Practice test-3 (simple interest& compound interest)

QUANTITATIVE COMPARISON
1.The simple interest on a certain sum for 3 year at 14% per annum is
$210
Quantity A : Sum Quantity B : $500

2.A certain sum of money at simple interest, amounts to $768 in 4 years

& to $832 in 6 years.
Quantity A : Rate percent Quantity B : 6%

3.Mr. Strauss invests $4000, part at 6% and part at 7%. His income from
these investments in one year is $250
Quantity A :Amount invested at 7% Quantity B : 1000
 Practice test-3 (simple interest& compound interest)
MULTIPLE CHOICE QUESTIONS – SELECT ONE ANSWER CHOICE

4.The interest charged on a loan is P $ per $1000 for the first month and Q $
per $1000 for each month after first month. How much interest will be
charged during the first 3 months on a loan of $10,000?

A)30P B)30Q C)9P+2Q D)20P+10Q E)10P+20Q

5.A borrowed $1500 at 4% per annum and $1400 at 5% per annum for the
same period. He paid $390 as total interest. What is the time for which he
barrowed the sum?

A)10years B)3 yearsC)1 year D)2 years E)11 years

6.What is the least number of complete years in which a sum of money put
out at 20% C.I will be more than doubled?

A)1 B)2 C)3 D)4 E)5

 Practice test-3 (simple interest& compound interest)

MULTIPLE CHOICE QUESTIONS – SELECT ONE ANSWER CHOICE

7.A man borrows $3000 for 3 years. A part he barrows at 6%
and the rest at 5 % per anum, and pays a simple interest of
$160 in a year. How much is he barrowed at 6% per anum?
A)$ 500 B)$ 800 C)$ 1000 D)$ 1500 E)$ 2000

MULTIPLE CHOICE QUESTIONS – SELECT ONE OR MORE

CHOICES
8.Difference between C.I and S.I is less than 160 for 2 years
when calculated with rate 20%. Which of the following is the
investment.
A) $ 5000 B)$ 4000 C)$ 3000 D)$ 5500 E)$ 2500
 Practice test-3 (simple interest& compound interest)
MULTIPLE CHOICE QUESTIONS – SELECT ONE OR MORE CHOICES

9.A man invests $5000 for 2 years at certain rate percent and compounded
annually leads a C.I $1050 to $ 4800. What is the rate percent?

A) 5 % B)10 % C)60% D)25% E)45%

10.Which of the following could be the number of complete years in which

a sum of money put out at 20 percent yearly C.I will become more than
double but less than thrice?

A) 2 B)3 C)4 D)5 E)7

11.A certain sum of money at S.I amounts to $1768 in T years & to 1832 in
T + 4 years. If rate % is not more than sum, then which of the following
could be the rate %?

A) 5 B)20 C)32 D)40 E)50

 Practice test-3 (simple interest& compound interest)

NUMERIC ENTRY QUESTIONS

12.The S.I on sum of money is of its principal and number of years is
equal to the rate percent per annum. What is the rate percent?

13. Ram invests $5000 in a bond which give interest at 4% per annum
during the first year, 5% during the second year and 10% during the
third year. How much does he get at the end of third year?

14.If C.I of a certain money for 20th year is $12,000 then find the C.I for
21st year if rate of interest is 12% p.a.

15.A sum of money placed at C.I doubles itself in 3 yrs. In how many
years will the amounts to 8 times itself?
 Practice test-3 (simple interest& compound interest)

1.C 2.B 3.C 4.E 5.B

6.D 7.C 8.C,E 9.B,D 10.C,D

11.A,B,C,D 12.6 13.$6006

14.13,440 15.1000