Quant New Pattern Questions for SBI PO

As we all know SBI PO is here and we are ready with the 80 days plan in which we provide you daily quizzes on new pattern questions with different topics that will help you to go through this exam.

So, here we are with the Most important questions of Simple and Compound Interest.

Q1. Satish invests Rs. 35,500 in a scheme which earns him simple interest at the rate of 15 p.c.p.a. for two years. At the end of two years he reinvests the principal amount plus interest earned in another scheme which earns him compound Interest at the rate of 20 p.c.p.a. What will be the total interest earned by Satish over the principal amount at the end of 5 years?

(a) Rs. 30,956.80

(b) Rs. 35,017.20

(d) Rs. 44,247.20

(e) None of these

Q2. The simple interest accrued on an amount of Rs. 14,800 at the end of three years is Rs. 6,216. What would be the compound interest accrued on the same amount at the same rate in the same period?

(a) Rs. 6986.1142

(b) Rs. 7042.2014

(d) Rs. 8321.4166

(e) None of these

Q3. Mr. Duggal invested Rs. 20,000 with rate of interest at 20 p.c.p.a. The interest was compounded half yearly for first year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?

(a) Rs. 8,800

(b) Rs. 9,040

(d) Rs. 9,800

(e) None of these

Q4. What will be the compound interest accrued on an amount of Rs. 10,000 at the rate of 20 p.c.p.a. in two years if the interest is compounded half yearly?

(a) Rs. 4,400

(b) Rs. 4,600

(d) Rs. 4,680

(e) None of these

Q5. The difference between the amount of compound interest and simple interest accured on an amount of Rs. 26000 at the end of 3 years is Rs. 2994.134 What is the rate of interest p.c.p.a.?

(d) Cannot be determined

(e) None of these

Q6. The simple interest accrued on an amount of Rs. 22,500 at the end of four years is Rs. 10,800. What would be the compound interest accrued on the same amount at the same rate at the end of two years?

(a) Rs. 14,908

(b) Rs. 5,724

(d) Rs. 8,568

(e) None of these

Q7. The compound interest earned by Suresh on a certain amount at the end of two years at the rate of 8 p.c.p.a was Rs. 1,414.4. What was the total amount that Suresh got back at the end of two years in the form of principal plus interest earned?

(a) Rs. 9,414.4

(b) Rs. 9,914.4

(d) Rs. 8,914.4

(e) None of these

Q8. A sum of money becomes Rs. 13,380 after 3 years and Rs. 20,070 after 6 years on compound interest. The sum (in Rupees) is :

(e) None of these

Q9. A sum of money lent out at compound interest increases in value by 50% in 5 years. A person wants to lend three different sums x, y and z for 10, 15 and 20 years respectively at the above rate in such a way that he gets back equal sums at the end of their respective periods. The ratio x : y : z is

(a) 6 : 9 : 4

(b) 9 : 4 : 6

(d) 6 : 4 : 9

(e) None of these

Q10. A sum of Rs. 91,000 is borrowed at 20% per annum compounded annually. If the amount is to be paid in three equal instalments, the annual instalment will be

(a) Rs. 43,200

(b) Rs. 42,800

(d) Rs. 42,300

(e) None of these

Q11. A sum of money becomes eight times in 3 yr, if the rate is compounded annually. In how much time the same amount at the same compound interest rate will become sixteen times?

(a) 6 yr

(b) 4 yr

(d) 5 yr

(e) None of these

Q12. Sanjay borrowed a certain sum from Anil at a certain rate of simple interest for 2 yr. He lent this sum to Ram at the same rate of interest compounded annually for the same period. At the end of two years, he received Rs. 4200 as compounded interest but paid Rs. 4000 only as simple interest, find the rate of interest.

(e) None of these

Q13. Two friends A and B jointly lent out Rs. 81600 at 4% per annum compound interest. After 2 yr, A gets the same amount as B gets after 3 yr. The investment made by B was

(a) Rs. 40000

(b) Rs. 30000

(d) Rs. 38000

(e) None of these

Q14. A sum of money is accumulating at compound interest at a certain rate of interest. If simple interest instead of compound were reckoned, the interest for the first two years would be diminished by Rs. 20 and that for the first three years by Rs. 61. Find the sum.

(a) Rs. 7000

(b) Rs. 8000

(d) Rs. 6500

(e) None of these

Q15. A man borrows Rs. 4000 from a bank at 7.5% compound interest. At the end of every year, he pays Rs. 1500 as part repayment of loan and interest. How much does he still owe to the bank after three such installments?

(a) Rs. 123.25

(b) Rs. 125

(d) Rs. 469.18

(e) None of these

Answers will be updated soon...

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