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1.  

Directions (Q 37–40): Ravi invests ₹ 20,000 at 10% simple interest for 3 years. Meena invests ₹ 20,000 at 10% compound interest (compounded annually) for 3 years. Kumar invests ₹ 16,000 at 10% per annum compounded half-yearly for 1 year. Latha invests ₹ 25,000 at 8% compound interest (compounded annually) for 2 years.

How much more interest does Meena earn than Ravi?

Correct Answer: D [₹ 620]

Explanation:

6,620 − 6,000 = ₹ 620 (= 20,000 × 0.01 × 3.1).

2.  
(Use the directions above – Simple & Compound Interest, Q 37–40)
The total interest earned by the four investors is:

Correct Answer: E [₹ 18,420]

Explanation:

6,000 + 6,620 + 1,640 + 4,160 = ₹ 18,420.

3.  
(Use the directions above – Simple & Compound Interest, Q 37–40)
If Kumar's interest were compounded annually instead of half-yearly, his interest would be less by:

Correct Answer: D [₹ 40]

Explanation:

Annual: 1,600; half-yearly: 1,640 → ₹ 40.

4.  
(Use the directions above – Simple & Compound Interest, Q 37–40)
Latha's amount at the end of 2 years is:

Correct Answer: B [₹ 29,160]

Explanation:

25,000 × 1.1664 = ₹ 29,160.

5.  
The difference between CI and SI on ₹ 40,000 at 5% per annum for 3 years is:

Correct Answer: C [₹ 305]

Explanation:

40,000 × (1/400) × 3.05 = ₹ 305.

6.  
A loan of ₹ 42,000 at 10% per annum compound interest is repaid in two equal annual instalments. Each instalment is:

Correct Answer: E [₹ 24,200]

Explanation:

42,000 = x(10/11 + 100/121) = 210x/121 → x = ₹ 24,200.

7.  
A sum lent at 8% per annum simple interest for 4 years earns ₹ 4,800. The compound interest on the same sum at 10% per annum for 2 years is:

Correct Answer: A [₹ 3,150]

Explanation:

P = 4,800/0.32 = 15,000 → CI = 15,000 × 0.21 = ₹ 3,150.

8.  
Quantity I: the CI on ₹ 40,000 at 20% per annum compounded quarterly for 9 months
Quantity II: the SI on ₹ 40,000 at 21% per annum for 9 months

Correct Answer: A [Quantity I > Quantity II]

Explanation:

I: 40,000 × 0.157625 = ₹ 6,305.

9.  
What is the principal?
I. The difference between CI and SI on it for 2 years at 5% per annum is ₹ 30.
II. The simple interest on it for 3 years at 5% per annum is ₹ 1,800.

Correct Answer: C [Either statement alone is sufficient]

Explanation:

I: P = 30/0.0025 = 12,000.

10.  
A sum doubles itself in 3 years at compound interest. In 15 years it will become:

Correct Answer: E [32 times]

Explanation:

15 = 5 × 3 → 2⁵ = 32 times.

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