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7
5

16. SIMPLE INTEREST/COMPOUND INTEREST


Max. Marks : 30
1.

2.

3.

4.

5.

6.

No. of Qs. 30

Time : 20 min.

The simple interest accrued on a sum of certain principal is


` 2000 in five years at the rate of 4% per annum. What would
be the compound interest accrued on same principal at same
rate in two years ?
(a) ` 716
(b) ` 724
(c) ` 824
(d) ` 816
(e) None of these
What total amount would Mithilesh get at the end of three
years if he invests an amount of ` 11200 in a scheme, which
offers simple interest 8.5% per annum for three years ?
(a) ` 14056
(b) ` 14348
(c) ` 13852
(d) ` 15064
(e) None of these
Arun invested a sum of money at a certain rate of simple
interest for a period of for a period of four years. Had he
invested the same sum for a period of six years the total
interest earned by him would have been fifty per cent more
than the earlier interest amount. What was the rate of interest
per cent per annum?
(a) 4
(b) 8
(c) 5
(d) Cannot be determined
(e) None of these
Rohit invested some amount at the rate of 6 pcpa and at the
end of 2 yr he got ` 8730 simple interest. How much
compound interest he will get on same amount and same
rate of interest after 2 yr.
(a) ` 5820
(b) ` 5949.60
(c) ` 5900
(d) ` 5994.60
(e) None of these
What amount a man would have received on a principal of
` 4000 after two yr simple interest @ 5% per annum ?
(a) ` 4161
(b) ` 5200
(c) ` 4410
(d) ` 4100
(e) ` 4190
The simple interest accrued on an amount of ` 27500 at the
end of three years is ` 10230. What would be the approximate
compound interest accrued on the same amount at the same
rate in the same period ?

RESPONSE
GRID

1.
6.
11.

c d

c d

c d

2.
7.
12.

c d

c d

c d

(a) ` 11550
(b) ` 12620
(c) ` 10950
(d) ` 11900
(e) ` 13500
The simple interest accrued on an amount of ` 84000 at the
end of 3 yr is ` 30240. What would be the compound interest
accrued on the same amount at the same rate in the same
period ?
(a) ` 30013.95
(b) ` 31013.95
(c) ` 32013.95
(d) ` 33013.95
(e) ` 34013.95
Kruti took a loan at a simple interest rate of 6% in the first
year with an increase of 0.5% in each subsequent year. She
paid interest of ` 3375 after four years. How much loan did
she take ?
(a) ` 12500
(b) ` 33140
(c) ` 15800
(d) Cannot be determined
(e) None of these
The simple interest accrued on an amount of ` 40000 at the
end of three years ` 12000. What would be the compound
interest accrued on the same amount at the same rate in the
same period ?
(a) ` 18765
(b) ` 15350
(c) ` 21555
(d) ` 13240
(e) None of these
Vishwas borrowed a total amount of ` 30000, part of it on
simple interest rate of 12% per annum and remaining on
simple interest rate of 10% per annum. If at the end of 2 yr he
paid in all ` 36480 to settle the loan amount, what was the
amount borrowed at 12% pre annum ?
(a) ` 16000
(b) ` 18000
(c) ` 17500
(d) ` 12000
(e) None of these
The simple interest accrued on an amount of ` 17000 at the
end of four years is ` 6800. What would be the compound
interest accrued on the same amount at the same rate in the
same period ?
(a) ` 7889.7
(b) ` 8324
(c) ` 6990.5
(d) Cannot be determined
(e) None of these

7.

8.

9.

10.

11.

3.
8.
13.

Date : ........./......../................

c d

c d

c d

4.
9.
14.

c d

c d

c d

5.
10.
15.

c d

c d

c d

32
12.

13.

A sum of Rs. 2600 is lent out in two parts in such a way that
the interest on one part at 10% for 5 years is equal to that on
the other part at 9% for 6 years. The sum lent out at 10% is
________ .
(a) 1250
(b) 1350
(c) 1450
(d) 1550
(e) 1650
The simple interest on a sum of money is

1
th of the principal
16

20.

