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

MOST IMPORTANT quantitative aptitude - 6 EXERCISES

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The following question based on compound interest topic of quantitative aptitude

Questions : The compound interest on a certain sum of money for 2 years at 10% per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be

(a) Rs.400

(b) Rs.350

(c) Rs.380

(d) Rs.375

The correct answers to the above question in:

Answer: (a)

If the principal be P then

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

420 = P$[(1 + 10/100)^2 - 1]$

420 = P$({121 - 100}/100)$

420 = ${P × 21}/100$

P = ${420 × 100}/21$ = Rs.2000

S.I. = ${PRT}/100 = {2000 × 10 × 2}/100$ = Rs.400

Using Rule 10,

Here, C.I. = Rs.420, R = 10%, S.I. = ?

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

420 = S.I.$(1 + 10/200)$

420 = S.I.$(210/200)$

S.I. = ${420 × 200}/210$ = Rs.400

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

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

Question : 1

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

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