XAT Interest Questions

Ramesh bought a mobile from a local store. He paid 1/6 of the price via UPI and 1/3 of the price via cash. He agreed to pay the balance amount a year later. While paying back the balance amount, Ramesh paid 10% interest on the balance amount.
If the interest paid was Rs. 6000, what was the original price of the mobile?

Jose borrowed some money from his friend at simple interest rate of 10% and invested the entire amount in stocks. At the end of the first year, he repaid 1/5th of the principal amount. At the end of the second year, he repaid half of the remaining principal amount. At the end of third year, he repaid the entire remaining principal amount. At the end of the fourth year, he paid the last three years’ interest amount. As there was no principal amount left, his friend did not charge any interest in the fourth year. At the end of fourth year, he sold out all his stocks. Later, he calculated that he gained Rs. 97500 after paying principal and interest amounts to his friend. If his invested amount in the stocks became double at the end of the fourth year, how much money did he borrow from his friend?

Mohan has some money (₹M) that he divides in the ratio of 1:2. He then deposits the smaller amount in a savings scheme that offers a certain rate of interest, and the larger amount in another savings scheme that offers half of that rate of interest. Both interests compound yearly. At the end of two years, the total interest earned from the two savings schemes is ₹830. It is known that one of the interest rates is 10% and that Mohan deposited more than ₹1000 in each saving scheme at the start. What is the value of M?

A computer is sold either for Rs.19200 cash or for Rs.4800 cash down payment together with five equal monthly installments. If the rate of interest charged is 12% per annum, then the amount of each installment (nearest to a rupee) is:

In the beginning of the year 2004, a person invests some amount in a bank. In the beginning of 2007, the accumulated interest is Rs. 10,000 and in the beginning of 2010, the accumulated interest becomes Rs. 25,000. The interest rate is compounded annually and the annual interest rate is fixed. The principal amount is:

Mr. Mehra is planning for higher education expenses of his two sons aged 15 and 12. He plans to divide Rs 15 lakhs in two equal parts and invest in two different plans such that his sons may have access to Rs 21 lakhs each when they reach the age of 21. He is looking for plans that will give him a simple interest per annum. The rates of interest of the plans for his younger son and his elder son should be

A man borrows 6000 at 5% interest, on reducing balance, at the start of the year. If he repays 1200 at the end of each year, find the amount of loan outstanding, in , at the beginning of the third year.