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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

Q81. **Manoj borrowed Rs.3450 from Anwar at 6% p.a. simple interest for three years. He then added some more money to the borrowed sum and lent it to Ramu for the same time at 9% p.a. simple interest. If Manoj gains Rs.824.85 by way of interest on the borrowed sum as well as his own amount from the whole transaction, then what is the sum lent by him to Ramu?**

  1.  Rs.3,870
  2.  Rs.5,355
  3.  Rs.3,855
  4.  Rs.3600

Solution : Rs.5,355
Q82. **A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?**

  1.  4% p.a.
  2.  6% p.a.
  3.  8% p.a.
  4.  12% p.a.

Solution : 12% p.a.

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Q83. **The simple interest accrued on an amount Rs.10,000 at the end of two years is same as the compound interest on Rs.8,000 at the end of two years. The rate of interest is same in both the cases. What is the rate of interest?**

  1.  100% p.a.
  2.  200% p.a.
  3.  300% p.a
  4.  50% p.a

Solution : 50% p.a
Q84. **Rs.4500 amounts to Rs.5544 in two years at compound interest, compounded annually. If the rate of the interest for the first year is 12%, find the rate of interest for the second year?**

  1.  10%
  2.  12%
  3.  15%
  4.  20%

Solution : 10%

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Q85. **How much time will take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?**

  1.  3.5 years
  2.  4 years
  3.  4.5 years
  4.  5 years

Solution : 4 years
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