BIBM MCQ Solution 2020-2023 384 Interest

Simple & Compound Interest

BB(AD) Free Math MCQ Class
BIBM Special
 Simple interest :
1. Kona deposited Tk. 505 into her savings account. If the interest rate of the account is
5% per year, how much interest will she have made after 4 years?( Kbv Zvi mÂqx wn‡m‡e 505
UvKv wewb‡qvM K‡ib| hw` gybvdvi nvi 5% nq, Zvn‡j 4 eQi ci †m †gvU KZ UvKv gybvdv cv‡e?) [BB-(AD)-2021]
A. Tk. 252.50 B. Tk. 606 C. Tk. 10,100 D. Tk. 101 Ans:D
Solution:
Given that, Principal, P = 505, Time, n = 4 years, Interest rate, r = 5%, So, total interest, I = ?
Pnr 505  4  5
We, Know, I = = = Tk. 101
100 100
1 1 1
gy‡L gy‡L: 5% nv‡i 4 eQi A_© 5%4 = 20% ev fMœvsk AvKv‡i 20 = Ask| A_©vr my` Avm‡ji Ask
100 5 5
1
myZivs 505 UvKv wewb‡qvM Ki‡j Zvi my` n‡e 505 Gi Ask = 101 UvKv|
5
2. What is the annual interest rate on an account that earns Tk. 948 in simple interest over
36 months with and initial deposit of Tk. 7900?( 7900 UvKvi 36 gv‡mi mij gybvdv 948 UvKv n‡j,
gybvdvi nvi KZ?) [BB-(AD)-2021]
A. 40% B. 4% C. 3% D. 3.3% Ans: B
Solution:
Here, Simple Interest I = 948, Time n = 36 months = 3 years, Principal = Tk. 7900
I  100 948  100
We Know, Interest rate, r = = = 4%
Pn 7900  3

If a certain sum of money can become 5 times of its principal in 10 years, then the rate
of interest in?( GKwU Avmj 10 eQi ci 5 ¸Y nj ? gybvdvi nvi KZ?) [NRBC Bank (Trainee Officer)-
2022]
a. 20% b. 30% c. 40% d. 50% Ans: c

3. If the ratio of principal and yearly amount be in the ratio 25: 28, then the yearly rate of
interest is (hw` g~jab Ges evwl©K my`vm‡ji AbycvZ 25:28 nq Zvn‡j evwl©K my‡`i nvi KZ?) [Combined (SO)-
2021]
A. 3% B.12% C.10 % D.8% Ans:B
Solution:Let, Principal = 25x and yearly amount = 28x
3x
 Interest = 28x – 25x = 3x So, rate of interest =  100 = 12%
25 x
 BIBM MCQ Solution 2020-2023 385 Interest
gy‡L gy‡L: Avmj I my`vmj = 25:28 †_‡K 25 UvKv Avmj n‡j my` 28-25 = 3 Zvn‡j 100UvKv n‡e 4¸Y ev
12%

4. A man borrowed some money for 120 days. He asked the banker for the money and the
banker charged Tk. 360 as interest at 6% per annum. What was the amount he
borrowed? (GK e¨w³ 120w`‡bi Rb¨ wKQz UvKv FY †bqvi ci 6% nv‡i †gvU 360 UvKv my` cwi‡kva Ki‡jb|
wZwb KZ UvKv wb‡qwQ‡jb?) [Combined 7 Banks (SO)-2023]
a) Tk. 18000 b) Tk. 16000 c) Tk. 15000 d) None of these Ans: a
Written Solution: (m~Î w`‡q Gfv‡e †h †Kvb cixÿvq wjwLZ mgvavb Kiv hv‡e )
Let, borrowed money be Tk. P
120 4 1
Here, 120 days = = 4 months = years = years
30 12 3
1 6
We Know , I = Pnr  360 = P    P = 36050 = Tk. 18000
3 100
gy‡L gy‡L mgvavb: (Dfq cv‡k mgvb mg‡qi my` †ei Kivi ci 100% Gi gvb ‡ei Ki‡jB Avmj †ei n‡e)
GK eQi ev 12 gv‡mi my‡`i nvi = 6% n‡j 4 gv‡m n‡e 3 fv‡Mi 1 fvM A_©vr 2%
GLb my` 2% = 360 UvKv n‡j Avmj 100% = 18000 UvKv|
A_ev 12 gv‡mi my` 6% = 12 gv‡mi my` 3603 = 1080 n‡j Avmj 100% = 18000 UvKv|
Simple interest on a certain sum at the rate of 4.5% p.a for 4 years and 6 years differs
by BDT 216. The sum is ( GKwU wbw`©ó cwigvb g~jab 4.5% mijmy‡` 4 eQ‡ii my` Ges 6 eQ‡ii my‡`i cv_©K¨
216 UvKv | g~jab KZ? )
(a) Tk. 2100 (b) Tk. 2400 (c) Tk. 1800 (d) None of these Ans
Solution: Let, The sum be Tk. x
ATQ, x  4.5%  6 – x  4.5%  4 = 216
27 x 18x 27 x  18x
 - = 216  = 216  9x = 21600  x = 2400
100 100 100

