5% Search

Q:

Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?

A) Rs.8600	B) Rs.8830
C) Rs.8500	D) Rs.8820

Answer & Explanation Answer: D) Rs.8820

Explanation:

Amount

=Rs.[8000x(1+5/100)²]

= Rs.[8000 x 21/20x21/20]

= Rs.8820.

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually

A) Rs.512	B) Rs.515
C) Rs.612	D) Rs.522

Answer & Explanation Answer: C) Rs.612

Explanation:

Amount

= Rs[7500x(1+4/100)²]

=Rs.(7500 * 26/25 * 26/25)

=Rs.8112

C.I

= Rs(8112 - 7500)

=Rs.612

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

What is the principal sum?
I. The sum amounts to Rs. 690 in 3 years at S.I.
II. The sum amounts to Rs. 750 in 5 years at S.I.
III. The rate of interest is 5% p.a.

A) I and III only	B) II and III only
C) I and II only	D) Any two of the three

Answer & Explanation Answer: D) Any two of the three

Explanation:

Clearly, any of the three will give us the answer

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

What is the rate of simple interest?
I. The total interest earned was Rs. 4000.
II. The sum was invested for 4 years.

A) I alone sufficient while II alone not sufficient to answer	B) II alone sufficient while I alone not sufficient to answer
C) Either I or II alone sufficient to answer	D) Both I and II are not sufficient to answer

Answer & Explanation Answer: D) Both I and II are not sufficient to answer

Explanation:

We know that, R = (100 x S.I) / (P x T)

Now I gives, S.I = Rs. 4000.

II gives, T = 4 years.

But, P is unknown. So, we cannot find R.

So, given data is insufficient to get R.

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

A) 65years	B) 56years
C) 45years	D) 57years

Answer & Explanation Answer: B) 56years

Explanation:

Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum

In this case, Rs. 1250 has become Rs.10,000.

Therefore, the interest earned = 10,000 – 1250 = 8750.

8750 = [(1250 x n x 12.5)/100]

=> n = 700 / 12.5 = 56 years.

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

A man borrowed Rs 24000 from two money lenders. For one loan, he paid 15% per annum and for the other 18% per annum. At the end of one year, he paid Rs 4050. How much did he borrow at each rate ?

A) Rs.16000	B) Rs.12000
C) Rs.15000	D) Rs.13000

Answer & Explanation Answer: C) Rs.15000

Explanation:

Let the sum at 15% be Rs x and that at 18% be Rs (24000 - x).

{(x * 15 * 1)/100 } + { [(24000 – x) * 18 * 1]/100 } = 4050

or 15 x + 432000 - 18x = 405000 or x = 9000.

Money borrowed at 15% = Rs 9000 .

Money borrowed at 18% = Rs 15000.

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: GRE

Q:

Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, If both are numerically equal.

A) Rate = 7% and Time = 7 years.	B) Rate = 8% and Time = 8 years.
C) Rate = 6% and Time = 6 years.	D) Rate = 5% and Time = 5 years.

Answer & Explanation Answer: B) Rate = 8% and Time = 8 years.

Explanation:

Let sum = X. Then S.I = 16x/25

Let rate = R% and Time = R years.

Therefore, (x * R * R)/100 = 16x/25 => R = 40/5 = 8

Therefore, Rate = 8% and Time = 8 years.

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: GRE

Q:

A sum at simple interest at $13 \frac{1}{2}$ % per annum amounts to Rs. 2502.50 after 4 years. Find the sum

A) Rs.1625	B) Rs1525
C) Rs.1425	D) Rs.1325

Answer & Explanation Answer: A) Rs.1625

Explanation:

Let sum be Rs.x then, S.I. =Rs. [ x * (27/2) * 4 * (1/100) ] = Rs. 27x/50

Amount =Rs [ x + (27x/50)] = Rs.77x/50

=> 77X/50 = 2502.50

=>X= (2502.50 * 50)/77 = 1625

Hence Sum = Rs.1625

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

Searching for "5%"

Quick Links