21.

and the number of years is equal to the rate per cent per
annum. The rate per cent annum is ________ .
(a)

1
%
4

1
6 %
3

(b)

(c)

1
6 %
5

22.

1
1
4 %
(e) 7 %
5
7
A sum of money will double itself in 16 years at simple interest
at in yearly rate of ________ .

(d)

14.

1
(b) 11 %
2

1
(a) 13 %
2

15.

16.

17.

18.

19.

(c)

1
10 %
2

23.

1
1
(d) 9 %
(e) 11 %
2
7
At a certain rate of simple interest, a certain sum doubles
itself in 10 years. It will treble itself in years ________ .
(a) 10
(b) 20
(c) 25
(d) 30
(e) 45
The difference between the interest received from two
different banks on ` 500 for 2 years is ` 2.50. The difference
between their rates is _______ .
(a) 1%
(b) 2%
(c) 0.5%
(d) 0.25%
(e) 1.5%
Some amount out of ` 7000 was lent at 6% per annum and
the remaining at 4% per annum. If the total simple interest
from both the fractions in 5 yrs. was ` 1600, find the sum lent
at 6% per annum.
(a) 1500
(b) 2000
(c) 2500
(d) 3000
(e) 5000
A sum of money at simple interest amounts to ` 600 in 4
years and ` 650 in 6 years. Find the rate of interest per annum.
(a) 3%
(b) 5%
(c) 9%
(d) 10%
(e) 15%
Arun and Ramu are friends. Arun borrowed a sum of ` 400 at
5% per annum simple interest from Ramu. He returns the
amount with interest after 2 years. Ramu returns to Arun 2%
of the total amount returned. How much did Arun receive ?
(a) 9
(b) 8.80
(c) 7.5
(d) 7
(e) 10.5

RESPONSE
GRID

16.
21.
26.
31.

c d

c d

c d

c d

17.
22.
27.
32.

c d

c d

c d

c d

24.

25.

26.

27.

28.

18.
23.
28.
33.

A person lent at certain sum of money at 4% simple interest;


and in 8 years the interest amounted to ` 340 less than the
sum lent. Find the sum lent.
(a) 500
(b) 600
(c) 1000
(d) 1500
(e) 1700
Sonika invested an amount of ` 5800 for 2 years. At what
rate of compound interest will she get an amount of ` 594.5
at the end of two years ?
(a) 5 p.c.p.a.
(b) 4 p.c.p.a.
(c) 6 p.c.p.a.
(d) 8 p.c.p.a.
(e) None of these
The compound interest earned by Suresh on a certain
amount at the end of two years at the rate of 8 p.c.p.a. was `
1414.4. What was the total amount that Suresh got back at
the end of two years in the form of principal plus interest
earned ?
(a) ` 9414.4
(b) ` 9914.4
(c) ` 9014.4
(d) ` 8914.4
(e) None of these
What would be the compound interest accrued on an amount
of ` 7400 @ 13.5 p.c.p.a. at the end of two years ?
(Rounded off to two digits after decimal)
(a) ` 2136.87
(b) ` 2306.81
(c) ` 2032.18
(d) ` 2132.87
(e) None of these
If the compound interest accrued on an amount of ` 14500
in two years is ` 4676.25, what is the rate of interest p.c.p.a ?
(a) 11
(b) 9
(c) 15
(d) 18
(e) None of these
What would be the compound interest accrued on a amount
of ` 8000 at the rate of 15% per annum in three years ?
(a) ` 4283
(b) ` 4051
(c) ` 4167
(d) ` 4325
(e) None of these
What would be the compound interest accrued on an amount
of ` 7850 at the rate of 14% per annum in two years ?
(a) ` 2351.86
(b) ` 2880.37
(c) ` 2518.22
(d) ` 2290.23
(e) ` 34013.95
What will be the compound interest accrued on an amount
of ` 10000 @ per annum in two years if the interest is
compounded half-yearly ?
(a) ` 4400
(b) ` 4600
(c) ` 4641
(d) ` 4680
(e) None of these
What will be the difference between the simple interest and
compound interest earned on a sum of ` 985.00 at the rate of
14% per annum at the end of two years ?
(a) ` 16.408
(b) ` 14.214
(c) ` 19.218
(d) ` 17.405
(e) None of these
a

c d

c d

c d

c d

19.
24.
29.
34.

