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AMDOCS Simple and Compound Interest Problems with Solutions Quiz-1

Question 1

Time: 00:00:00

A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest.

0.02

0.04

0.03

0.21

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Principle = 25000, so interest would be ,
Simple interest = 27250 – 25000 = 2250
Number of years = 3 years.
SI = PNR / 100
R = SI * 100 / PN
R = 2250 * 100 / 25000 * 3
.`. R = 3%.

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Question 2

Time: 00:00:00

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

625

650

631

620

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Let the sum be Rs. x. Then,
C.I. =

x

1 +
4

2
- x

=

676
x
- x

=
51
x.
100
625
625

S.I. =

x x 4 x 2

=
2x
.
100
25

51x
-
2x
= 1
625
25
x = 625.

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Question 3

Time: 00:00:00

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

Rs. 2160

Rs. 3120

Rs. 3972

Rs. 6240

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Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
R =

100 x 60

= 10% p.a.
100 x 6
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
C.I.

= Rs.

12000 x

1 +
10

3
- 1

100

= Rs.

12000 x
331

1000

= 3972.

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Question 4

Time: 00:00:00

What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?

Rs. 2.04

Rs. 3.06

Rs. 4.80

Rs. 8.30

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Question 5

Time: 00:00:00

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

2.5

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Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000

1 +
7

n
= 34347
100

107

n
=
34347
=
11449
=

107

2
100
30000
10000
100
n = 2 years.

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Question 6

Time: 00:00:00

Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

Rs. 1550

Rs. 1650

Rs. 1750

Rs. 2000

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C.I.

= Rs.

4000 x

1 +
10

2
- 4000

100

= Rs.

4000 x
11
x
11
- 4000

10
10

= Rs. 840.

Sum = Rs.

420 x 100

= Rs. 1750.
3 x 8

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Question 7

Time: 00:00:00

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

Rs. 51.25

Rs. 52

Rs. 54.25

Rs. 60

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Sum = Rs.

50 x 100

= Rs. 500.
2 x 5

Amount

= Rs.

500 x

1 +
5

2

100

= Rs.

500 x
21
x
21

20
20

= Rs. 551.25

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Question 8

Time: 00:00:00

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

Rs. 2.50

Rs. 3

Rs. 3.75

Rs. 4

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S.I. = Rs

1200 x 10 x 1

= Rs. 120.
100

C.I. = Rs.

1200 x

1 +
5

2
- 1200

= Rs. 123.
100
Difference = Rs. (123 - 120) = Rs. 3.

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Question 9

Time: 00:00:00

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

Cannot be determined

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15000 x

1 +
R

2
- 15000

-

15000 x R x 2

= 96
100
100

15000

1 +
R

2
- 1 -
2R

= 96
100
100

15000

(100 + R)2 - 10000 - (200 x R)

= 96
10000

R2 =

96 x 2

= 64
3
R = 8.
Rate = 8%.

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Question 10

Time: 00:00:00

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:

Rs. 400

Rs. 500

Rs. 600

Rs. 800

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Let the sum be Rs. P.
Then,

P

1 +
10

2
- P

= 525
100

P

11

2
- 1

= 525
10

P =

525 x 100

= 2500.
21
Sum = Rs . 2500.
So, S.I. = Rs.

2500 x 5 x 4

= Rs. 500

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["0","40","60","80","100"]

["Need more practice! \r\n","Keep trying! \r\n","Not bad! \r\n","Good work! \r\n","Perfect! \r\n"]

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