Simple Interest and Compound Interest DI and Caselets For Upcoming Bank Mains Exam

Simple Interest and Compound Interest DI and Caselets for Upcoming Bank Mains
Exam
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Simple interest and Compound interest
Directions (1 – 5): Study the following information a) Rs. 30000

and answer the questions followed:
b) Rs. 21000
Mr. Bhargav has 3 sons A, B and C. He distributed his
money which is 225000 among 3 of them in ratio 4 : 5 : c) Rs. 25000
6. They invested the money in three different schemes. d) Rs. 28000
Scheme 1 offers 8% simple interest and the minimum
period of investment in this scheme is 2 years. Scheme 2 e) Rs. 24000
offers 10% simple interest but the minimum period of
3. What is the total amount of money with C after 4 years
investment is 4 years. Scheme 3 offers 7% simple
if he invests remaining money in scheme 3?
interest with no minimum period of investment. A
invested 50% of his money in scheme 2 while B and C a) Rs. 116140
invested 30% and 40% of their money respectively in
scheme 1. b) Rs. 111640
1. B invest his remaining money in scheme 2 for 4 years c) Rs. 116640

and then invest the total money in scheme 3 for next 1
d) Rs. 116440
year. What is the total amount he has at the end of 5
years? e) Rs. 113285
a) Rs. 110424 4. What can be the maximum interest A can earn at the
end of 7 years? (A is allowed to shuffle the amount in
b) Rs. 103200
different schemes).
c) Rs. 108450
a) Rs. 24000
d) Rs. 105245
b) Rs. 37440
e) Rs. 102936
c) Rs. 44260.8
2. If A invest half of the remaining money he has in
d) Rs. 37800
scheme 1 and remaining half in scheme 3 for 4 years,
what is the total interest he earns at the end of 4 years? e) None of these
Page 1 of 26
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Exam
5. What is the average amount with B and C at the end of a) Rs. 34000
2 years if they invest their whole amount in scheme 1?
b) Rs. 41000
a) Rs. 101400
c) Rs. 32000
b) Rs. 104400
d) Rs. 64000
c) Rs. 87000
e) None of these
d) Rs. 95700
8. If person lent out money on compound interest to Raj
e) Rs. 82935 and Ram then the total amount of money he gets is –
Directions (6 – 10): Following table shows the data of a) Rs. 23450.75

a person who lent out his money on simple and
b) Rs. 28500.5
compound interest at different rate for different time
to persons. The ratio of amount lent out to Ram, Raj, c) Rs. 27850.5
Sam and Tom is 2 : 3 : 5 and 8. Total amount of
money a person have is Rs. 72000. d) Rs. 21340
Rate of interest Time period e) None of these

Ram 20% 1
Raj 15% 3 9. If person lent out money on simple interest to all then
Sam 36% 8 who will return less simple interest after completion of
Tom 25% 6 period?
a) Tom
6. What is the compound interest calculated half yearly
b) Raj
on amount given to Ram?
c) Ram
a) Rs. 1680
d) Sam
b) Rs. 1760
e) None of these
c) Rs. 2200
10. The difference in simple interest on amount lent to
d) Rs. 2340
Sam and on amount lent to Tom is –
e) None of these
a) Rs. 9600
7. If person lent out total money given to Sam and Tom
b) Rs. 8800
on simple interest to Radha on simple interest at the rate
of interest 20% for 4 year, then what is the profit or loss c) Rs. 10500
he will have?
d) Rs. 7800
Page 2 of 26
Exam
e) None of these deposited by the man in the two schemes is Rs. 24000
and the principal amount deposited in scheme 1 is 2/3rd
Directions (11 – 15)∶ Study the following bar graph more than the principal amount deposited in scheme 4.
carefully and answer the following questions.
a) Rs. 1672
25
20 b) Rs. 1735
20
15 15 c) Rs. 1587
15 12 12
10 d) Rs. 1473
10 7.5 8 7
5 4
5 3 33 e) None of these
2 2
0 13. A man deposited Rs. 30000 in scheme 3 at
Scheme 1 Scheme 2 Scheme 3 Scheme 4 compound interest and the same amount is also deposited
at simple interest in scheme 2. By what percentage
Rate of SI per annum
compound interest obtained from scheme 3 is more/less
Rate of CI per annum than the simple interest obtained from schemes 2?
Time period for SI (in years)
a) 9.5%
Time period for CI (in years)
b) 7.5%
11. The amount deposited by a man in scheme 1, scheme c) 11.25%
2, scheme 3 and scheme 4 on simple interest is in the
ratio of 8 : 12 : 6 : 5, respectively. If the total amount d) 8.75%
deposited in all the schemes together by the man is Rs.
e) None of these
31000, then find the ratio of the simple interest earned
from scheme 1 and scheme 2 together to the simple 14. Difference between the simple interest obtained from
interest earned from scheme 3 and scheme 4 together. scheme 2 and simple interest obtained from scheme 3 on
the same principal amount is Rs. 5460. If the same
a) 151 : 240
principal amount is deposited on scheme 4 on simple
b) 312 : 275 interest and compound interest in the ratio of 5 : 2,
respectively then find the total interest earned from
c) 280 : 187 scheme 4.
d) 187 : 312 a) Rs. 11118
e) None of these b) Rs. 12446
12. Find the difference between the compound interest c) Rs. 12466
obtained from scheme 1 and the compound interest
obtained from scheme 4, if the total principal amount d) Rs. 14142
Page 3 of 26
Exam
e) None of these
Principal amount taken from the
15. If a man deposited Rs. 20,000 in scheme 4 on simple bank (In Rs.)
interest and compound interest in the ratio of 3 : 2
120000
respectively and another man deposited Rs. 14,000 in 100000
scheme 1 on simple interest and compound interest in the 100000
ratio of 5 : 2 respectively then find the difference 80000
between the total interest earned by them? 80000
60000
a) Rs. 3960 60000 50000
40000
b) Rs. 4240
40000
c) Rs. 3500
20000
d) Rs. 3900
0
e) Rs. 3800 P Q R S T
Directions (16 – 20): The line graph below shows the
principal amount of loan taken by five persons from a Rate of Interest per annum Number of years
bank. The Bar graph shows the interest rate and the
number of years for which the loan is taken by these five 30
25
persons. Study the data carefully and answer the 25
questions. 20
20
15 12.5
10
10
4 5 5
5 3 3 2
0
P Q R S T
16. Find the difference of interests paid by R and T if R

