Practice Test


Q1) A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of 1 yr. In order to clear his dues at the end of 2 yr, he would pay Show Answer


Q2) A bicycle can be purchased on cash payment of Rs. 1500. The same bicycle can also be purchased at the down payment (initial payment, at the time of purchasing) of Rs. 350 and rest can be paid in 3 equal installments of Rs. 400 for next 3 months. The rate of SI per annum charged by the dealer is Show Answer


Q3) Sanjay purchased a hotel worth Rs. 10 lakh and Barkha purchased a car worth Rs. 16 lakh. The value of hotel every year increases by 20% of the previous value and the value of car every year depreciates by 25%. What is the difference between the price of hotel and car after 3 yr? Show Answer


Q4) The population of vultures in a particular locality is decreases by a certain rate of interest (compounded annually). If the current population of vultures be 29160 and the ratio of decrease in population for second year and third year be 10 : 9. What was the population of vultures 3 yr ago? Show Answer


Q5) The compound interest on a certain sum for 2 yr is Rs. 756 and SI (Simple Interest) is Rs. 720. If the sum is invested such that the SI is Rs. 900 and the number of years is equal to the rate per cent per annum, then find the rate per cent. Show Answer


Q6) Find the amount of Rs. 2500 invested at 12% during the period from 4th February, 2005 to 18 April, 2005. Show Answer


Q7) A lends a sum of money for 10 yr at 5% SI. B lends double the amount of 5 yr at the same rate of interest. Which of the following statements is true in this regard? Show Answer


Q8) A sum of Rs. 550 was taken as a loan. This is to be paid back in two equal annual installments. If the rate of interest be 20% compounded annually, then the value of each installments is Show Answer


Q9) Mr. Lala Ram has lent some money to Aaju at 6% per annum and the Baaju at 8% per annum. At the end of the year he has gain the overall interest at 7% per annum. In what ratio has he lent the money to Aaju and Baaju? Show Answer


Q10) Rs. 3500 was lent partly at the rate 4% and partly at the rate 6% SI. The total interest received after 3 yr is Rs. 498. What is the amount lent at the rate 4% SI? Show Answer


Q11) A sum of Rs. 2400 deposited at CI, doubled after 5 yr. After 20 yr it will become Show Answer


Q12) Amit borrowed Rs. 800 at 10% rate of interest. He repaid Rs. 400 at the end of first year. What is the amount required to pay at the end of second year to discharge his loan which was calculated at simple interest? Show Answer


Q13) What annual payment will discharge a debt of Rs. 580 in 5 yr, the rate being 8% per annum? Show Answer


Q14) The difference between CI and SI on a sum of money lent for 2 yr at 10% is Rs. 40. The sum is Show Answer


Q15) A sonata watch is sold for Rs. 440 cash or for Rs. 200 cash down payment together with Rs. 244 to be paid after one month. Find the rate of interest charged in the installment scheme. Show Answer


Q16) The least number of complete years in which a sum of money put at 20% CI will be more than doubled is Show Answer


Q17) The CI on Rs. 5000 for 3 yr at 8% for first year, 10% for second year and 12% for third year will be Show Answer


Q18) Ajay takes some loan from Rashmi at the rate of 5% per annum and after 2 yr, Ajay gave back Rs. 8800 to Rashmi and this way paid his whole loan. Find the interest paid by Ajay. Show Answer


Q19) At simple interest, a sum becomes 3 times in 20 yr. Find the time in which the sum will be double at the same rate of interest? Show Answer


Q20) A certain sum becomes 3 fold at 4% annual rate of interest. At what rate, it will become 6 fold? Show Answer


Q21) Suresh borrowed Rs. 800 at 6% and Naresh borrowed Rs. 600 at 10%. After how much time, will they both have equal debts? Show Answer


Q22) A certain sum of money lent at simple interest amount to Rs. 616 in 3 yr and to Rs. 700 in 5 yr. Find the rate per cent. Show Answer


Q23) The difference between simple interest of 12% per annum and compound interest of 12% per annum compounded half yearly on a sum of Rs. 3000 in one year is Show Answer


Q24) If a sum of money at a certain rate of simple interest doubles in 5 yr and at a different rate of interest becomes three times in 12 yr, the better rate of interest is Show Answer


Q25) A sum of money lent out at simple interest amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. Find the sum of and the rate %. Show Answer


Q26) A sum was put at simple interest at a certain rate for 4 years. Had it been put at 2% higher rate, it would have fetched Rs. 56 more. Find the sum. Show Answer


Q27) Simple interest on a certain sum is 16 over 25 of the sum. Find the rate per cent and time, if both are equal. Show Answer


