Simple Interest / Compound Interest - Quantitative Aptitude Questions with Answers

Answer: Option [B]

The formula to calculate simple interest is :

SI=(P x T x R)/100

In the given question Principal(P)=Rs. 14000, Time(T)=(3/12)yr. and Rate of interest(R)=10%

So, SI=(14000 x 1/4 x 10)/100

=SI= Rs. 350

Answer: Option [A]

Let the initial amount be Rs. 100

It will be double. That means Rs. 200

The simple will be Rs. (200-100)= Rs. 100

We can calculate the time from the formula given below :

T=(SIx100)/(PxR)

T=(100x100)/(100x7)

T=14.28 Yr

Answer: Option [B]

Let the initial amount be Rs.100

After 2 Yrs. the sum will be Rs.140

Calculated SI is Rs.40

Now we can calculate the rate of interest from the formula given below :

R=(SIx100)/(PxT)

R=(40x100)/(100x2)

R=20%

Answer: Option [B]

P = ₹ 16500

R% = 14% per annum

n = 3years

A = p(1+R/100)ⁿ

A = 16500(1+14/100)²

A = ₹ (16500 x 114/100 x 114/100)

A = ₹ 21443.4

CI = ₹ (A - P)

CI = ₹ (21443.40-16500.00)

CI = ₹ 4943.40

Answer: Option [C]

SI = ₹ 15300

P = ₹ 45000

T = 4 yrs.

R% = (SIx100/PxT)

R% = (15300x100/45000x4)

R% = 8.5% per annum

Now we can calculate the Compound interest from above data.

CI(compound interest) = A-P

Now we calculate A = P(1+R/100)ⁿ

A = 45000(1+8.5/100)⁴

A = ₹ 62363

CI = A - P

CI = ₹ (62363 - 45000)

₹ 17363