# 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

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

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

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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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Solution :

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