Q28) A father left a will of Rs. 68,000 to be divided between his two sons aged 10 years and 12 years such that they may get equal amount when each attains the age of 18 years if the money is reckoned at 10% p.a., find how much each gets at the time of the will. Show Answer


Q29) If there are three sum of money P, Q and R so that P is the simple interest of Q and Q is the simple interest of R, are r% and time are same in each case, then the relation of P, Q and R is given by Show Answer


Q30) In how many minimum number of complete years, the interest on Rs. 212.50 P at 3% per annum will be in exact number of rupees? Show Answer


Q31) A milk man borrowed Rs. 2,500 from two money lende for one loan, he paid 5% p.a. and for the other, he paid 7% p.a. The total interest paid for two years was Rs. 275. How much did he borrow at 7% rate? Show Answer


Q32) What annual installment will discharge a debt of Rs. 4,200 due in 5 years at 10% simple interest? Show Answer


Q33) Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years, and at the rate of 14% p.a. for the period beyond five years. If he pays a total interest of Rs. 11,400 at the end of nine years, how much money did he borrow? Show Answer


Q34) A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned? Show Answer


Q35) What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years? Show Answer


Q36) Two equal sums of money were invested, one at 4% and the other at 4.5%. At the end of 7 years, the simple interest received from the latter exceeded to that received from the former by Rs. 31.50. Each sum was Show Answer


Q37) Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow? Show Answer


Q38) An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes Show Answer


Q39) A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is Show Answer


Q40) A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest? Show Answer


Q41) The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is Show Answer


Q42) The rates of simple interest in two banks A and B are in the ratio 5 : 4. A person wants to deposit his total savings in two banks in such a way that he received equal half-yearly interest from both. He should deposit the savings in banks A and B in the ratio. Show Answer


Q43) The price of a T.V set worth Rs. 20,000 is to paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be : Show Answer


Q44) Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B? Show Answer


Q45) David invested certain amount in three different Schemes A, B and C with the rate of interest 10% p.a., 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs. 3200 and the amount invested in Scheme C was 150% of the amount invested in Scheme A and 240% of the amount invested in Scheme B, what was the amount invested in Scheme B? Show Answer


Q46) A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interests in all the three cases. The money invested at 4% is Show Answer


Q47) Divide Rs. 2379 into 3 parts so that their amounts after 2, 3 and 4 years respectively may be equal, the rate of interest being 5% per annum at simple interest. The first part is Show Answer


Q48) A man invested Rs. 3000 at a rate of 5% per annum. How much more should he invest at a rate of 8%, so that he can earn a total of 6% per annum? Show Answer


Q49) Two equal sums of money are lent at the same time at 8% and 7% per annum simple interest. The former is recovered 6 months earlier than the later and the amount in each case is Rs. 2560. The sum and the time for which the sum of money were lent out are Show Answer


Q50) Peter invested an amount of Rs. 12,000 at the rate of 10% p.a. simple interest and another amount at the rate of 20% p.a. simple interest. The total interest earned at the end of one year on the total amount invested became 14% p.a. Find the total amount invested? Show Answer


Q51) Rajesh gave Rs. 1200 on loan. Some amount he gave at 4% per annum simple interest and remaining at 5% per annum simple interest. After two years, he got Rs. 110 as interest. Then the amounts given at 4% and 5% per annum simple interest are respectively. Show Answer


Q52) If the difference between S.I. and C.I. for 2 years on a sum of money lent at 5% is Rs. 6, then the sum B. Show Answer


Q53) Zovo got a loan of Rs. 8,000 against his fixed deposit to purchase a scooter. If the rate of interest is 10% p.a. compounded half yearly. Find the amount that he pays after one and half year. Show Answer


Q54) A sum of money placed at compound interest doubles itself in 5 years. Find in how many years it will become 8 times. Show Answer


Q55) The C.I. on a certain sum of money for the 4th year at 8% p.a. is Rs. 486. What was the compound interest for the third year on the same sum at the same rate? Show Answer


Q56) A sum amounts double in 8 years by simple interest. Then the rate of simple interest p.a. is Show Answer


Q57) A man borrowed some money from a private organization at 5% simple interest per annum. He lended 50% of this money to another person at 10% compound interest per annum and thereby the man made a profit of Rs. 13,205 in 4 years. The man borrowed Show Answer


Q58) Two equal sums were borrowed at 8% simple interest per annum for 2 years and 3 years respectively. The difference in the interest was Rs. 56. The sum borrowed were Show Answer


Q59) The difference between the C.I. (Compound Interest) and S.I. (Simple Interest) on a sum of Rs. 4,000 for 2 years at 5% p.a. payable yearly is Show Answer