c d

c d

c d

c d

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20.
25.
30.
35.

c d

c d

c d

c d

33
29.

30.

31.

32.

The simple interest on a certain sum of money for 4 years at


4 per cent per annum exceeds the compound interest on the
same sum for 3 years at 5 per cent annum by ` 57. Find the
sum.
(a) 24000
(b) 25000
(c) 26000
(d) 3000
(e) 40000
A sum of money at compound interest amounts in two years
to ` 2809, and in three years to ` 2977.54. Find the rate of
interest and the original sum.
(a) 2000
(b) 2100
(c) 2200
(d) 2500
(e) 3000
A sum is invested at compound interest payable annually.
The interest in two successive years was ` 225 and ` 236.25.
Find the rate of interest.
(a) 2%
(b) 3%
(c) 5%
(d) 9%
(e) 11%
A merchant commences with a certain capital and gains
annually at the rate of 25 p.c. At the end of 3 years he has
` 10,000. What was his original capital ?
(a) 5120
(b) 5353
(c) 5456
(d) 5657
(e) 5757

33.

In what timewill 6250amount to ` 6632.55 at 4 p.c. compound


interest payable half-yearly?
(a)

3
5

(b)

3
2

(c)

3
4

5
9
(e)
2
11
What sum of money at compound interest will amount to
` 2249.52 in 3 years if the rate of interest is 3% for the first
year, 4% for the second year, and 5% for the third year?
(a) 2000
(b) 4000
(c) 3000
(d) 5000
(e) 7000
If the simple interest on a certain sum of money for 3 years at
5% is ` 150, find the corresponding CI.
(a) 197
(b) 157.62
(c) 137.36
(d) 117.17
(e) 127.34

(d)

34.

35.

SOLUTIONS
1.

(d)

P 4 5
100
\ P = 10000

12.4 3
112.4 3
= 27500 1 +
1
- 1 =27500
100
100

2000 =

4
Now, CI = 10000 1 +
- 1 = 10000 0.0816 = 816
100

1120 8.5 3
= 11200 + 2856 = 14056
100

2.

(a)

Amount = 11200 +

3.

(d)

In question principle and simple interests are not given.

(d)

8730 100
= 48500
Principle =
6 3

4.

112.4 112.4 11.24 - 100


100 100

= 27500
100 100 100

1420034.624 - 1000000
= 27500

1000000

420034.624
= 27500

1000000

6
Compound Interest = 48500 1 +
- 1
100

= 48500 0.1236 = ` 5994.60


5.

(c)

A = P 1 +

100

= 4000

6.

(a)

= 4000 1 +

100

21 21

= ` 4410
20 20

10230 100
S.I 100
=
= 12.4%p.q.
R=
27500 3
PT
t

r
CI = P 1 +
- 1
100

= 27500 0.42 = `11550


7.

(e)

Rate per annum =

30240 100
% = 12%
84000 3

12
\ Compound Interest = 84000 1 +
- 1
100

28 3
3
= 84000 1 + - 1 = 84000 - 1
25

25

28 28 28
-25 25 25
= 84000 21952 - 15625
= 84000

25 25 25
15625

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34
= 84000
8.

(a)

6327
= ` 34013.95
15625

or, r2 =

x
27 = 3375
100
(d)

12000 100
R=
40000 3

x=

3375 100
= ` 12500
27

15. (d)

It dobles in 10 yrs.
Then trebles in 20 yrs.
Quicker Maths :

16. (d)

17. (b)

or,

Suppose at the rate of 12% p.a. he borrowed ` x.


