model 3 combination of si & ci Section-Wise Topic Notes With Detailed Explanation And Example Questions

MOST IMPORTANT quantitative aptitude - 6 EXERCISES

Top 10,000+ Aptitude Memory Based Exercises

The following question based on compound interest topic of quantitative aptitude

Questions : The simple interest on a certain sum of money for 2 years at 5% is Rs.1600. The compound interest at the same rate after 3 years interest compound annually, is

(a) Rs.2535

(b) Rs.2520

(c) Rs.2555

(d) Rs.2522

The correct answers to the above question in:

Answer: (d)

Principal = $\text"S.I. × 100"/\text"Time × Rate"$

= ${1600 × 100}/{5 × 2}$ = Rs.16000

C.I. = P$[(1 + R/100)^T - 1]$

= 16000$[(1 + 5/100)^3 –1]$

= 16000$[(21/20)^3 - 1]$

= $16000(9261/8000 - 1)$

= ${16000 × 1261}/8000$ = Rs.2522

Practice compound interest (model 3 combination of si & ci) Online Quiz

Discuss Form

Valid first name is required.
Please enter a valid email address.
Your genuine comment will be useful for all users! Each and every comment will be uploaded to the question after approval.

Read more combination of si and ci Based Quantitative Aptitude Questions and Answers

Question : 1

The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum, at the same rate for 2 years is Rs. 170. The rate of interest is :

a) 5$5/17$%

b) 8%

c) 12$1/2$

d) 29$1/6$%

Answer: (c)

Since, S.I. for 3 years = Rs.240

S.I. for 2 years = $240/3$× 2 = Rs.160

${PR × 2}/100$ = 160

PR = 160 × 50 = 8000...(i)

Again, C.I. - S.I. = 170 - 160 = Rs.10

${PR^2}/10000$ = 10

${8000 × R}/10000$ = 10

R = $100/8 = 25/2 = 12{1}/2$%

Question : 2

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

a) Rs.50.05

b) Rs.50.50

c) Rs.51.50

d) Rs.51.25

Answer: (d)

Principal = $\text"S.I. × 100"/ \text"Time × Rate"$

= ${50 × 100}/{2 × 5}$ = Rs.500

C.I. = P$[(1 + R/100)^T - 1]$

= 500$[(1 + 5/100)^2 - 1]$

= 500$[(1 + 1/20)^2 - 1]$

= 500$[(21/20)^2 - 1]$

= 500$(441/400 - 1)$

= ${500 × 41}/400$ = Rs.51.25

Question : 3

The compound interest on a certain sum of money at 5% per annum for 2 years is Rs.246. The simple interest on the same sum for 3 years at 6% per annum is

a) Rs.432

b) Rs.435

c) Rs.430

d) Rs.450

Answer: (a)

Using Rule 1,

C.I. = P$[(1 + R/100)^T - 1]$

246 = P$[(1 + 5/100)^2 - 1]$

246 = P$[(21/20)^2 - 1]$

246 = P$({441 - 400}/400)$

246 = ${41P}/400$

P = ${246 × 400}/41$ = Rs.2400

SI = $\text"Principal × Time × Rate"/100$

= ${2400 × 3 × 6}/100$ = Rs.432

Question : 4

There is 100% increase to an amount in 8 years, at simple interest. Find the compound interest of Rs.8000 after 2 years at the same rate of interest.

a) Rs.2125

b) Rs.2500

c) Rs.2250

d) Rs.2000

Answer: (a)

Using Rule 1,

Let S.I. = Rs.100, & Principal = Rs.100

Rate = $\text"S.I. × 100"/\text"Principal × Time"$

= ${100 × 100}/{100 × 8} = 25/2$%

C.I. = P$[(1 + r/100)^T - 1]$

= 8000$[(1 + 25/200)^2 - 1]$

= 8000 $(81/64 - 1)$

= ${8000 × 17}/64$ = Rs.2125

Question : 5

If the compound interest on a certain sum for 2 years at 3% per annum is Rs.101.50, then the simple interest on the same sum at the same rate and for the same time will be

a) Rs.98.25

b) Rs.90.00

c) Rs.100.00

d) Rs.95.50

Answer: (c)

Let the sum be P.

101.50 = P$[(1 + 3/100)^2 - 1]$

[Since, C.I. = P$[(1 + r/100)^n - 1]$]

101.50 = P$[(103/100)^2 - 1]$

=P$({10609 - 10000}/10000)$

P = Rs.${101.50 × 10000}/609 = Rs.1015000/609$

S.I. = ${1015000 × 2 × 3}/{609 × 100}$ = Rs.100

Using Rule 10,
The simple interest for a certain sum for 2 years at an annual rate interest R% is S.I., then
C.I. = S.I.$(1 + R/200)$

Here, C.I. = Rs.101.50, R = 3%, S.I. = ?

C.I. = S.I.$(1 + R/200)$

101.50 = S.I.$(1 + 3/200)$

S.I. = ${101.50 × 200}/203$ = Rs.100

Question : 6

The compound interest on a certain sum of money invested for 2 years at 5% per annum is Rs.328. The simple interest on the sum, at the same rate and for the same period will be

a) Rs.287

b) Rs.320

c) Rs.300

d) Rs.308

Answer: (b)

Let the principal be P.

C.I. = P$[(1 + R/100)^T - 1]$

328 = P$[(1 + 5/100)^2 - 1]$

328 = P$[441/400 -1]$

328 = P$[{441 - 400}/400]$

P = ${328 × 400}/41$ = Rs.3200

S.I. = ${PRT}/100 = {3200 × 5 × 2}/100$ = Rs.320

Using Rule 10,

Here, C.I. = Rs.328, R = 5%, S.I. = ?

C.I.= S.I.$(1 + R/200)$

328 = S.I.$(1 + 5/200)$

328 = S.I.$(1 + 1/40)$

S.I. = ${328 × 40}/41$

S.I. = 8 x 40 = Rs.320

Recently Added Subject & Categories For All Competitive Exams

Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024

Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam

17-May-2024 by Careericons

Continue Reading »

Syllogism Practice Questions Answers PDF - IBPS Clerk 2024

Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam

16-May-2024 by Careericons

Continue Reading »

IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers

Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download

14-May-2024 by Careericons

Continue Reading »

New Cloze Test Questions and Answers PDF - IBPS Clerk 2024

The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF

13-May-2024 by Careericons

Continue Reading »