Dear Readers, SBI is conducting Online preliminary Examination for the recruitment of Clerical Cadre. preliminary Examination of SBI Clerk was scheduled from June/July. To enrich your preparation here we have providing new series of Compound Interest – Quantitative Aptitude Questions. Candidates those who are appearing in SBI Clerk Prelims Exam can practice these Quantitative Aptitude average questions daily and make your preparation effective.
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1) Find the C.I accrued by Nandhini from a bank on Rs. 24500 in 2 years, when the rates of interest for successive years are 8%, and 10% respectively.
2) If the S.I on a sum of money for 2 years at 10% per annum is Rs. 100, what is the C.I on the same at the same rate and for the same time?
4) In what time will Rs.8000 become Rs.9261 at 5% per annum compounded annually?
6) Find CI on Rs.15250 at 14% per annum for 2 years 6 months, compound annually.
7) Split the approximate amount of Rs. 1762 between ashok and anirudh, so that the amount of ashok after 5 years is equal to the amount of Anirudh after 7 years, the interest being compound at 5% per annum.
8) A sum of cash 4 times itself at compound interest in 20 years. In how many years will it become 16 times?
9) Renuka invested Rs.7500 at 20% per annum for 1 year. If the interest is compounded half – yearly, then the amount received by renuka at the end of the year.
10) Aruna borrows Rs.6250 from geetha at 10% CI. At the end of every year she pays Rs.1000 as part repayment. How much does she still over after 3 such installments?
Answers:
1) Answer D
For the first year:
Principal = Rs. 24500
Rate of interest = 8% and
Time = 1 year
Therefore, interest for the first year = P×R×T/100
=24500*8*1/100
=196000/100
=RS 1960
Therefore, the amount after 1 year = Principal + Interest
= Rs. 24500+1960
=Rs. 26460
For the second year, the new principal is Rs. 26460
Rate of interest = 10% and
Time = 1 year.
Therefore, the interest for the second year
=26460*10*1/100
=264600/100
=RS 2646
Therefore, the amount after 2 year = Principal + Interest
=26460+2646
=Rs. 29,106
Therefore, the compound interest accrued = Final amount – Initial principal
=29106-24500
=Rs. 4606
2) Answer D
SI=PTR/100
P=100*SI/TR
=100*100/20
=500
Amount = (p*(1+R/100)n)
=500(1+10/100)2
= 500(110/100)2
=500(11/10)2
=500*11/10*11/10
=60500/100
=RS 605
CI=Rs (605-500)
=Rs. 105
P = 3000
R = 7%
CI=4347
Total amount = 34347
T=?
Amount = P [(1 +(R /100))n]
34347 = 30000[1 + (7 / 100)n] [34347 / 30000] = (107 / 100)n
11449 / 10000 =(107 / 100)n
(107 * 107) / (100 * 100) = (107 / 100)n
(107 / 100)2 =(107 / 100)n
:. T = 2 yr
4) Answer A
Principal = Rs.8000;
Amount = Rs.9261;
Rate = Rs.5% p.a.
Let the time be n years then,
A=P(1+R/100)n
9261=8000(1+5/100)n
9261/8000 = (105/100)n
9261/8000 = (21/20)n
(21/20)3=(21/20)n
n=3 years
31250 = P [ 1 + (25 / 100) ]5
31250 = P (125 / 100)5
31250 (4 / 5)5 = P
P = (31250 × 16 × 16 × 4) / (25 × 25 × 5) = Rs. 10240
6) Answer B
Given time = 2yrs 6 months
= 6/12 = 2 ½ yrs
Amount = P (1+R/100)2 (1+ (1/2R)/100)
=Rs [15250 (1+ (14/100))2 (1+7/100)]
=Rs [15250 (114/100)(114/100)(107/100)]
=Rs(15250 * 1.14 * 1.14 * 1.07)
=Rs.21206.223
Compound interest = Rs. (21206.223 – 15250)
=Rs.5956.223
7) Answer D
Let the two parts Rs.x and Rs.(1762 – x)
X(1+5/100)5 = (1762 – x)(1+5/100)7
x/1762 – x = (1+5/100)7 / (1+5/100)5
x / 1762 – x = (1+5/100)2
x / 1762 – x = (105/100)2
x / 1762 –x = (21/20)2
x / 1762 – x = 21*21/20*10 = 441/400
400x = 441(1762 – x)
400x = 777042 – 441x
841x = 777042
X = 923.9 = 924
So the 2 parts are Rs.924 and 838
8) Answer A
By using given condition,
P(1+R/100)20 = 4P
(1+R / 100)20 = 4
(1+R/100)20 = 22 ————>1
Let P (1 +R/100)n = 16P
(1+R/100)n = 16 = 24 —————->2
Using (1)
(1+R / 100)n = (1+R /100)40
N=40
Thus required time = 40 years
(or)
Let us assume, the amount as 100
100 ——–> 400
(20 yr)
400 ——–> 1600
(20 yr)
16 times will be in 40 years.
9) Answer C
P= Rs.7500 R=20% per annum
R=10% per half year, T=1, Y = 2 half year
Amount = (1+R/100)n
=7500(1+10/100)2
=7500(110/100)2
=7500(11/10*11/10)
=75*11*11
=Rs.9075
10) Answer C
6250*(10/100) = 625
(6250+625) -1000 = 5875
5875*(10/100) = 587.5
(5875+587.5) -1000 = 5462.5
5462.5*(10/100) = 546.25
(5462.5+546.25)-1000 = 5008.75
This post was last modified on April 13, 2019 5:22 pm