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Simple and Compound Interest

Simple and Compound Interest: Difference between simple and compound interest, Simple Interest Formula and Compound Interest Formula, Simple Interest Questions

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Online Aptitude Questions with Answers on Simple and Compound Interest

Q16. > In the question given below consists of a statement and / or a > question and two statements numbered I and II given below it. You have > to decide whether the data provided in the statement(s) is / are > sufficient to answer the given question. Read the both statements and > Give answer. > > (A) if the data in Statement I alone are sufficient to answer the > question, while the data in Statement II alone are not sufficient to > answer the question. Give answer > > (B) if the data in Statement II alone are sufficient to answer the > question, while the data in Statement I alone are not sufficient to > answer the question. Give answer > > (C) if the data either in Statement I or in Statement II alone are > sufficient to answer the question. Give answer > > (D) if the data even in both Statements I and II together are not > sufficient to answer the question. Give answer > > (E) if the data in both Statements I and II together are necessary to > answer the question. **What is the sum which earned interest?** **I. The total simple interest was Rs. 7000 after 7 years.** **II. The total of sum and simple interest was double of the sum after 5 years.**

  1.  I alone sufficient while II alone not sufficient to answer
  2.  II alone sufficient while I alone not sufficient to answer
  3.  Either I or II alone sufficient to answer
  4.  Both I and II are not sufficient to answer
  5.  Both I and II are necessary to answer

Solution : Both I and II are necessary to answer
Q17. > In the question given below consists of a statement and / or a > question and two statements numbered I and II given below it. You have > to decide whether the data provided in the statement(s) is / are > sufficient to answer the given question. Read the both statements and > Give answer. > > (A) if the data in Statement I alone are sufficient to answer the > question, while the data in Statement II alone are not sufficient to > answer the question. Give answer > > (B) if the data in Statement II alone are sufficient to answer the > question, while the data in Statement I alone are not sufficient to > answer the question. Give answer > > (C) if the data either in Statement I or in Statement II alone are > sufficient to answer the question. Give answer > > (D) if the data even in both Statements I and II together are not > sufficient to answer the question. Give answer > > (E) if the data in both Statements I and II together are necessary to > answer the question. **What percentage of simple interest per annum did Anand pay to Deepak?** **I. Anand borrowed Rs. 8000 from Deepak for four years.** **II. Anand returned Rs. 8800 to Deepak at the end of two years and settled the loan.**

  1.  I alone sufficient while II alone not sufficient to answer
  2.  II alone sufficient while I alone not sufficient to answer
  3.  Either I or II alone sufficient to answer
  4.  Both I and II are not sufficient to answer
  5.  Both I and II are necessary to answer

Solution : Both I and II are necessary to answer
Q18. > In the question given below consists of a statement and / or a > question and two statements numbered I and II given below it. You have > to decide whether the data provided in the statement(s) is / are > sufficient to answer the given question. Read the both statements and > Give answer. > > (A) if the data in Statement I alone are sufficient to answer the > question, while the data in Statement II alone are not sufficient to > answer the question. Give answer > > (B) if the data in Statement II alone are sufficient to answer the > question, while the data in Statement I alone are not sufficient to > answer the question. Give answer > > (C) if the data either in Statement I or in Statement II alone are > sufficient to answer the question. Give answer > > (D) if the data even in both Statements I and II together are not > sufficient to answer the question. Give answer > > (E) if the data in both Statements I and II together are necessary to > answer the question. **What is the rate of simple interest?** **I. The total interest earned was Rs. 4000.** **II. The sum was invested for 4 years.**

  1.  I alone sufficient while II alone not sufficient to answer
  2.  II alone sufficient while I alone not sufficient to answer
  3.  Either I or II alone sufficient to answer
  4.  Both I and II are not sufficient to answer
  5.  Both I and II are necessary to answer

Solution : Both I and II are not sufficient to answer
Q19. In the questions given below consists of a question followed by three statements. You have to study the question and the statements and decide which of the statement(s) is/are necessary to answer the question. **What is the principal sum?** **I. The sum amounts to Rs. 690 in 3 years at S.I.** **II. The sum amounts to Rs. 750 in 5 years at S.I.** **III. The rate of interest is 5% p.a.**

  1.  I and III only
  2.  II and III only
  3.  I and II only
  4.  I and III only, or II and III only
  5.  Any two of the three

Solution : Any two of the three

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Q20. **A bank offers 5% compound interest 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:**

  1.  Rs. 120
  2.  Rs. 121
  3.  Rs. 122
  4.  Rs. 123

Solution : Rs. 121
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