BANKING & IT : SI & CI, DATE 10/05/2020

1
1414

Answer all the Questions

Banking & IT (SI & CI)


At frontlines media, we believe that education should be free and interesting. So, we provide free online sources, tests, puzzles, quiz for UPSC, Banking, and IT aspirants through our Telegram, Instagram, and Facebook outlets. Please mail us if you want to join and contribute to our outlets. 

Thanks,

Team COC,

Team Frontlines Media.

Banking & IT (SI & CI)

Question 1 of 25.

The difference in simple interest and compound interest on a certain sum of money in 2 years at 10 % p.a. is Rs. 50. The sum is

1. Rs. 10000
2. 6000
3. 5000
4. 2000

5000

If Diff. between SI & CI for 2 years is Rs. x, then Principal = x (100/r)2 P = 50 x (100x100)/(10x10) → P = 5000.

Question 2 of 25.

The difference in simple interest and compound interest on a certain sum of money in 2 years at 18 % p.a. is Rs. 162. The sum is

1. 4000
2. 5200
3. 4250
4. 5000

5000

 If Diff. between SI & CI for 2 years is Rs. x, Principal = x (100/r)2 P = 162 x (100x100)/(18x18) → P = 5000.

Question 3 of 25.

The compound interest on a certain sum of money for 2 years is Rs. 208 and the simple interest for the same time at the same rate is Rs. 200. Find the rate %.

1. 5
2. 6
3. 7
4. 8

8 %

SI = Rs. 200 = Rs. 100 + Rs. 100
CI = Rs. 208 = Rs. 100 + Rs. 108 (In first year SI & CI are equal.)
Therefore, Rs.8 Gap is because of the interest of 1st year interest.
Rs. 8 is interest on Rs. 100, R= (8x100)/(100x1) % ,R = 8%

Question 4 of 25.

The difference between compound interest and simple interest on a certain sum for 2 years at 10 % is Rs. 25. The sum is

1. 1200
2. 2500
3. 750
4. 1250

2500

Apply: Principal = x (100/r)2 where x is the difference in CI & SI for 2 years. ∴ P = 25(100/10)2 = 2500.

Question 5 of 25.

The simple interest on a sum of money for 2 years is Rs. 150 and the compound interest on the same sum at same rate for 2 years is Rs. 155. The rate % p.a. is

1. 16 %
2. 20/3 %
3. 12 %
4. 10 %

20/3 %

SI for 3 years = 150 → SI for 1 years = 75
∴ CI for 1 year = 75. So CI for 2nd year = 80 and SI for 2nd year = 75. Difference = 5 ∴ Rate of interest = (5/75) x 100 = 20/3 %.

Question 6 of 25.

Sahil’s capital is 1/6 times more than Chaya’s capital. Chaya invested her capital at 20 % per annum for 2 years (compounded annually). At what rate % p.a. simple interest should Sahil invest his capital so that after 2 years, they both have the same amount of capital?

1. 11 5/7%
2. 10%
3. 20%
4. 13 5/7%

11 5/7%

Let, the capital of Sahil = 6. ∴ Capital of Chaya = 7
Simple Interest & Compound Solved = 11 5/7%

Question 7 of 25.

Khan borrows some money at the rate of 6% p.a. for the first two years. He borrows the money at the rate of 9% p.a. for the next three years, and at the rate of 14% per annum for the period beyond five years. If he pays a total interest of Rs. 11400 at the end of nine years, how much money did he borrow?

1. 12000
2. 21000
3. 37000
4. 63000

12000

Let ‘x’ be the sum that Khan borrows. Then the total simple interest that Khan pays is the sum of the interests. We can write from the formula of the simple interest, [x×6×2]/100 + [x×9×3]/100 + [x×14×4]/100 = Rs. 11400.

Therefore we can write, 95x/100 = 11400 or x = Rs. 12000 and hence the correct option is A) Rs. 12000.

Question 8 of 25.

The simple interest on a certain sum of money for 2(1/2) years at 12% per annum is Rs. 40 less than the simple interest on the same sum for 3(1/2) years at 10% per annum. Find the sum.

1. 600
2. 666
3. 780
4. 800

800

Let the sum be Rs. a. Then we can write: [{x×10×7}/{100×2}] – [{x×12×5}/{100×2}] = 40.. This can be written as: 7x/20 – 3x/10 = 4o. Therefore we have x = Rs. 800

Hence the sum is Rs. 800 and the correct option is D) Rs. 800.

Question 9 of 25.

A man took a loan from a bank at the rate of 12 % p.a. simple interest. After three years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

1. 12000
2. 11000
3. 15000
4. 14000

15000

 the principal = Rs. [{100×5400}/{12×3}] = Rs. 15000. Thus the correct option is D) Rs. 15000.

Question 10 of 25.

A sum of Rs. 25000 becomes Rs. 27250 at the end of 3 years when calculated at simple interest. Find the rate of interest.

1. 2
2. 3
3. 4
4. 5

3%

Simple interest = 27250 – 25000 = 2250

Time = 3 years.

