Time Left :

- Number Systems Test
- Alligations Test
- Averages and Mixtures
- Interest Problems Test
- Percentage Problems Test
- Profit and Loss Test
- Progressions Test Test
- Time and Work Test Test
- Geometry Mock Test
- Time, Speed and Distance Test
- Ratio and Proportion Test
- Coordinate Geometry Test
- Permutation & Combinations Test
- Algebra Functions Test
- Algebra Inequalities Test
- logarithms Mock Test
- Mensurations Mock Test
- Quadratic Equations Test

- Total Questions 20
- Each question carry 1 mark
- Must answer all the questions (otherwise report card will not be generated)
- If you dont want to take a test, simply click the check answers button and view all the answers with explanations
- Do Not Refresh the Page
- No Time Limit
- Good Luck :)

You Scored % - /

1. Rs.1200 is lent out at 5% per annum simple interest
for 3 years. Find the amount after 3 years.

Correct Answers :

[A]

Explanation :

The annual interest would be ₹60. After 3 years the total value would be 1200 + 60 x 3 = 1380

2. Interest obtained on a sum of Rs. 5000 for 3 years is
Rs. 1500. Find the rate percent.

Correct Answers :

[C]

Explanation :

The interest earned per year would be 1500/3=500. This represents a 10% rate of interest.

3. Rs.2100 is lent at compound interest of 5% per
annum for 2 years. Find the amount after two years.

Correct Answers :

[B]

Explanation :

2100 + 5% of 2100 = 2100 + 105 = 2205 (after 1 year). Next year it would become: 2205 + 5% of 2205 = 2205 +110.25 = 2315.25

4. Rs.1694 is repaid after two years at compound
interest. Which of the following is the value of the principal and the rate?

Correct Answers :

[C]

Explanation :

5. Find the difference between the simple and the compound
interest at 5% per annum for 2 years on a principal of Rs.2000.

Correct Answers :

[A]

Explanation :

Simple Interest for 2 years = 100 + 100 = 200.
Compound interest for 2 years: Year 1 = 5% of 2000 = 100.

Year 2: 5% of 2100 = 105 --> Total compound interest
= ₹205.

Difference between the Simple and Compound interest = 205 – 200 = ₹5

6. Find the rate of interest if the amount after 2 years
of simple interest on a capital of Rs.1200 is Rs.1440.

Correct Answers :

[C]

Explanation :

Interest in 2 years = ₹240.

Interest per year = ₹120

Rate of interest = 10%

7. After how many years will a sum of Rs.12,500
become Rs.17,500 at the rate of 10% per annum?.

Correct Answers :

[C]

Explanation :

12500 @ 10% simple interest would give an interest of ₹1250 per annum. For a total interest of ₹5000, it would take 4 years.

8. What is the difference between the simple interest
on a principal of Rs.500 being calculated at 5% per annum for 3 years and 4% per annum for 4 years?

Correct Answers :

[A]

Explanation :

5% for 3 years (SI) = 15% of the amount; At the same time 4% SI for 4 years means 16% of the amount. The difference between the two is 1% of the amount. 1% of 500 =₹5

9. What is the simple interest on a sum of Rs.700 if the
rate of interest for the first 3 years is 8% per annum and for the last 2 years is 7.5% per annum?

Correct Answers :

[C]

Explanation :

8% @ 700 = ₹56 per year for 3 years

7.5% @ 700 = ₹52.5 per year for 2 years

Total interest = 56 x 3 + 52.5 x 2 = 273.

10. What is the simple interest for 9 years on a sum of
Rs. 800 if the rate of interest for the first 4 years is 8% per annum and for the last 4 years is 6% per
annum?

Correct Answers :

[D]

Explanation :

8% of 800 for 4 years + 6% of 800 for 4 years = 64 x 4 + 48 x 4 = 256 + 192 = 448.

However, we do not know the rate of interest applicable in the 5th year and hence cannot determine the exact simple interest for 9 years.

11. What is the difference between compound interest
and simple interest for the sum of Rs. 20,000 over a 2 year period if the compound interest is calculated
at 20% and simple interest is calculated at 23%?

Correct Answers :

[A]

Explanation :

Simple interest @ 23% = 4600 x 2 = 9200
Compound interest @ 20%

-->8800 compound interest.

Difference = 9200 – 8800 = ₹400.

12. Find the compound interest on Rs.1000 at the rate
of 20% per annum for 18 months when interest is compounded half-yearly.

Correct Answers :

[A]

Explanation :

Compound interest = 1331 – 1000 = ₹331

13. Find the principal if the interest compounded at the
rate of 10% per annum for two years is Rs.420.

Correct Answers :

[A]

Explanation :

Solve using options. Thinking about option (a): 2000 → 2200 (after 1 year) → 2420 (after 2 years) which gives us an interest of ₹420 as required in the problem. Hence, this is the correct answer.

14. Find the principal if compound interest is charged
on the principal at the rate of 16⅔% per annum for two years and the sum becomes Rs.196.

Correct Answers :

[D]

Explanation :

P x 7/6 x 7/6 = 196 → P = (196 x 6 x 6)/7 x 7 = 144.

15. The SBI lent Rs.1331 to the Tata group at a compound
interest and got Rs.1728 after three years. What is the rate of interest charged if the interest
is compounded annually?.

Correct Answers :

[B]

Explanation :

1331 x 1.090909 x 1.090909 x 1.090909 = 1331 x 12/11 x 12/11 x 12/11 = 1728. Hence, the rate of compound interest is 9.09%.

16. In what time will Rs.3300 become Rs.3399 at 6% per
annum interest compounded half-yearly?

Correct Answers :

[A]

Explanation :

Since compounding is half yearly, it is clear that the rate of interest charged for 6 months would be 3% .

17. Ranjan purchased a Maruti van for ₹1,96,000 and the rate of depreciation is 14&frac27;% per annum. Find the value of the van after two years.

Correct Answers :

[B]

Explanation :

The value of the van would be 196000 x 6/7 x 6/7 = 144000

18. At what percentage per annum, will ₹10,000 amount
to 17,280 in three years? (Compound Interest being reckoned)

Correct Answers :

[A]

Explanation :

Solve through options:

17280

19. Vinay deposited ₹8000 in ICICI Bank, which
pays him 12% interest per annum compounded quarterly. What is the amount that he receives after
15 months?

Correct Answers :

[A]

Explanation :

12% per annum compounded quarterly means that
the amount would grow by 3% every 3 months.

Thus,→ 8000 8000 + 3% of 8000 = 8240 after
3 months → 8240 + 3% of 8240 = 8487.2 after 6 months and so on till five 3 month time periods get
over. It can be seen that the value would turn out to be 9274.2.

20. What is the rate of simple interest for the first 4 years
if the sum of ₹360 becomes ₹540 in 9 years and the rate of interest for the last 5 years is 6%?

Correct Answers :

[B]

Explanation :

For the last 5 years, the interest earned would be: 30% of 360 = 108. Thus, interest earned in the first 4 years would be ₹72 → ₹18 every year on an amount of ₹360- which means that the rate of interest is 5%

Simplifindit.com is just an Information based website which provides Informations about IT Certifications Offered by Technology companies like Microsoft, Cisco, Aws, Vmware, Oracle, Juniper and etc.., with Exam Details, Fees, Book Details,Training Centers, Exam Centers, Career Options, Sample Test Questions, Online tests and many more...

This website is not offering any Training for IT Certifications and it does not stored any Copyrighted materials on its server.

All rights reserverd | © simplifindit.com| Privacy Policy | Write to : Info@simplifindit.com