18. (b)

48000
= ` 12000
4

r
25 = 600 ; or,
3r 650
1+
50
1+

13. (a)
\

or,

17000 4641
= ` 7889.7
10000

Ratio of two parts = r2 t2 : r1 t1 = 54 : 50 = 27 : 25

2600
27 = ` 1350
52

19. (b)

S S r r
=
16
100

...(2)

20. (a)

(25 + r ) 2 12
=
50 + 3r
13

(25 + r ) 2 12
=
50 3r
13

or, (50 + 2r) 13 = (50 + 3r) 12


or, 650 + 26r = 600 + 36r; or, 10r = 50
\ r = 5%
Afte 2 years, amount returned to Ramu
= 400 +

Let the rate of interest = r %


times = r years
Now,

A r 6
= 650 ;
100

Dividing (1) by (2), we have

14641 10000
= 17000

10000

Sum lent out at 10% =

...(1)

3r
or, A 1 + = 650
50

11 111111 10 10 10 10
= 17000

10 10 10 10

A+ r4
= 600 ;
100

Ar
= 600
25

And, A +

11 4
10
C.I. = 17000 1 +
- 1 = 17000 - 1
100

40

12. (b)

\ x = 16000 14000 = ` 2000


Suppose the rate of interest = r% and the sum = ` A

or, A 1 + = 600
25

6800 100
= 10%
R=
17000 4

2.5 100
= 0.25%
2 500

3 x + 14,000 - 2 x
= 1600
10

or, A +

6480 100 = 24x + 600000 20x


648000 600000
4x = 648000 600000 = 48000

11. (a)

x=

x 6 5 (7000 - x ) 4 5
+
= 1600
100
100

Now, A +

24 x 600000 20 x
+
6480 =
100
100

x=

3 x 7000 x
+
= 1600
10
5

31
= 40000
= 40 331 = ` 13240
1000

x 12 2 (30000 x ) 10 2
+
100
100

2.5 100
2 x

Suppose ` x was lent at 6% per annum.


Thus,

11 3
1331 - 1000
= 40000 - 1 = 40000

10

1000

36480 30000 =

Difference in Interest 100


Times Difference in rates

or, 500 =

25
1
=6 %
4
4

100(2 - 1)
1
= 12 %
16
2

Rate of interest =

Sum =

r
10
CI = P 1 +
- 1 = 40000 1 +
- 1
100
100

r=

14. (d)

S.I. 100

R = P T = 10%

10. (d)

Suppose the principle is ` x.

6.5 7.0 7.5


6
x
+
+
+
= 3375
100 100 100 100

9.

100
16

400 5 2
= ` 440
100

Amount returned to Arun = 2% of ` 440 = ` 8.80


Let the sum be ` x.

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35
\ Interest =

x-

x 8 4 32 x
=
100
100

32 x 68 x
=
100 100

When interest is

68 x
less, the sum is ` x.
100

\ when interest is 340 less, the sum is

21. (a)

1.1025 =

(100 + r )2
10000

25. (c)

4676.25 14500
r
= 1 +

14500
100

19176.25
r
= 1+

14500
100

13225
r
= 1+
10000
100

So A = P + SI = 8500 + 1414.40 = ` 9914.40

11529
51529 - 40000
= 7400
= 7400

40000
40000

= 2132.865 = ` 2132.87
T

r
C. I. 1 +
- 1
100

r
4676.25 = 14500 1 + 100 - 1

1.3225 = 1 +

115
r
r
115
= 1+
=
-1

100
100
100 100

r
115 - 100
r
115
=
=

100
100
100 100

r
100

3
n

15
R
C. I. = P 1 +
- 1 = 8000 1 + 100 - 1

100

26. (a)

27
Compound interest = 7400 1 +
- 1
200

227 2
227 227 - 200 200
= 7400
- 1 = 7400

200 200
200

23 23 23 - 20 20 20
= 8000

20 20 20

1414.40 = P [1.1664 1]

1414.40
= ` 8500
0.1664

115 3
23 3
= 8000
- 1 = 8000 - 1
100
20

8
1414.40 = P 1 +
- 1
100

24. (c)

4676.25
r

+ 1 = 1 +

14500
100

r = 15%

r
P

1
+

- 1
\ Compound interest =
100

23. (d)

1.1025 10000 = (100 + r)2.


