Compound Interest - Aptitude Questions and Answers Part 3

11. Ramesh invests Rs 10,200/- separately in two new schemes. Scheme-1 gives him a compound interest at the rate of 10% for two years. Scheme-2 provides him a simple interest at the rate of 5% for 6 years. The interest he earns from both the schemes is equal. Find the amount he invests at simple interest.

a. Rs. 4200
b. Rs. 4800
c. Rs. 5800
d. Rs. 6000

Answer: a. Rs. 4200

12. A person has a debt of Rs 1025/- which he want to pay off completely in 2 years. The compound interest is charged at 5%.  What annual payment should he make?

a. Rs. 550
b. Rs. 551.25
c. Rs. 560
d. Rs. 560.75

Answer: b. Rs. 551.25

13. A student saves Rs 200/- by the December of each year and lends it at 5% compound interest to hostel mates. How much money will he have at the end of three years?

a. Rs. 565.25
b. Rs. 635
c. Rs. 662.02
d. Rs. 666.50

Answer: c. Rs. 662.02

14. Find the Principal that would work out to Rs 4913/- if compounded annually at the rate of 25/4 %.

a. Rs. 3096
b. Rs. 4076
c. Rs. 4085
d. Rs. 4096

Answer: d. Rs. 4096

15. Given:

Simple interest rate: 10% per annum
Compound interest rate: X% compounded half yearly.

If the difference between the simple interest and compound interest on a sum for 2 years is Rs 124.05/-. Find the principal sum.

a. Rs. 6000
b. Rs. 8000
c. Rs. 10,000
d. Rs. 12,000

Answer: b. Rs. 8000