__CAT, CMAT, XAT, MAT, GMAT, IIFT, SNAP, NMAT By GMAC, ATMA, IBSAT, TS ICET, AP ICET, JEMAT, MAH MBA CET, B-MAT, NIPER JEE MBA, CUSAT CAT, TISSNET, MICAT, KIITEE Management, UPES MET, Karnataka PGCET, KMAT, TANCET, IRMASAT Solved Practice Questions (QA) - Part 1__

### Chapter - Interest

Difficulty Level of Questions - 1 (Out of 3)

## Q.1. Find the compound interest on ₹ 1000 at the rate of 20% per annum for 18 months when interest is compounded half-yearly.

A. ₹ 331

B. ₹ 1331

C. ₹ 320

D. ₹ 325

### Solution:-

## Q.2. Vinay deposited ₹ 8000 in ICICI Bank, which pays him 12% interest per annum compounded quarterly. What is the amount that he receives after 15 months?

A. ₹ 9228.8

B. ₹ 9314.3

C. ₹ 9274.2

D. ₹ 9338.8

### Solution:-

## Q.3. What will be the simple interest on ₹ 700 at 9% per annum for the period from February 5, 1994, to April 18, 1994?

### A. ₹ 12.60

B. ₹ 11.30

C. ₹ 15

D. ₹ 13

### Solution:-

## Q.4. A sum was invested at simple interest for 2 years. It would have fetched ₹ 60 more had it been invested at a 2% higher rate. What was the sum?

A. ₹ 1000

B. ₹ 1300

C. ₹ 2500

D. ₹ 1500

### Solution:-

## Q.5. Shashikant derives an annual income of ₹ 668.25 from ₹ 10000 invested partly 8% p.a. and partly at 5% p.a. simple interest. How much of his money is invested at 5%?

A. ₹ 4225

B. ₹ 5000

C. ₹ 4800

D. ₹ 3725

### Solution:-

## Q.6. What is the rate of simple interest for the first 4 years if the sum of ₹ 360 becomes ₹ 540 in 9 years and the rate of interest for the last 5 years is 6%?

A. 4%

B. 5%

C. 3%

D. 6%

### Solution:-

## Q.7. Sanjay borrowed ₹ 900 at 4% p.a. and 1100 at 5% p.a. for the same duration. He had to pay ₹ 364 in all as interest. What is the time period in years?

A. 5 years

B. 3 years

C. 4 years

D. 2 years

### Solution:-

## Q.8. If the difference between the CI and SI on a certain sum of money is ₹ 72 at 12% per annum for 2 years, then find the amount.

A. ₹ 6000

B. ₹ 5000

C. ₹ 5500

D. ₹ 6500

### Solution:-

## Q.9. The population of Jhumri Talaiya increases by 10% in the first year, it increases by 20% in the second year and due to mass exodus, it decreases by 5% in the third year. What will be its population after 3 years, if today it is 10000?

A. 11540

B. 13860

C. 12860

D. 12540

### Solution:-

## Q. 10. If the difference between the simple interest and compound interest on some principal amount at 20% p.a. for 3 years is ₹ 48, then the principal amount must be

A. ₹ 550

B. ₹ 500

C. ₹ 375

D. ₹ 400

### Solution:-

**Questions Courtesy: How to prepare for Quantitative Aptitude for CAT by Arun Sharma**

## Books I recommend for Quantitative Aptitude:

### 1. How to Prepare for Quantitative Aptitude for CAT by Arun Sharma

### 2. Ace Quantitative Aptitude For Banking and Insurance

### 3. Quantitative Aptitude Quantum CAT by Sarvesh K Verma

### 4. Quantitative Aptitude for Competitive Examinations by R.S. Aggarwal

*Self Typed

*Source- Books, Internet, Self-Analysis