11025 = (100 + r)2.
105 = 100 + r
r = 5%
Suppose principle is P

P=

4676.25
r
= 1 +
-1
14500 100

x
100 340 = ` 500
68x

2
2

594.5
r
r
= 1 +
594.5 = 5800 1 +
- 1 =
-1
100
5800 100

0.1025 + 1 = 1 +

100

22. (b)

8000
(12167 - 8000 ) = ` 4167
8000

r
CI = P 1 +
- 1
100

1.14 2
114 2
= 7850 1 +
- 1 = 7850 100 - 1

100

27. (c)

= 7850 [(1.14)2 1] = 7850 [1.2996 1]


= 7850 [0.2996] = ` 2351.86
Compound interest accrued half-yearly.
R = 20% yearly = 10% half-yearly
n = 2 years = 4 half-yearly
n

r
CI = P 1 +
- 1
100

11 4
10
1

10000
- 1
= 10000 1 +
=

100

10

11 11 11 11 - 10 10 10 10
= 10000

10 10 10 10

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36
4641
14641 - 1000
= 10000
= 10000 10000 = ` 4641

10000
28. (e)

2
14
R
Required difference = P
= 985 100
100

= 985
29. (a)

33. (b)

196
= 19.306
10000

Then,

x44
5
- 57 = x 1 +
- 1
100

100

{ }

or,

663255 51
=
625000 50

or,

132651 51 51
= =
125000 50 50

t=3

t 3
=
2 2
The general formula for such question is :

Hence, the time is


34. (a)

4 1261
or, x = 57
25 8000

r
r
r

A = P 1 + 1 1 + 2 1 + 3 ...
100 100 100

1280 - 1261
= 57
or, x
8000

where A = Amount, P = Principal and r1, r2, r3 are the rates


of interest for different years.

3
4
5

2249.52 = P 1 +
1 +
1 +

100 100 100

57 8000
= ` 24000
\ x=
19
Difference in amounts = 2977.54 2809 = ` 168.54
Now, we see that ` 168.54 is the interest on ` 2809 in one
year (it is either simple or compound interest because both
are the same for a year).
Hence, rate of interest =

168.54 100
= 6%
2809

Now, for the original sum,

2809 = x 1 +

100

53
or, 2809 = x
50
\

32. (a)

6632.55 51
=
625000 50

4x
1261
- 57 = x
or,
25
8000

31. (c)

or,

Let the sum be ` x.


3

30. (d)

6632.55 = 6250 1 +

100

x=

\ P=
35. (a)

SI =

2809 50 50
= ` 2500
53 53

25

10000 = x 1 +

100

rt
CI
r

r
100 1 +
1

100

150 =

2249.52
= ` 2000
1.03 1.04 1.05

Whenever the relationship between CI and SI is asked for 3


years of time, we use the formula:

Difference in interest = 236.25 225 = ` 11.25


This difference is the simple interest over ` 225 for one year.
11.25 100
= 5%
Hence, rate of interest =
225 1
Now, since any particular number of years is not mentioned,
we cannot find the sum.

or, 2249.52 = P(1.03) (1.04) (1.05)

5 3
CI
3

r
100 1 +
- 1
100

9261 - 8000
150 100
8000
CI =
5 3
=

150 100 1261 1261


=
= ` 157.62
5 3 8000
8

10000 4 4 4
= ` 5120
5 5 5

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