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Q:

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is

A) 2years	B) 3years
C) 4years	D) 5years

Answer & Explanation Answer: A) 2years

Explanation:

Amount = Rs(30000 + 4347) = Rs.34347.

Let the time be n years. Then,

$30000 {[1 + \frac{7}{100}]}^{n} = 34347$

$\Leftrightarrow$ ${(\frac{107}{100})}^{n} = \frac{34347}{30000} = \frac{11449}{10000} = {(\frac{107}{100})}^{2}$

n= 2years.

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

Q:

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

A) Rs.1251	B) Rs.1261
C) Rs.1271	D) Rs,1281

Answer & Explanation Answer: B) Rs.1261

Explanation:

Clearly, Rate = 5% p.a .,

Time = 3 years

S.I =Rs.1200.

So,Principal

=Rs.(100 x 1200/3x5)

=Rs.8000.

Amount

=Rs.[8000 x (1+5/100)³]

=Rs(8000x21/20x21/20x21/20)

= Rs.9261

C.I

=Rs.(9261-8000)

=Rs.1261.

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

Q:

Find: S.l. on Rs 3000 at 18% per annum for the period from 4th

A) 118	B) 105
C) 108	D) 110

Answer & Explanation Answer: C) 108

Explanation:

(24 + 31 + 18) days = 73 days = 1/5 year .

P = Rs 3000 and R = 18 % p.a.

$S . I = (\frac{3000 * 18 * \frac{1}{5}}{100})$

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

Q:

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

A) Rs.2000	B) Rs.10000
C) Rs.15000	D) Rs.20000

Answer & Explanation Answer: C) Rs.15000

Explanation:

Principal = $R s (\frac{100 \times 5400}{12 \times 3}) = R s . 15000$

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Filed Under: Simple Interest
Exam Prep: Bank Exams
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Q:

Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of Interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A) 3.6	B) 6
C) 18	D) cannot be determined

Answer & Explanation Answer: B) 6

Explanation:

Let rate = R% and time = R years.

Then, $(\frac{1200 \times R \times R}{100}) = 432$

$12 R^{2} = 432$

=> R = 6.

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

Q:

The compound interest on rs.30000 at 7% per annum is Rs.4347. The period is

A) 2 years	B) 2.5 years
C) 3 years	D) 4 years

Answer & Explanation Answer: A) 2 years

Explanation:

Amount = Rs.(30000+4347) = Rs.34347

let the time be n years

Then,30000(1+7/100)^n = 34347

(107/100)^n = 34347/30000 = 11449/10000 = (107/100)^2

$\therefore$ n = 2years

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Filed Under: Compound Interest
Exam Prep: GRE

Q:

Four subjects — Physics, Chemistry, Mathematics and Biology were taught in four consecutive periods of one hour each starting from 8.00 a.m. At what time was the Chemistry period scheduled ?

I. Mathematics period ended at 10.00 a.m. which was preceded by Biology.

II. Physics was scheduled in the last period.

III. Mathematics period was immediately followed by Chemistry.

A) Only I	B) Only I or Only II
C) Only II	D) I and II together or I and III together

Answer & Explanation Answer: D) I and II together or I and III together

Explanation:

From I and II. we conclude that Mathematics period began at 9.00 a.m., Biology period began at 8.00 a.m. and Physics period began at 11 a.m. So. the Chemistry period began at 10.00 a.m. From I and III, we conclude that Mathematics period ended and Chemistry period began at 10.00 a.m.

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Filed Under: Data Sufficiency

Q:

The schools which taught primary education to Muslims during the period of sultanate

A) Mukhaddams	B) Makthabs
C) Kohies	D) None

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