5. A sum of money amounts to Tk. 9800 after 5 years and Tk. 12005 after 8 years at the
same rate of simple interest. The rate of interest per annum is?( ‡Kvb Avmj mij my‡` 5 eQ‡i
my‡`-Avm‡j 9800 UvKv Ges 8 eQ‡i my‡`-Avm‡j 12005 UvKv nq| my‡`i nvi KZ?) [PKB-(So-General)-2021]
a) 5% b) 8% c) 12% d) 15% Ans: c
Solution:
Principal + 8 years interest is = 12005
Principal + 5 years interest is = 9800
3 years interest is = 2205
2205
1 year interest is =
3
2205 5
5 years interest is = = Tk. 3675
3
 Principal = Tk.(9800-3675) = Tk.6125
I  100 3675  100
We know, Interest rate r = = = 12%
pn 6125  5
 BIBM MCQ Solution 2020-2023 386 Interest
6. A man purchased a cow for Tk. 3000 and sold it the same day for Tk. 3600, allowing the
buyer a credit of 2 years. If the rate of interest be 10% per annum, Then the man has a
gain of; (GK e¨w³ 3000 UvKvq GKwU Miæ µq K‡i 2 eQi ci 3600 UvKvq weµq K‡i | hw` my‡`i nvi evwl©K
10% nq| H e„w×i jvf kZKiv KZ?) [Combined 5 Banks (Rejected-(Officer Cash)-2021]
A. 0% B. 5% C. 7.5% D. 10% Ans:D
Solution:
C.P = 3000 Selling price = 3600 Profit = Tk.(3600- 3000) = Tk. 600
600
Profit of 2 years = Tk. 600 So, profit of 1 year = = Tk. 300
2
300  100
So, profit or gain % = = 10%
3000

7. The interest charged on a loan is 'P' per Tk. 1000 for the fast quarter ( 3 months), and
'Q' per Tk. 1000 for each month after the first quarter. How much interest will be
charged for the first year on Tk. 10,000?
a. 10(P + Q) b. 10(P + 9Q) c. (4P + 9Q) d. None of these Ans: b
Solution: First question interest = 10p
Anothers 9 months interest = 10Q  9 = 90Q
So, Total interest = 10p + 90Q = 10 (p + 9Q)

 Compound interest :
8. There is 60% increase in an amount in 6 years at simple interest. What will be the
compound interest of Rs. 12,000 after 3 years at the same rate? (‡Kvb g~jab 6 eQ‡i 60% e„w×
cvq| GKB nvi Pµe„w× my‡` 12000 UvKvq 3 eQ‡ii my` KZ n‡e?) [janata Bank-(Officer-cash)-2020]+
[Combined 5 Banks (Rejected-(Officer Cash)-2021]
a) 6240 b) 3972 c) 3420 d) 4972 Ans: b
Solution:
Let, the principal = 100, After 6 year amount will be = 160
60  100
So, Total Interest = (160-100) = 60, Rate of Interest = = 10%
6  100
  10  
3
Compound Interest = 12000 × 12000  1    - 12000
  100  
 11 11 11 
=12000 ×     - 12000 = Tk. 3972
 10 10 10 
Alternative Solution (6 eQ‡i 60% n‡j my‡`i nvi = 60%6 = 10%)