SI = PTR / 100 → R = SI * 100 / PT

R = 2250 * 100 / 25000 * 3 → R = 3%.

Question 11 of 25.

An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:

1. 10%
2. 10.25%
3. 10.5%
4. Data inadequate

10.25%

S.I. for first 6 months

= Rs. [100 × 10 × 1  / 100 × 2] = Rs.5

S.I. for last 6 months = Rs. [105 × 10 × 1  / 100 × 2] = Rs.5.25

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs.110.25

So, effective rate = (110.25 ⎯ 100) = 10.25%

Question 12 of 25.

If Rs. 5000 amounts to Rs. 5832 in two years compounded annually, find the rate of interest per annum.

1. 6.8%
2. 7.1%
3. 8%
4. 9%

8 %

A = P [1 + (R / 100)]n

→ 5832 = 5000 [1 + (R / 100)]2

→ [1 + (R / 100)]2 = 5832 / 5000

→ [1 + (R / 100)]2 = 11664 / 10000

→ [1 + (R / 100)] = 108 / 100

→ R / 100 = 8 / 100

→ R = 8 %

Thus, the required rate of interest per annum in 8 %

Question 13 of 25.

A sum of Rs. 1000 was lent to two people, one at the rate of 5 % and other at the rate of 8 %. If the simple interest after one year is Rs. 62, find the sum lent at each rate.

1. 400, 600
2. 800, 1200
3. 300, 500
4. 700, 900

400,600

→ Sum lent at 8 % = 1000 – P

Now, according to the question,

SI for 5 % + SI for 8 % = 62

→ (P x 5 x 1 / 100) + ((1000 – P) x 8 x 1 / 100) =62

→ 5 P + 8 (1000 – P) = 6200

→ 5 P + 8000 – 8 P = 6200

→ 3 P = 1800

→ P = 600

Therefore, sum lent at 5 % = P = Rs. 600

Sum lent at 8 % = 1000 – P = Rs. 400

Question 14 of 25.

A sum of Rs. 1000 is to be divided among two brothers such that if the interest being compounded annually is 5 % per annum, then the money with the first brother after 4 years is equal to the money with the second brother after 6 years.

1. 425 and 498
2. 400 and 489
3. 500 and 575
4. 524.38 and 475.62

524.38 and 475.62

→ Money with second brother = Rs. 1000 – P

Now, according to the question,

P [1 + (5 / 100)]4 = (1000 – P) [1 + (5 / 100)]6

→P (1.05)4 = (1000 – P) (1.05)6

→ 0.9070 P = 1000 – P

→ 1.9070 P = 1000

→ P = 524.38

Therefore, share of first brother = Rs. 524.38

Share of second brother = Rs. 475.62

Question 15 of 25.

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:

1. Rs. 120
2. Rs. 121
3. Rs. 122
4. Rs. 123

Rs. 121

Amount
= Rs.1600 x1 +52+ 1600 x1 +5
2 x 1002 x 100
 
= Rs.1600 x41x41+ 1600 x41
404040
 
= Rs.1600 x4141+ 1
4040
 
= Rs.1600 x 41 x 81
40 x 40
 = Rs. 3321.

 C.I. = Rs. (3321 - 3200) = Rs. 121

Question 16 of 25.

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

1. 625
2. 630
3. 640
4. 650

625

Let the sum be Rs. x. Then,

 

C.I. =x1 +42x=676xx=51x.
100625625

 

 

S.I. =x x 4 x 2=2x.
10025

 

 

51x-2x= 1
62525

 

 x = 625.

Question 17 of 25.

An Informal Gathering occurs when a group of people get together in a casual, relaxed manner. Which situation below is the best example of an Informal Gathering?

1. A debating club meets on the first Sunday morning of every month.
2. After finding out about his salary raise, Jay and a few colleagues go out for a quick dinner after work.
3. Meena sends out 10 invitations for a bachelorette party she is giving for her elder sister.
Question 18 of 25.

Which word is the odd man out?

1. hate
2. fondness
3. liking
4. attatchment
Question 19 of 25.

Melt : Liquid :: Freeze :

1. Ice
2. solid
3. condense
4. push
Question 20 of 25.

Look at this series: 80, 10, 70, 15, 60, … What number should come next?

1. 20
2. 25
3. 30
4. 50
Question 21 of 25.

Which word does NOT belong with the others?

1. inch
2. ounce
3. centimeter
4. yard
Question 22 of 25.

When the Principal entered the class, a student………. on the blackboard.

1. Wrote
2. was writing
3. writes
4. is writing
Question 23 of 25.

Select Correct Word

1. Agressive
2. Agrressive
3. Aggressive
4. Aggresive
Question 24 of 25.

My grand father will come here —– a week.

1. with
2. before
3. at
4. within
Question 25 of 25.

The work was completed —– sunset.

1. for
2. in
3. at
4. about

Next question 1 of 25

All 25 questions completed!


Share results:

Banking & IT (SI & CI)

Want more stuff like this?

Get the best viral stories straight into your inbox!
Don`t worry, we don`t spam

Please comment on your experience and your score after completing the test

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here