CA FOUNDATION

SAMPURNA FASTRACK
QUANTITATIVE APTITUDE DPP: 1

MATHEMATICS OF FINANCE

Q1 If P = ₹4, 500, A = ₹7, 200, then Simple Q6 A man deposited ₹8,000 in a bank for 3 years
interest i.e. I will be at 5% per annum at compound interest. After 3
(A) ₹ 2000 (B) ₹ 3000 years, he will get
(C) ₹ 2500 (D) ₹ 2700 (A) ₹9000 (B) ₹8800
(C) ₹9200 (D) ₹9261
Q2 P = ₹10, 000, I = ₹2, 500, R = 12
1

2
% S. I.

The numbers of years (T) will be Q7 A sum amount to ₹1331 at a principal of ₹1,000
(A) 1 1
years (B) 2 years at 10% compounded annually. Find the time.
2

(C) 3 years (D) none of these (A) 3.31 years (B) 4 years
(C) 3 years (D) 2 years
Q3 The sum required to earn a monthly interest of
₹1,200 at 18% per annum S.I. is Q8 Simple interest on ₹2,000 for 5 months at 16%
(A) ₹50,000 (B) ₹60,000 p.a. is _________ .
(C) ₹80,000 (D) None of these (A) ₹133.33 (B) ₹133.26
(C) ₹134.00 (D) ₹132.09
Q4 A sum of money double itself in 10 years. The
number of years it would treble itself is: Q9 P = ₹12, 000, A = ₹16, 500 , T = 2
1

2
years.
(A) 25 years (B) 15 years Rate percent per
(C) 20 years (D) None annum for simple interest will be
(A) 15% (B) 12%
Q5 If a simple interest on a sum of money at 6%
(C) 10% (D) none of these
p.a. for 7 years is equal to twice of simple
interest on another sum for 9 years at 5% p.a. Q10 ₹100 will becomes after 20 years at 5% p.a
The ratio will be: compound interest of
(A) 2 : 15 (B) 7 : 15 (A) ₹250 (B) ₹205
(C) 15 : 7 (D) 1 : 7 (C) ₹163.33 (D) none of these

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Answer Key
Q1 (D) Q6 (D)

Q2 (B) Q7 (C)

Q3 (C) Q8 (A)

Q4 (C) Q9 (A)

Q5 (C) Q10 (C)

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Hints & Solutions

Q1 Text Solution: 1200 =
P ×18×1

100×12

Given: P = ₹4,500, A = ₹7,200 ⇒ 1200 =

3×P

200
We know that,
⇒ 1200 × 200 = P × 3
Amount = Principal + Interest 1200×200
⇒ P =
⇒ Interest = Amount - Principal 3

⇒ P = ₹80, 000
= ₹7,200 - ₹4,500
Therefore, the required sum is ₹80,000.
= ₹2,700
Hence, the correct answer is option (C) i.e.,
Thus, the simple interest (I) is ₹2,700.
₹80,000.
Hence, the correct option is (D) i.e., ₹2,700.

Q4 Text Solution:
Q2 Text Solution:
Let the sum of money be P.
Given:
According to the question,
P = ₹10, 000, I = ₹2, 500 and R = 12
1
%
2
In 10 years, amount will be 2P.
25
=
2
%
⇒ I = A - P = 2P - P = P
We know that, We know that,
….(i)
P ×R×T
I=
I = P ×R×T
100
100

where P = Principal ⇒P=

P ×R×10

100
R = Annual interest rate ⇒ R = 10%
T = Time in years Now, when A = 3P then
Now, on putting all the values in equation (i), we I = 3P -P = 2P
get ∴I=
P ×R×T

100
10000×12.5×T
2500 =
100 ⇒ 2P = P ×10×T

100

⇒ 2500 = 1250T
⇒ T = 20 years
2500
⇒ T =
1250 Hence, the correct answer is option (C) i.e., 20
⇒ T = 2 years.
Therefore, the number of years (T) is 2 years.
Hence, the correct answer is option (B) i.e., 2 Q5 Text Solution:
years. Let P1 be the sum of money at 6% interest for 7
years, then
Q3 Text Solution: P1 × 6 × 7
Interest (I1 ) =
Given that: I = ₹1,200, R = 18% and T = 1
years 42P1
100

12
⇒ I1 = ….. (i)
(monthly interest) 100

Now, let P2 be the sum of money at 5% interest

We know that,
for 9 years, then
I=
P ×R×T

P2 × 5 × 9
Interest (I2 )
100
=
where, R = rate of interest, P = Principal and T = 45P2
100

Time ⇒ I2 =
100
….. (ii)

On putting the given values, we get According to the question,

I1 = 2I2
42P1 45P2
⇒ = 2 ×
100 100
P1 2 × 45
⇒ =
P2 42

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P1 15
⇒ =
P2 7

Hence, the correct answer is option (C ) i.e., Hence, the correct answer is option (A) i.e.
15 : 7 years. ₹133.33

Q6 Text Solution: Q9 Text Solution:

Given: Principal (P)=₹8,000, Rate of interest Given that: P = ₹12, 000, A = ₹16, 500 and
years
1 5
(R)=5% and Time (n)=3 years T = 2
2
=
2

We know that, A = P [1 +
R
]
n
We know that,
100
and I
P×R×T
3 I = A − P =
5
⇒ A = 8000[1 + ] 2
100

3
A = Accumulated amount
1
⇒ A = 8000[1 +
20
]
P = Principal
⇒ A = 8000[
21
]
3
T = Time in years
20

21 21 21 R = Rate of interest per annum

⇒ A = 8000 × × ×
20 20 20
I = 16, 500 − 12, 000 = ₹4, 500
⇒ A = 9261
We have, I
P×R×T
=
Thus, the required amount is ₹9261. 100
12000 ×R× 5
⇒ 4500 =
Hence, the correct answer is option (D) i.e., 2 × 100

⇒ 4500 = 60 × R × 5
₹9261. 4500
⇒ R = = 15%
5 × 60

Q7 Text Solution: Therefore, rate percent per annum is 15% .

Given: Amount =₹1331, Principal =₹1000 and Hence, option (A ) is correct i.e., 15% .
Rate of interest =10%
Q10 Text Solution:
Let the time be n years.
It is given that P = ₹100, R = 5% and n = 20

We know that,
Since, the interest is compounded annually,
Compound interest C . I = P (1 +
R n
) − P
thus 100

R
n P = Principal
A = P [1 + ]
100

n
R = interest rate
10
⇒ 1331 = 1000[1 + ]
100 n = Time (in years)
1331 11 n
5 20
⇒ = [ ] ⇒ C . I = 100(1 + ) − 100
1000 10 100

11 3 11 n ⇒ C . I = 100 × 2.65329 − 100

⇒ [ ] = [ ]
10 10
⇒ C. I = ₹165.33
⇒ n = 3

Therefore, the required time period is 3 years. Therefore, the required sum of money is
Hence, the correct answer is option (C) i.e., 3 ₹165.33 .
years Hence, option (C ) is correct ,i.e ₹165.33 .

Q8 Text Solution:
Given: P=₹2,000, R=16% and T= 5 months =512
years

We know that,
P ×R×T
S. I. =
100

2000×16×5
⇒ S. I =
12×100

⇒ S. I = ₹133. 33

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