Aptitude Solved Questions

Compound Interest
1) If Rs.7500 are borrowed at C.I at the rate of 4% per annum, then after 2 years the amount to be paid is?
Answer: Rs.8112
Explanation:
A = 7500(26/25)2
= 8112

2) The difference between C.I. and S.I. on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of
interest per annum?
Answer: 8
Explanation:
[15000 * (1 + R/100)2 - 15000] - (15000 * R * 2)/100 = 96
15000[(1 + R/100)2 - 1 - 2R/100] = 96
15000[(100 + R)2 - 10000 - 200R]/10000 = 96
R2 = (96 * 2)/3 = 64 => R = 8
Rate = 8%

3) A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% C.I.
The sum borrowed was?
Answer: Rs. 1640
Explanation:
Principal = (P.W. of Rs. 882 due 1 year hence) + (P.W. of Rs. 882 due 2 years hence)
= [882/(1 + 5/100) + 882/(1 + 5/100)2]
= (882 * 20)/21 + (882 * 400)/441
= Rs. 1640.

4) The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period(in years) is?
Answer: 2
Explanation:
Amount = (30000 + 4347) = Rs. 34347
Let the time be n years. Then,
30000(1 + 7/100)n = 34347
= (107/100)n = 34347/30000 = (107/100)2
n = 2 years.

5) What sum(principal) will be amount to Rs.34536.39 at compound interest in 3 years, the rate of interest
for 1st, 2nd and 3rd year being 5%, 6% and 7% respectively?
Answer: Rs.29000
Explanation:
Let Rs.P be the required sum.
34536.39 = p(1 + 5/100)(1 + 6/100)(1 + 7/100)
= p (105/100) x (106/100) x (107/100)
p = 34536.39 x 100 x 100 x 100 / 105 x 106 x 107
p = Rs.29000
Hence the required amount is Rs.29000

6) What will be the amount if sum of Rs.10,00,000 is invested at compound interest for 3 years with rate of
interest 11%, 12% and 13% respectively?
Answer :Rs.14,04,816
Explanation:

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Here, P = Rs.10,00,000 R1 = 11 R2 = 12 R3 = 13.
Therefore, Amount after 3 years
= p(1 + R1/100)(1 + R2/100)(1 + R3/100)
= 10,00,000 x(1 + 11/100)x(1 + 12/100)x(1 + 13/100)
= 10,00,000 x (111/100) x (112/100) x (113/100)
= 111 x 112 x 113
= 1404816
Hence the total amount after 3 years is Rs.14,04,816.

7) Find the compound interest on a principal amount of Rs.5000 after 2 years, if the rate of interest for the
1st year is 2% and for the 2nd year is 4%.
Answer : Rs.304
Explanation:
When Rates are different for different years, tell R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.
Then, Amount (= Principal + Compound interest) = P(1 + R1/100)(1 + R2/100)(1 + R3/100).
Here R1 = 2% R2 = 4% and p = Rs.5000, we have to find CI (compound interest).
CI = 5000(1 + 2/100)(1 + 4/100) - 5000
= 5000 x (102/100)(104/100) - 5000
= 5000 x (51/50) x (52/50) - 5000
= 5000 x (51 x 52/2500) - 5000
= 5000 x (2652 / 2500) - 5000
= 5304 - 5000 = 304
Hence the required compound interest is Rs.304.

8) The principal that amounts to Rs. 4913 in 3 years at 6 1/4 % per annum C.I. compounded annually, is?
Answer : Rs. 4096
Explanation:
Principal = [4913 / (1 + 25/(4 * 100))3]
= 4913 * 16/17 * 16/17 * 16/17
= Rs. 4096.

9) If the C.I. on a sum for 2 years at 12 1/2 % per annum is Rs. 510, the S.I. on the same sum at the same
rate for the same period of time is?
Answer : Rs. 480
Explanation:
Let the sum be Rs. P. Then,
[P(1 + 25/(2 * 100))2 - P] = 510
P[(9/8)2 - 1] = 510.
Sum = Rs. 1920
So, S.I. = (1920 * 25 * 2) / (2 * 100)
= Rs. 480

10) The C.I. on a certain sum for 2 years at 10% per annum is Rs. 525. The S.I. on the same sum for double
the time at half the rate percent per annum is?
Answer : Rs. 500
Explanation:
Let the sum be Rs. P. Then,
[P(1 + 10/100)2 - p] = 525
P[(11/10)2 - 1] = 525
P = (525 * 100) / 21 = 2500
Sum = Rs. 2500
So, S.I. = (2500 * 5 * 4)/100 = Rs. 500

