Arithmetic

Simple & Compound Interest

Medium

Consider the following statements:

If a sum of money is lent at simple interest, then

(A) money gets doubled in 5 years if the rate of interest is $16\frac{2}{3}\%$ .

(B) money gets doubled in 5 years if the rate of interest is 20%.

(C) money becomes four times in 10 years if it gets doubled in 5 years.

of these statements,

Choose the correct answer from the options given below:

(A) and (C) only

(B) only

(B) and (C) only

✅ Correct Option: 2

Doubling means interest equals principal: $P=\frac{P\times R\times 5}{100}$ , so $R=20\%$ . Hence (B) is true and (A) is false. Under simple interest the same interest accrues each year, so in 10 years the interest is $2P$ and the amount is $3P$ , not $4P$ , making (C) false.

2023: 5 June Shift 2

Find the compound interest on Rs. 42000 for $1\frac{1}{2}$ years at 10% p.a. compounded annually.

2026: 18 May Shift 1

The simple interest accrued on an amount of Rs. 84000 at the end of three years is Rs. 30240. What would be the compound interest accrued on the same amount at same rate in 2 years?

2022: 17 Aug Shift 1

The interest earned on $\rupee 25000$ in 5 years at simple interest is $\rupee 1500$ . What is the rate of interest?

2025: 19 May Shift 1

What is the compound interest earned on Rs. 80,000 at 40% per annum in one year, compounded quarterly?

2026: 12 May Shift 2

Consider the simple interest of the following:

(A) A sum of Rs 1200 at 3% per annum for 3 years.

(B) A sum of Rs 5500 at 7% per annum for 2 years.

(D) A sum of Rs 2000 at 14% per annum for 4 years.

Arrange the above in descending order.

Choose the correct answer from the options given below:

2025: 21 May Shift 1

In what time will the simple interest on ₹2200 at 6% per annum be the same as that on ₹1650 at 9% per annum in 10 years?

Solution

Related questions:

Keyboard Shortcuts

CUET General Test Past Year Questions (Topic-Wise)