Avmj 12000
1g eQ‡ii my` 1200 1g eQ‡ii 1200 Gi 10%
2q eQ‡ii my` 1200 120 2q eQ‡ii 1320 Gi 10% me¸‡jv my` †hvM
3q eQ‡ii my` 1200 120 132 Ki‡j Pµe„w× my` n‡e
†gvU my` 3600 +240 +132 3972 UvKv|
 BIBM MCQ Solution 2020-2023 387 Interest
9. There is 60% increase in an amount in 6 years at simple interest. What will be the
compound interest of Tk. 12,000 after 3 years at the same rate? (‡Kvb GKwU g~jab 6 eQ‡i mij
gybvdvq 60% e„w× cvq| GKB nv‡i 12000 UvKvi 3 eQ‡i Pµe„w× gybvdv KZ n‡e?)
A. Tk. 2160 B. Tk. 3120 C. Tk. 3972 D. Tk. 6240 Ans: C
60%
Solution: Here, interest rate r = = 10% , Principal P = Tk. 12000 and time n = 3 years
6
n
 r 
We know, compound interest = P  1   P
 100 
3 3
 10   110  11  11  11
= 12000  1    12000 = 12000     12000 = 12000   12000
 100   100  10  10  10
= 15972 – 12000 = Tk.3972
 gy‡L gy‡L Kivi Rb¨ Gfv‡e fveyb|
Avm‡ji my` my‡`i my` my‡`i my` my‡`i my‡`i my`
Principal 12000
1st year 1200 1g 1200 UvKvi
c‡ii 2 eQ‡ii my`
2nd year 1200 120 2q 1200 UvKvi c‡ii 1 2q eQ‡ii 120
eQ‡ii my` UvKvi 3q eQi my`
3rd year 1200 120 120 12
Interest 3600 240 120 12
Total Interest: 3600+240+120+12 = Tk. 3972 [Gfv‡e wn‡me Kiv Lye mnR]
10. The difference between simple and compound interest at 5% annually on a sum of the
10000 at the end of 2 years is-(10000 UvKvi kZKiv evwl©K 5% nvi gybvdvq 2 eQ‡i mij gybvdv Ges
Pµe„w× gybvdvi cv_©K¨ KZ?) (PKB)-(Officer(General)-2021
A. Tk. 25 B. Tk. 50 C. Tk. 100 D. Tk. 250 Ans:A
5
Solution: Simple interest = 10000  2  = 1000
100
  5  
2
  21  21  
C.I= 10000  1    -10000 = 10000     - 10000 = (11025-10000) = Tk.1025
  100     20  20  
So, Difference = Tk.(1025 – 1000) = 25
gy‡L gy‡L: 10000 Gi 5% = 500 Gici Avevi 500 Gi 5% = 25UvKv GB 25 UvKv B DËi|
e¨vL¨v: †h‡nZz cÖ_g eQi mij my` Ges Pµe„w× my‡`i cwigvY mgvb| ZvB cÖ_g eQ‡ii my` 10000 Gi 5% = 500
Gici c‡ii eQi mij my` Avevi 500 UvKv| wKš‘ Pµe„w× my‡`i †ÿ‡Î 10000 Gi 5% = 500 UvKvi mv‡_ cÖ_g
eQ‡ii my` 500 UvKvi 5% = 25UvKv AwZwi³ cv‡e| GB AwZwi³ 25UvKv B n‡”Q cv_©K¨|
11. An amount of money is invested in a saving account for two years. It increases by Tk.
52.50 in two years, after annual compounding at the rate of 10% per year. What is the
amount invested initially?( (wKQz g~jab 2 eQ‡ii Rb¨ mÂqx wn‡m‡e wewb‡qvM Kiv nj| evwl©K 10% Pµe„w×
gybvdvq 2 eQ‡i hw` 52.50 UvKv e„w× cvq| Zvn‡j KZ UvKv wewb‡qvM Kiv n‡qwQj?) [BB-(AD)-2022]
a.Tk. 400 b. Tk. 300 c. Tk. 250 d. Tk. 200 Ans: c
 BIBM MCQ Solution 2020-2023 388 Interest

 Shortcut: 21% = 52.50

Solution: Let, the initial amount = x
2
 10  52.50  100
ATQ, x  1    x = 52.5 (my`vmj-Avmj = e„w×) So, 100% = =Tk.250
 100  21
2
 11  121x 121x  100 x
 x     x = 52.5   x = 52.5  = 52.5 21x = 5250x =250
 10  100 100

12. What will be the difference between simple and compound interest at 10% on a sum of
Tk. 5000 after 5 years? (5000 UvKvi 10% nv‡i 5 eQ‡i mij gybvdv I Pµe„w× gybvdvi cv_©K¨ KZ UvKv?)
PKB-(Officer-Cash)-2021]
A. 45 B. 152 C. 252 D. 552 Ans: D
Solution: (5 eQi _vKvq GB AsKwU †h‡Kvb fv‡eB mgvavb Kiv mgq mv‡cÿ e¨vcvi| GRb¨ GB cÖ‡kœi Ackb †`‡L
c~Y© msL¨v a‡i aviYv K‡i K‡i KvQvKvwQ Ackb wgwj‡q DËi KivB eyw×gv‡bi KvR)
n 5
 r   10 
Compound Interest, = P  1   - 5000 = 5000  1   - 5000
 100   100 
= 8052.55 – 5000 = 3052.55
10
Now, Simple Interest, I = npr = 5  5000  = 2500
100
So, Difference of CI & SI = 3052.55 – 2500 = 552.55  552