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11) The S.I. on a certain sum of money for 3 years at 8% per annum is half the C.I. on Rs. 4000 for 2 years
at 10% per annum. The sum placed on S.I. is?
Answer : Rs. 1750
Explanation:
C.I. = [4000 * (1 + 10/100)2 - 4000]
= (4000 * 11/10 * 11/10 - 4000) = Rs. 840.
Sum = (420 * 100)/(3 * 8) = Rs. 1750

12) What is the difference between the C.I. on Rs. 5000 for 1 1/2 years at 4% per annum compounded
yearly and half-yearly?
Answer : Rs. 2.04
Explanation:
C.I. when interest is compounded yearly
= [5000 * (1 + 4/100) * (1 + (1/2 * 4)/100]
= 5000 * 26/25 * 51/50 = Rs. 5304
C.I. when interest is compounded half-yearly
= [5000 * (1 + 2/100)2]
= (5000 * 51/50 * 51/50 * 51/50)
= Rs. 5306.04
Difference = (5306.04 - 5304)
= Rs. 2.04.

13) Find the C.I. on Rs. 15,625 for 9 months at 16% per annum compounded quarterly?
Answer : Rs. 1951
Explanation:
P = Rs. 15625, n = 9 months = 3 quarters, R = 16% p.a. per quarter.
Amount = [15625 * (1 + 4/100)3]
= (15625 * 26/25 * 26/25 * 26/25) = Rs. 17576 C.I. = 17576 - 15625 = Rs. 1951.

14) If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound
interest on the same sum at the rate and for the same time?
Answer : Rs. 51.25
Explanation:
Sum = (50 * 100) / (2 * 5) = Rs. 500
Amount = [500 * (1 + 5/100)2] = Rs. 551.25
C.I. = (551.25 - 500) = Rs. 51.25.

15) What will be the difference between simple and compound interest at 10% per annum on a sum of Rs.
1000 after 4 years?
Answer : Rs. 64.10
Explanation:
S.I. = (1000 * 10 * 4)/100 = Rs. 400
C.I. = [1000 * (1 + 10/100)4 - 1000]
= Rs. 464.10
Difference = (464.10 - 400)
= Rs. 64.10

16) Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount
will Albert get on maturity of the fixed deposit?
Answer : Rs. 8820
Explanation:
Amount = [8000 * (1 + 5/100)2]
= 8000 * 21/20 * 21/20
= Rs. 8820

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17. What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12% p.a.?
Answer : Rs. 10123.20
Explanation:
Amount = [25000 * (1 + 12/100)3]
= 25000 * 28/25 * 28/25 * 28/25
= Rs. 35123.20
C.I. = (35123.20 - 25000)
= Rs. 10123.20

18. A man saves Rs. 200 at the end of each year and lends the money at 5% compound interest. How much
will it become at the end of 3 years?
Answer : Rs. 662.02
Explanation:
Amount = [200(1 + 5/100)3 + 200(1 + 5/100)2 + 200(1 + 5/100)]
= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)]
= Rs. 662.02

19. Sam invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then
the amount received by Sam at the end of the year will be?
Answer : Rs. 16,537.50
Explanation:
P = Rs. 15000; R = 10% p.a. = 5% per half-year; T = 1 year = 2 half-year
Amount = [15000 * (1 + 5/100)2]
= (15000 * 21/20 * 21/20)
= Rs. 16537.50

20. A bank offers 5% C.I. calculated on half-yearly basis . A customer deposits Rs. 1600 each on 1st
January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest
is?
Answer : Rs. 121
Explanation:
Amount = [1600 * (1 + 5/(2 * 100)2+ 1600 * (1 + 5/(2 * 100)]
= [1600 * 41/40(41/40 + 1)
= [(1600 * 41 * 81)/(40 * 40)]
= Rs. 3321.
C.I. = 3321 3200
= Rs. 121.

21. The compound and the simple interests on a certain sum at the same rate of interest for two years are
Rs.11730 and Rs.10200 respectively. Find the sum.
Answer : Rs.17000
Explanation:
The simple interest for the first year is 10200/2 is Rs.5100 and compound interest for first year also is
Rs.5100. The compound interest for second year on Rs.5100 for one year
So rate of the interest = (100 * 1530)/ (5100 * 1)
= 30% p.a.
So P = (100 * 10200)/ (30 * 2)
= Rs.17000

22. What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when
compounded yearly and half yearly?
Answer : Rs.120
Explanation:
When compounded annually, interest

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= 12000[1 + 20/100]1 - 12000 = Rs.2400
When compounded semi-annually, interest
= 12000[1 + 10/100]2 - 12000
= Rs.2520
Required difference = 2520 2400
= Rs.120

