 33.33%
d) None of these
Basic Concepts – Simple Interest and Compound Interest
2. Sandeep lends twice the interest received from Virender to Dinesh at the half of the interest at which he lent to Virender. If Sandeep lent Rs. P @ r% per annum for 1 year to Virender then the interest received by Sandeep from Dinesh is:
How to solve problems on Simple and Compound Interest
3. The population Himalayan Quail in a particular locality is decreases by a certain rate of interest (compounded annually). If the current population of Himalayan Quail be 58320 and the ratio of decrease in population for second year and 3rd year be 10: 9. What was the population of Himalayan Quail 3 years ago?
a) 60000
b) 75000
c) 80000
d) 90000
4. Find out the total annual amount invested by Ms. Sanya if she invests 12% of her monthly salary, i.e. Rs.6336 in Fixed Deposits. Later, she invests 20% of her monthly salary on health Insurance Policies; also she invests another 8% of her monthly salary on Mutual Funds. ?
a) Rs.553440
b) Rs.506880
c) Rs.635672
d) Rs.636324
MBA Quantitative Aptitude Questions & Answers – Ratio and Proportion Set-I
5. A man lends one of his prize money of Rs 20,000 to four persons. If he gets an interest of 12% on Rs 6000 from the first person, 8% for another Rs 6000, 4% on Rs 4000, what rate must he get on the remaining part to make his average annual interest 16%?
a) 28
b) 46
c) 36
d) 42
6. Ramit invested a certain sum of money at 8% p.a. simple interest for ‘n’ years. At the end of ‘n’ years, Ramit got back 4 times his original investment. What is the value of n?
a) 50 years
b) 25 years
c) 12 years 6 months
d) 37 years 6 months
MBA Quantitative Aptitude Questions & Answers – Progressions Set-I
7. Mr. John invested a certain sum of money in a simple interest bond whose value grew to $300 at the end of 3 years and to $400 at the end of another 5 years. What was the rate of interest in which he invested his sum?
a) 12%
b) 12.5%
c) 6.25%
d) 8.33%
8. Find SI on Rs. 3000 at 18% p.a. for the period 5 February 2013 to 18 April 2013, both days inclusive.
a) Rs. 108
b) Rs. 439
c) Rs. 180
d) None of these
9. A household want to diversified his investment and invest Rs. 24,000 as a part of it at a bank at the rate of 10% per annum. But due to some pressing needs he has to withdraw the entire money after 3 years, for lower rate of interest. If he gets Rs. 6,640 less than what he would have got at the end of 5 years, the rate of interest allowed by the bank is:
a) 8.25%
b) 7.44%
c) 6.25%
d) 8.75%
10. A sum of Rs 4000 is partly lent at the rate of 4% and the remaining part at the rate of 3% for 2 years. In what ratio is the money parted so that the interest received after two years is RS 280.
a) 1:1
b) 2:1
c) 1:2
d) 1:3
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Answers:
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