CAT2021 || Daily Target Quiz ||Compound Interest || 27.03.2021 (App update required to attempt this test) for CAT & MBA Exams

Question 1

An amount was lent for a year at 2r % per annum compounded annually. If the interest were calculated half-yearly then the interest accrued would be Rs. r more than that if it were calculated annually. Which of the following statements is correct?

Question 2

Mr. Ramaswamy takes a loan or Rs 5000 from a bank at 1% interest per month. Each month he pays back Rs 200 toward the principal plus the monthly interest on the outstanding balance. How much will he have paid in all by the time he has repaid the loan?

Question 3

Diana invested Rs.61,293 in an account with a fixed annual percent of interest, compounding quarterly. At the end of five full years, she had Rs. 76,662.25 in principal plus interest. Approximately what was the annual percent rate of interest for this account?

Question 4

A certain sum of money increased by 72.8% at a certain rate of compound interest which compound annually in three years. If the same sum is lent at the same rate of simple interest, then in how many years would it become four times of itself?

Question 5

Aman gave 50% of his savings of Rs. 168200 to his wife and divided the remaining sum among his sons Aakash and Bahadur of 15 and 13 years of age respectively. He divided it in such away that each of his sons when they attain the age of 18 years, would receive the same amount of 5% compound interest per annum. The share of Bahadur was:

Question 6

Sharad borrows INR 5005 from Aastha and promises to pay back with compound interest @20% p.a. in 3 early equal investments at the end of first, second and third year. Find the amount of each installment?

Question 7

If a sum on compound interest becomes 4 times in 4 years, then with the same interest rate, the sum will become 64 times in

Question 8

A contractor named Rahul kept labourers to build a bridge in which a certain number of male labourers can complete a task in 4 days earlier than certain number of female labourers. Task completed by two male labourers in one hour is same as the task completed by six female labourers in one hour.

Which one of the following ratios of number of male labourers to number of female labourers can satisfy the above given condition?

I. 1 : 2

II. 2 : 3

III. 3 : 4

IV. 7 : 5

Question 9

Ram bought a flat for 2 lakh. Shyam bought a plot of land for 2.5 lakhs. The rates of increase in the prices of the flat and the plot are 25% p. a. and 20% p. a. respectively. Ram and Shyam agreed to exchange their possessions after 2 years under the condition that one would pay the other the difference in the price. Which of the following holds true?

Question 10

The difference between the compound interest and simple interest for two years on a certain sum at a certain rate of interest is 70 Rs. If the compound interest for two years is Rs. 770, Find the initial sum.