23. A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a.,
20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of
the three years.
Answer : Rs.3120
Explanation:
Let A be the amount received at the end of the three years.
A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]
A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)
A = Rs.7920
So the interest = 7920 4800
= Rs.3120

24. The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be
the compound interest accured on the same amount at the same rate in the same period? (Round off your
answer to two decimal places)
Answer : Rs.20043.94
Explanation:
Let the rate of interest be R% p.a.
(49500)(3)(R)/100 = 17820
495R = 5940
R = 12
CI on Rs.49500 at 12% p.a. for three years
= 49500{[1 + 12/100]3 1}
= 69543.936 - 49500
= Rs.20043.94

25. A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest
for two years at 8% p.a. Find the sum?
Answer : Rs.7500
Explanation:
P = (d * 1002) / R2
=> (48 * 100 * 100) / 8 * 8 = Rs.7500

26. What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years,
compounding done annually?
Answer : Rs.9680
Explanation:
A= P{1 + R/100}n
=> 8000{1 + 10/100}2
= Rs.9680

27. The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a.
was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal
plus interest earned.
Answer : Rs.19,828.80
Explanation:
Let the sum be Rs.P

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P{ [ 1 + 8/100]2 - 1 } = 2828.80
P(8/100)(2 + 8/100) = 2828.80 [a2 b2 = (a - b) ( a + b)]
P = 2828.80 / (0.08)(2.08)
= 1360/0.08
= 17000 Principal + Interest
= Rs. 19828.80

28. Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years.
(Round off your answer to nearest integer)
Answer : Rs.4266
Explanation:
CI = 14800{ [ 1 + 13.5/100]2 - 1 }
= 14800 { [1 + 27/200]2 - 1
= 14800 { 2 + 27/200}{27/200}
= (74)[2 + 27/200](27)
=1998[2 + 27/200]
= 3996 + 269.73
= Rs. 4266

29. Raj invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch
him an amount of Rs.1783.50 at the end of two years?
Answer : 5% p.a.
Explanation:
Let the rate of interest be R% p.a.
17400[1 + R/100]2 = 17400 + 1783.50
[1 + R/100]2 = (17400 + 1783.50)/17400
= 1 + 1025/10000
= 1 + 41/400
= 441/400
= [21/20]2
[1 + R/100]
= 21/20
R/100 = 1/20
Therefore R = 5

30. Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440
respectively. Find the rate of interest?
Answer : 20% p.a.
Explanation:
Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.
Rate of interest = (100 * 240) / (100 * 1)
= 20% p.a

31. How much more would Rs.20000 fetch, after two years, if it is put at 20% p.a. compound interest
payable half yearly than if is put at 20% p.a. compound interest payable yearly?
Answer : Rs.482
Explanation:
20000(11/10)4 20000(6/5)2
= 482

32. A money lender lends Rs.2000 for six months at 20% p.a. rate. It the interest is reckoned quarterly than
find the amount given after time limit.
Answer : Rs.2205
Explanation:

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A = 2000(21/20)2
= 2205

33. Every year an amount increases by 1/8th of itself. How much will it be after two years if its present
value is Rs.64000?
Answer : Rs.81000
Explanation:
64000* 9/8 * 9/8
= 81000

34. In one year, the population, of a village increased by 10% and in the next year, it decreased by 10%. If
at the end of 2nd year, the population was 7920, what was it in the beginning?
Answer : 8000
Explanation:
x*110/100 * 90/100 = 7920
X*0.99=7920
X=7920/0.99
= 8000

35. The difference between compound and simple interest on a certain sum of money for 3 years at 6 2/3%
p.a is Rs.184. Find the sum?
Answer : Rs.13500
Explanation:
P = (184*106) / [6 2/3 * 6 2/3 *(300*6 2/3)]
P = 13500

36. A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its
value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year?
Answer : Rs.25600.24
Explanation:
6 1/4% = 1/16
x *15/16 * 15/16 * 15/16 = 21093
x = 25600.24

37. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of
interest being the same in both cases.
Answer : 11%
Explanation:
Difference between C.I and S.I for 2 years = 36.30
S.I. for one year = 330.
S.I. on Rs 330 for one year = 36.30
So R% = frac{100*36.30}{330*1}
= 11%

38. Find the present worth of Rs. 78000 due in 4 years at 5% interest per year.
Answer : Rs. 65000
Explanation:
Amount with interest after 4 years = Rs. 78000
Therefore, simple interest = 78000 Principal.
Let the principal amount be p.
78000 p = p*4*5/100 p=13000
Principal = 78000 13000 = Rs. 65000