13. If the rate of Interest is 10% per annum and is compounded half yearly, the principal of
3
Tk. 4000 in years will amount to-(hw` Pµe„w× my‡`i nvi 6 gvm cici wnmve Kiv nq Ges my‡`i nvi
2
3
10% nq, Zvn‡j 4000 UvKvi eQ‡i †gvU KZ UvKv n‡e?) [Combined 7 bank-(So)-2019]
2
a. Tk. 4630.00 b. Tk. 4630.50 c. Tk. 4631.50 d. Tk. 4632.00 Ans: b
Solution:
 Shortcut: (‡f‡½ †f‡½ ‡`Lv‡bv n‡jv hv‡Z mn‡R †evSv hvq)
Time Principal Interest Note
1st 6 months 4000 200 200 = 5% Interest on Tk. 4000 only
2nd 6 months 4000+200 200+10 210 = 5% interest on Tk. 4200
rd
3 6 months 4200+210 210+10.5 220.5 = 5 % interest on Tk. 4410
Total Amount: Tk. (4000+200+210+220.5) = Tk. 4630.5 Ans: Tk. 4630.5

14. A sum of money placed at compound interest doubles itself in 4 years. In how many
years will it amount to 8 times itself? (GKwU wbw`©ó cwigvY UvKv Pµe„w× nvi my‡` 4 eQ‡i wظY n‡j| H
wbw`©ó cwigvY UvKv KZ eQ‡i 8 ¸Y n‡e?) [Combined 7 Banks(So-General)-2021]
A.12 years B. 8 years C. 16 years D. 64 years Ans:A
Solution:
Let, The Principal be Tk. P After 4 years Amount will be Tk. 2P
ATQ, P(1+r%) = 2P (1+r%)4 = 2 ........(i) [2 Gi RvqMvq (1+r%)4 emv‡bv hv‡e]
4
 BIBM MCQ Solution 2020-2023 389 Interest
Again, Let, after `n' years Amount will be 8 times
ATQ, P(1+r%)n = 8P
(1+r%)n = 8 (1+r%)n = 23 (1+r%)n = {(1+r%)4}3 [Since, 2 =(1+r%)4 ]
 (1+r%)n = (1+r%)12  n = 12 Ans: 12 years.

15. If a principal P becomes Q in 2 years when the interest R% is compounded half-yearly.

And if the same principle P becomes Q in 2 years when interest S% is compounded
annually, than which of the following is true? (R% lvb¥vwmK Pµe„w× gybvdvvq gyjab P UvKv 2 eQ‡i
Q UvKv nq| Avevi, GKB g~jab P UvKv S% evwl©K Pµe„w× gybvdvq 2 eQ‡i Q UvKv n‡j wb‡Pi †KvbwU mZ¨?)
[Combined 7 Banks(So-General)-2021]
A. R > S B. R = S C. R<S D.None Ans: C
Solution: (GB AsKwU hZUv bv mgvavb K‡i †ei Kivi Zvi †_‡K †ewmK welq †evSvi)
awi, Avmj 100 UvKv Ges evwl©K my‡`i nvi 20% | Zvn‡j 1 eQi ci my`vmj n‡e 100+20 = 120 UvKv|
Avevi GKB g~jab, lvb¥vwmK GKB nv‡i 1 eQ‡ii my`vmj n‡e cÖ_g 6 gv‡mi Rb¨ 100 Gi 110% = 110
Ges c‡ii 6 gv‡mi my` n‡e 110 Gi 10% = 11 myZivs 1 eQi ci my`vmj n‡e 110++11 = 121|
Zvn‡j †evSv hv‡”Q my‡`i nvi hw` mgvb mgvb nq Zvn‡j GKB g~jab Ges GKB mg‡q lvb¥vwmK my‡`i cwigvY Pµe„w× my‡`i
†_‡K †ewk nq Ges GKB Kvi‡Y lvb¥vwmK my`vmj I Pµe„w× my`vm‡ji †_‡K †ewk nq|
Zvn‡j †Kvb Kvi‡Y `ywU my`vmj B mgvb Ki‡Z PvB‡j lvb¥vwmK my‡`i cwigvY Kgv‡Z n‡e| GRb¨ lvb¥vwmK my‡`i nviI Kg
Ki‡Z n‡e|
Dc‡ii cÖkœwU‡ZI my`vmj Dfq †ÿ‡Î mgvb nIqvq lvb¥vwmK my‡`i nvi R% evwl©K my‡`in vi S% ‡_‡K †QvU n‡e| myZivs
DËi: R < S