Simple and Compound Interest Questions for RRB NTPC Set-3 PDF
Download RRB NTPC Simple & Compound Interest Questions Set-3 PDF. Top 10 RRB NTPC questions based on asked questions in previous exam papers very important for the Railway NTPC exam.
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Question 1: The amount (in Rs) received at 10% per annum compound interest after 3 yrs is Rs 1,19,790. What was the principal?
a) 90000
b) 1,00,000
c) 80000
d) 75000
Question 2: What is the total earning after 2 years from ₹ 18,750 on variable compound interest if the rate of interest for the first 4 year is 4% and for the second, it is 8%?
a) ₹ 1,740
b) ₹ 1,760
c) ₹ 1,670
d) ₹ 2,310
Question 3: In how many months will Rs 8,000 yield Rs 2,648 as compound interest at 20% per annum compounded semi-annually?
a) 18
b) 24
c) 12
d) 30
Question 4: What is the rate of interest (in %) if simple interest earned on a certain sum for the 3rd year is Rs 2,000 and compound interest earned in 2 years is Rs 4,160?
a) 8
b) 10
c) 12
d) 6
Question 5: On what sum of money. the interest for one year at 12% p.a. compounded half yearly is ₹ 1,545?
a) ₹ 12,500
b) ₹ 12,875
c) ₹ 25,750
d) ₹ 24,300
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Question 6: A sum of ₹800 invested on simple interest becomes ₹1200 in 8 years. What will be simple interest for 6 years on the sum at the same rate of interest?
a) ₹240
b) ₹210
c) ₹250
d) ₹300
Question 7: A sum of ₹2000 is invested on simple interest for three years at the rate of 10% per annum,then the amount will be:
a) ₹2900
b) ₹2600
c) ₹2300
d) ₹2500
Question 8: A sum of ₹ 4200 becomes ₹ 5082 in 3 years rate simple interest. What is the rate of interest per annum?
a) 8%
b) 9%
c) 5%
d) 7%
Question 9: The difference between simple and compound interests compounded annually, on a certain sum of money for 2 years at 6% pa is ₹ 3.6. What is the sum?
a) ₹800
b) ₹750
c) ₹1,000
d) ₹1,250
Question 10: The simple interest for the second year on a certain sum at a certain rate of interest is ₹ 1000. What is the sum of the interest accrued on it for the $6^{th}, 7^{th}$ and $8^{th}$ years?
a) ₹3200
b) ₹3300
c) ₹3000
d) ₹3630
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Answers & Solutions:
1) Answer (A)
$P(1+\frac{R}{100})^{3}$=119790
$P(1+\frac{10}{100})^{3}$=119790
$P(\frac{11}{10})^{3}$=119790
P=119790*1000/1331
P=Rs 90000
2) Answer (D)
P=18750
1st year = 4%
2nd year = 8%
Interest for 1st year $= \frac{18750\times 4\times 1}{100} = 750$
Principal after 1st year $= 18750+750 = 19500$
Interest for 2nd year $=\frac{19500\times 8\times 1}{100} = 1560$
Total interest = 750+1560 = 2310
Option D is correct.
3) Answer (A)
$P(1+\frac{R/2}{100})^{2n}-P$=2648
$(1+\frac{R/2}{100})^{2n}-1=2648/8000
4) Answer (A)
$PTR/100$=2000
$PR$=200000
$P(1+\frac{R}{100}^{2})-P$=4160
$P((200+R)(R))$=4160
Dividing both the equations we have
1/(R+200) =20/4160
R+200=208
R=8%
5) Answer (A)
In compound interest,
Final amount,A$=P(1+r/n)^nt$.
where P is principal amount,r is rate of interest,n is number of times interest applied and t is number of times period elapsed.
So,interest gain$=A-P.$
So,$P(1+0.12/2)^2-P=1545.$
or,$P×1.1236-P=1545.$
or,$P=(1545/0.1236).$
or,$P=12500.$
A is correct choice.
6) Answer (D)
SI= (P*R*T)/100
Given , P= 800 RS
T= 8 years
SI= Amount – P= 1200-800 = 400 Rs
SI = (400*R*8)/100
R = (25/4) or 6.25
Now, given , T= 6 Years, P = 800 Rs, R= 6.25%
SI = (800*6*6.25)/100 = ₹300
7) Answer (B)
Simple Interest (SI) is given as = $\frac{PRT}{100}$, where P is Principle amount, R is Rate of Interest,T is Time period
Here, P = 2000, R = 10 % So, SI =$\frac{(2000)(10)(3)}{100}$ = 600
Hence the total amount will be SI + P = 2000 + 600 = 2600.
8) Answer (D)
Let the rate of interest be R%.
Simple Interest = Rs.5082 – Rs.4200 = Rs.882
$\dfrac{4200\times R\times3}{100} = 882$
=> 3R = 21 => R = 7
Therefore, Rate of interest = 7%
9) Answer (C)
Let the principal be Rs.10000x
Simple Interest for 1 year at 6% per annum = Rs.600x
Simple Interest for 2 years at 6% per annum = Rs.600*2 = Rs.1200x
Amount of Compound Interest for 2 years at 6% per annum = $10000x \times \dfrac{106}{100} \times \dfrac{106}{100} = Rs.11236x
Compound Interest = Rs.11236x – Rs.10000x = Rs.1236x
Difference between SI and CI = 1236x – 1200x = Rs.36x
Given, 36x = Rs.3.6
=> x = 0.1
Therefore, Principal = Rs.10000x = Rs.10000*0.1 = Rs.1000
10) Answer (C)
Simple interest on every year is same and so for any one year it will be 1000 as given
So for the three years given it will be 3*1000=3000
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