SBI Clerk Simple Interest and Compound Interest Questions PDF

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SBI Clerk Simple Interest and Compound Interest Questions PDF
SBI Clerk Simple Interest and Compound Interest Questions PDF

SBI Clerk Simple and Compound Interest Questions PDF:

Simple and Compound Interest is of the important in SBI Clerk numerical ability/quantitative aptitude section.

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Question 1: Find SI if P = Rs. 1000, R = 20% per annum and duration is 4 years

a) Rs. 400
b) Rs. 600
c) Rs. 800
d) Rs. 850
e) None of these

Question 2: A sum becomes 10/9 times itself in 1 yr. Find the rate of simple interest.

a) 11 1/2 %
b) 11 1/9%
c) 12 1/2%
d) 121/9%
e) None of these

Question 3: A person borrowed Rs. 2000 at 5% per annum simple interest and immediately lent it at 6% per annum simple interest. At the end of 2 1/2 yr he collected the amount and settled his loan. What was his profit?

a) Rs. 45
b) Rs. 40
c) Rs. 50
d) Rs. 56
e) None of these

Question 4: Mr.Nair’s monthly salary is rs 22,500. He took a loan of rs 30,000 on simple interest for 3 years at the rate of 5 p.c.p.a. The amount that he will be paying as simple interest in 3 years is what percent of his monthly salary ?

a) 10
b) 18
c) 20
d) 25
e) None of these

Question 5: Mr.Khanna took a loan of Rs 10,000 on simple interest at the rate of 3% pa. The total amount that he will be paying as interest in 2 years is 3% of his monthly salary. What is his monthly salary ?

a) Rs30,000
b) Rs16,000
c) Rs20,000
d) Rs12,000
e) None of these

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Question 6: The simple interest accrued on an amount of Rs 19,800 at the end of three years is Rs. 7,128. What would be the compound interest accrued on the same amount at the same rate in the same period ?

a) Rs 8934.6784
b) Rs 8017.5744
c) Rs 7861.8754
d) Cannot be determined
e) None of these

Question 7: Mr X invested a certain amount in Debt and equity Funds in the ratio of 4:5. At the end of one year he earned a total dividend of 30% on his investment.After one year he reinvested the amount including the dividend in the ratio of 6:7 in Debt and Equity Funds.If the amount reinvested in Equity Funds was rs 94,500,what was the original amount invested in Equity Funds ?

a) rs 75,000
b) rs 81,000
c) rs 60,000
d) rs 65,000
e) None of these

Question 8: How much will a sum of Rs.6,300 to in a span of 2 years, at 5 pcpa rate of compound interest (rounded of to the nearest integer)?

a) Rs. 6946
b) Rs. 6876
c) Rs. 6521
d) Rs. 6790
e) Rs. 6492

Question 9: What would be the simple interest accrued in 4 yr on a principle of Rs 16500 at the rate of 16% per annum ?

a) Rs 11560
b) Rs 10250
c) Rs 12500
d) Rs 9980
e) None of these

Question 10: What is the difference between the compound interest and simple interest accrued on an amount of Rs 12000 at the end 3 yr at the rate of 12% ?

a) Rs 539.136
b) Rs 602.242
c) Rs 495.248
d) Rs 488.322
e) None of these

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Solutions for SBI Clerk Simple Interest and Compound Interest Questions PDF:

Solutions:

1) Answer (C)

S.I = PRT/100 = (1000×20×4)/100= Rs. 800

2) Answer (B)

Let the sum be Rs. x,
Amount = Rs. 10x/9 , T= 1 year
S I = (Amount – sum) = Rs. (10x/9-x) = Rs. (x/9) R = ((100×SI)/(P×T))=(100×x/9×1/x)%per annum = (100/9)% per annum = 11 1/9% per annum

3) Answer (C)

For borrowed money P = Rs. 2000, R = 5% per annum and T = 5/2 year
SI = Rs. (2000×5/2×5×1/100)= Rs. 250
For lent money P = Rs. 2000, R = 6% per annum and T = 5/2 year
SI= Rs. (2000×5/2×6×1/100) = Rs. 300
His profit = Rs. (300 – 250) = Rs. 50

4) Answer (C)

Interest = (Principal * interest * No. of years )
Interest = (30,000*3*5)/100
Interest = 4,500
x% of 22,500 = 4,500
x = (4500/22,500)*100
x = 20

5) Answer (C)

Simple interest = Principal * no. of years * rate of interest = 10,000*2*.03=600
Let his salary be x
.03x=600
x=20,000

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6) Answer (B)

Let the rate of interest on the principal be R.
So, 19800*R*3/100 = 7128
So, R = 12%
Hence, the compound interest on the same amount for the same time period equals
19800*1.12^3 – 19800 = 27817.57 – 19800 = Rs. 8017.57

7) Answer (E)

Let the original amount invested be x.
Hence, the amount with him after recieving the dividend is 1.3x.
Now, this amount was reinvested in ratio 6:7 in debt and equity funds. Amount invested in equity fund was 94,500
Hence, (0.7x/1.3)=94,500, x=175500
now, the original amount invested in equity was (5/9)*175500=97,500

8) Answer (A)

We can calculate the compound interest as follows
Compound Interest = 6300 x 1.05 x1.05 = 6945.75

9) Answer (E)

Let N be total number of sweets and each student get x sweet.
N/200 = x, N=200x
Also, as per given condition,
N/160 = x+2
N = 160x + 320
200x = 160x + 320
40x = 320
x = 8
Number of sweets = 1600
Hence, the correct option is option D.

10) Answer (A)

Compound Interest Acrrued = 12000*(1.12)^3 -12000 = 16859.14 – 12000 = 4859.136
Siimple Interest acrrued = 12000*3*0.12 = 4320
Difference between Compound Interestand Simple interest = 4859.136 – 4320 = 539.136
Therefore, the correct option is option A.

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