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39. On a sum of money, the simple interest for 2 years is Rs. 660,while the compound interest is
Rs.696.30,the rate of interest being the same in both the cases. The rate of interest is
Answer : 11%
Explanation:
Difference in C.I and S.I for 2 years
= Rs(696.30-660)
=Rs. 36.30.
S.I for one years = Rs330.
S.I on Rs.330 for 1 year =Rs. 36.30
Rate
= (100x36.30/330x1)%
= 11%

40. What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4% per annum
compounded yearly and half-yearly?
Answer : 2.04
Explanation:
C.I. when interest
compounded yearly=Rs.[5000*(1+4/100)(1+1/2*4/100)]
= Rs. 5304.
C.I. when interest is
compounded half-yearly=rs.5000(1+2/100)^3
= Rs. 5306.04
Difference = Rs. (5306.04 5304)
= Rs. 2.04

41. The compound interest on a sum of money for 2 years is rs.832 and the simple interest on the same sum
for the same period is rs.800 .the difference between the compound interest and simple interest for 3 years?
Answer : Rs.98.56
Explanation:
Difference in C.I and S.I in 2years =Rs.32
S.I for 1year =Rs.400
S.I for Rs.400 for one year =Rs.32
rate=[100*32)/(400*1)%
=8%
difference between in C.I and S.I for 3rd year
=S.I on Rs.832= Rs.(832*8*1)/100
=Rs.66.56

42. A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find
the rate of interest.
Answer : 3%
Explanation:
Simple interest = 27250 25000 = 2250
Time = 3 years.
SI = PTR / 100 R = SI * 100 / PT
R = 2250 * 100 / 25000 * 3 R = 3%.

43. Find the present worth of Rs. 78000 due in 4 years at 5% interest per year.
Answer : Rs. 65000
Explanation:
Amount with interest after 4 years = Rs. 78000
Therefore, simple interest = 78000 Principal.
Let the principal amount be p.

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78000 p = p*4*5/100 p=13000
Principal = 78000 13000
= Rs. 65000

44. A certain principal amounts to Rs. 15000 in 2.5 years and to Rs. 16500 in 4 years at the same rate of
interest. Find the rate of interest.
Answer : 8%
Explanation:
Amount becomes 15000 in 2.5 years and 16500 in 4 years.
Simple interest for (4-2.5) years = 16500 15000
Therefore, SI for 1.5 years = Rs. 1500.
SI for 2.5 years = 1500/1.5 * 2.5 = 2500
Principal amount = 15000 2500 = Rs. 12500.
Rate of Interest = 2500 * 100 / 12500 * 2.5 R = 8%.

45. Find the compound interest on Rs. 3000 at 5% for 2 years, compounded annually.
Answer : Rs. 307.5
Explanation:
Amount with CI = 3000 (1+ 5/100)2 = Rs. 3307.5
Therefore, CI = 3307.5 3000
= Rs. 307.5

46. How long will it take a certain amount to increase by 30% at the rate of 15% simple interest?
Answer : 2%
Explanation:
Let the principal be Rs. x
Simple interest = x*30/100 = 3x/10
T = 100*SI/PR = 100*3x/10 / x*15 = 2%

47. A certain amount becomes Rs. 5760 in 2 years and Rs. 6912 in 3 years. What is the principal amount
and the rate of interest?
Answer : Rs. 4000
Explanation:
SI on Rs. 5760 for 1 year = 6912 5760 = Rs. 1152
Therefore, Rate of interest for 1 year = 100*1152/5760*1 = 20%
Let the principal be p.
Then, Principal = p[1+ 20/100]2 = 5760
Solving which gives Principal = Rs. 4000

48. The difference between SI and CI compounded annually on a certain sum of money for 2 years at 8%
per annum is Rs. 12.80. Find the principal.
Answer : Rs. 2000
Explanation:
Let the principal amount be x.
SI = x * 2 * 8 / 100 = 4x/25
CI = x[1+ 8/100]2 x 104x/625
Therefore, 104x/625 4x/25 = 12.80
Solving which gives x, Principal = Rs. 2000.

49. Find the compound interest on Rs. 10000 at 12% rate of interest for 1 year, compounded half-yearly.
Answer : Rs. 1236
Explanation:
Amount with CI = 10000 [1+ (12/2 * 100)]2 = Rs. 11236
Therefore, CI = 11236 10000

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= Rs. 1236

50. Find the compound interest on Rs. 3000 at 5% for 2 years, compounded annually.
Answer : Rs. 307.5
Explanation:
Amount with CI = 3000 (1+ 5/100)2
= Rs. 3307.5
Therefore, CI = 3307.5 3000
= Rs. 307.5

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