*Hello and welcome to*

**exampundit**.

*Here is a set of Quantitative Aptitude Quiz based on Compound Interest Problems. Now, these questions are from Basic to Moderate just to rectify your errors and brush up your skills.*

**1. Ruchi borrows Rs. 13040 at 3 ¾% per annum from a bank. Compound interest is to be repaid in two**

**equal yearly instalments. Find the amount of each instalment.**

(A) Rs. 6889

(B) Rs. 7259

(C) Rs. 8689

(D) Rs. 5124.50

(E) None of these

**2. A sum of money placed at compound interest doubles itself in 4 years. In how many years will it**

**amount to 8 times?**

(A) 6 years

(B) 8 years

(C) 12 years

(D) 10 years

(E) None of these

**3. Find the compound interest of Rs. 10,000 in 9 months at 4% per annum interest payable quarterly.**

(A) Rs. 300

(B) Rs. 310

(C) Rs. 303

(D) Rs. 303·01

(E) None of these

**4. Some money was lent on 4% C.I. If the difference in interest of second and the first year is Rs. 88, find**

**out the sum.**

(A) Rs. 50,000

(B) Rs. 60,000

(C) Rs. 65,000

(D) Rs. 55,000

(E) None of these

**5. The population of a town is 50,000. It decreases by 20 per thousand per year. Find out the population**

**after 2 years.**

(A) 46,000

(B) 46,200

(C) 48,020

(D) 48,320

(E) None of these

**6. If the population of a town at present is 10648 and the rate of increment is 10% per year. What was**

**the population before 3 years?**

(A) 10,000

(B) 9,000

(C) 11,000

(D) 8,000

(E) None of these

**7. Akarsh left a will of Rs. 16,400 for his two sons aged 17 and 18 years. They must get equal amounts**

**when they are 20 years at 5% compound interest. Find the present share of the younger son.**

(A) Rs. 8,000

(B) Rs. 8,400

(C) Rs. 8,200

(D) Rs. 10,000

(E) None of these

**8. The compound interest on a sum of money for 2 years is Rs. 410 and the simple interest on the same**

**sum for the same period and at the same rate is Rs. 400. Find the rate of interest.**

(A) 4%

(B) 3%

(C) 5%

(D) 6%

(E) None of these

*Sponsored*

**Solutions by Arjit:**

*(1) Installment* [(100/100+r)+(100/100+r)^2=Borrowed Amount*

*Use this formula to get Answer*

*(2) 4 years me 2 times*

*4+4 yrs me 4 times*

*4+4+4 yrs me 8 times*

*(3) Interest=10000(1+1/100)^3-10000*

*(4) First year CI or SI will be same=4 Rs*

*Second year interest=100[(1+4/100)^2)-100=4.16*

*Difference=4.16-4.00=0.16*

*......0.16---------100*

*1---------------100/0.16*

*88............100*88/0.16=55000*

*(5) 50000(1-20/1000)^2......Please note, it is mentioned 1000 here.*

*(6)10648=P(1+10/100)^3...CALCULATE P*

*(7) Let share be x and 16400-x.....x elder and 16400-x younger*

*x(1+5/100)^2=16400-x(1+5/100)^3*

*because 18 yrs son will become 20 yrs in 2 yrs and 17 years son will become in 3 yrs*

*(8) Difference in CI-SI = 410 - 400 = Rs. 10*

*SI 1 year = 400/2 = Rs. 200 ..*

*This will work as Pricpl for next yr and intrest will be 10 rupees*

*10=200*r*1/100*

*r= 5%*

Regards

**Team ExamPundit**

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