Simple and Compound Interest Questions for RRB NTPC Set-4
Download RRB NTPC Simple and Compound Interest Questions Set-4 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 simple interest at the rate of 8% on the amount Rs. 20,000 for 3 months is
a) 400
b) 600
c) 500
d) 200
Question 2: A certain amount which was loaned on simple interest doubled in 10 years Then the amount received is loaned on compound interest for another 2 years on the same rate What is the total rise in the amount after 12 years with the initial principal amount ?
a) 42%
b) 142%
c) 242%
d) 150%
Question 3: One-fourth of an amount was loaned at simple interest with 2% rate of interest and the remaining part was lent on simple interest at 3% rate of interest What is the average rate of interest for the whole amount ?
a) $2\frac{1}{4}\%$
b) $2\frac{3}{4}\%$
c) $1\frac{1}{4}\%$
d) $4\%$
Question 4: The simple interest on a certain sum at the rate of 4% per annum in 4 years is Rs. 80 more than the simple interest on the same sum at 5% per annum after 3 years. The sum is
a) Rs. 7000
b) Rs. 7,500
c) Rs. 8000
d) Rs. 8,500
Question 5: Find the simple interest on ₹ 4800 at the rate of $8 \frac{1}{2}$% per annum for a period of 2 years 3 months.
a) ₹ 796
b) ₹ 816
c) ₹ 918
d) ₹ 990
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Question 6: What is the difference between Compound Interest and Simple Interest on Rs.1000 at 10% after 4 years?
a) Rs.64.10
b) Rs.74
c) Rs.16.40
d) Rs.52
Question 7: The Compound Interest on a certain sum for 2 years at 10% is Rs.2100. What will be the Simple Interest for the same period, on the same sum and at the same rate?
a) Rs.2000
b) Rs.1600
c) Rs.1800
d) Rs.1980
Question 8: Find the difference between the Simple Interest and Compound Interest on Rs.10000 for 3 years at the rate of 3% per annum.
a) Rs.27.27
b) Rs.17.82
c) Rs.21.54
d) Rs.16.25
Question 9: Compound Interest and Simple Interest on a certain sum of money for 2 years is Rs.282.15 and Rs.270 respectively. The rate of interest is:
a) 6$\frac{2}{3}$%
b) 11%
c) 9%
d) 8$\frac{1}{3}$%
Question 10: On a sum of money, the Simple Interest for 2 years is Rs.660 while the Compound Interest for two years is Rs.696.30, the rate of interest being the same. Find the rate of interest.
a) 10%
b) 12.75%
c) 11%
d) 13%
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Answers & Solutions:
1) Answer (A)
S.I=P x r x t/100 , t in years
=(20,000 x 8 x 3)/( 100 x 12)=400
2) Answer (B)
The amount doubled in 10 years. So, the interest = principle.
So, rt/100 = 1
r = 10% pa
Now compound interest = ?
2P $(1 + .1) ^ {2}$ = 2P x 1.21 = 2.42P
Total rise is P to 2.42P = rise of 142%
3) Answer (B)
Let the amount be 100 Rs.
One fourth of it is at 2 % pa
So, 25 x 2 x 1 /100 = .5
The rest is on 3% pa interest.
So, 75 x 3 x 1 /100 = 2.25
So total interest = 2.75
Interest rate = ?
Interest rate = i x 100/ pt
= 2.75 x100/100 = 2.75%
4) Answer (C)
Let the principal be P
SI = P xT x R/100
difference = P x 4 x 4 /100 – P x 5 x 3/100
= 16P/100 – 15P/100 = 80
P = 8000 Rs.
5) Answer (C)
Given that P = 4800, T = 2.25, R = 8.5
We know that Simple Interest $ I = \frac{PTR}{100} $
Therefore,$ I = \frac{4800 \times 2.25 \times 8.5}{100} $
=> $ I = \frac{91800}{100} = Rs 918/- $
6) Answer (A)
Simple interest SI= P× N×R ÷ 100
P=principle amount
N= Time period
R= rate of interest
SI=1000×10×4÷100
SI=400
For compound interest (CI)
Amount=P×(1+R÷100)^N
Amount=1000×(1+10÷100)^4
Amount=1464.1
Amount=P+CI
CI=Amount-P
CI=464.1
CI-SI=64.1
7) Answer (A)
amount= principle+interest
compound interest,
$ amt = p \times (1+ \frac{r}{100})^n $
amt=p+interest
interest=2100
r=10%
n=2
$ p+2100 = p \times (1+ \frac{10}{100})^2$
solving we get p=10000
simple interest
$ si= \frac{p \times n \times r}{100} $
p=10000
n=2
r=10%
substituting
$ si= \frac{10000 \times 10 \times 2}{100} $
=2000
8) Answer (A)
SI = $ \frac{PNR}{100} $
CI = $ P(1 + \frac{r}{100})^n $
P = 10000
N = 3 years
R = 3%
$ SI = \frac{10000 \times 3 \times 3}{100} = 900 $
CI = $ 10000(1 + \frac{3}{100})^3 $
= 927.27
CI – SI = 927.27 – 900 = 27.27
9) Answer (C)
CI for 2 years = Rs 282.15
SI for 2 years = Rs 270
SI for 1 year = $ \frac{270}{2} =135 $
difference between SI and CI = 282.15 – 270 = 12.15 Rs
rate% = $ \frac{12.15}{135} \times 100 = 9$%
for 1st year CI and SI will be same
10) Answer (C)
Difference in C.I and S.I for 2 years
= Rs(696.30-660)
=Rs. 36.30.
S.I for one years = Rs330.
S.I on Rs.330 for 1 year =Rs. 36.30
$R=\frac{S.I\times100}{{P}\times{T}}$
Rate
$= \frac{100\times36.30}{330\times1}$
= 11%
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