took the loan at simple interest and T took the loan at
compound interest.
a) Rs. 2000
b) Rs. 2100
c) Rs. 1750
Page 4 of 26
Exam
d) Rs. 1800 20. If the interest charged from everyone is at simple rate
then who will pay the equal amount of interest on the
e) Rs. 2500 sum borrowed?
17. P paid Rs. 17500, Rs. 16250 and Rs. 15000 at the end a) P & S
of 1st, 2nd and 3rd year. Find the amount of money that
P needs to pay at the end of 4th year to clear his due. b) Q & R
(Simple interest rate is applied on the sum.)
c) R & T
a) Rs. 32500
d) S & P
b) Rs. 30000
e) T & Q
c) Rs. 33750
Directions (21 – 23): Anand invested a sum of Rs.
d) Rs. 33000 30000 in three different schemes, first scheme provides
20% interest compounded annually. Second scheme
e) Rs. 31250 provides 40% interest compounded quarterly and the
18. Q paid the borrowed amount in 3 equal instalments third scheme provides 30% simple interest per annum.
(interest is compounded annually). Find the value of each The first, second and third schemes are for 3 years, 1
instalment. year and 2 years respectively. Total interest obtained by
Anand from all three schemes is Rs. 17665.
a) Rs. 20504
21. If Anand kept the amount invested in all the three
b) Rs. 20106 schemes for 1 year only then what is the amount of loss
that has been faced by him? (Ratio of amount invested
c) Rs. 21406
by Anand in three schemes is 4 : 5 : 6)
d) Rs. 19850
a) Rs. 7824
e) Rs. 21208
b) Rs. 7946
19. Find the difference of compound interest and simple
c) Rs. 7736
interest on the sum borrowed by S.
d) Rs. 8084
a) Rs. 12000
e) Rs. 7914
b) Rs. 11200
22. Find the interest obtained from second scheme if the
c) Rs. 13200
ratio of amount invested in scheme 1 and 3 is 2 : 3 and
d) Rs. 12800 the interest obtained by Anand from first scheme is Rs.
5824.
e) Rs. 12500
a) Rs. 7200
Page 5 of 26
Exam
b) Rs. 5842 24. What approximate amount Prashant will receive, if

the interest is compounded yearly for 3 years?
c) Rs. 3310
a) Rs. 24383
d) Rs. 4641
b) Rs. 26900
e) None of these
c) Rs. 28940
23. If the interest obtained by Anand from the first
scheme is Rs. 5824 then find the principal invested in d) Rs. 27850
second and third scheme together.
e) None of these
a) Rs. 20000
Answer: C)
b) Rs. 22000
25. At what rate of simple interest does the amount of
c) Rs. 18000 Peroola become five times his principal in the given
time?
d) Rs. 16000
a) 75%
e) Rs. 15000
b) 85%
Direction (24 – 28): Study the following table
carefully and answer the questions given below: c) 47%
The following table shows the amount invested by five d) 100%

different persons, types of interest, time and rate. Some
values are missing. You have to calculate these values as e) 105%
per data given in the questions. 26. What approximate amount Sachin will receive in two
years; Sachin has invested 30 % more than Shivansh?
Person Principal Type of Time Rate%
interest (in a) Rs. 18735
years)
b) Rs. 16873
Shivansh 12000 Compound - 6
c) Rs. 19368
Peroola - Simple 4 -
d) Rs. 19548
Prashant 25000 Compound 3 5
e) Rs. 19799
Rahul - Simple 5 -
27. If the ratio of principal of Prashant to that of Rahul is
Sachin - Compound 6 4 5 ∶ 6 and the rate of interest of Rahul is 20% more than
that of Prashant, then how much interest Rahul will
receive?
Page 6 of 26
Exam
a) Rs. 9000 30. A man invested an amount in the ratio of 3 : 2 at the

rate of (R/2-0.5)% & (R - 8)% respectively at simple
b) Rs. 8000 interest. If bigger amount invested for two years and man
c) Rs. 9400 gets interest in the ratio of 15 : 16, then find smaller
amount invested for how many years?
d) Rs. 6500
a) 2 years
e) Rs. 8800
b) 3 years
28. What is the principal of Peroola, if he received Rs.
35360 as amount after 4 years. Ratio of the rate of c) 5 years
interest of Shivansh to that of Peroola is 2 : 3? d) 7 years
a) Rs. 23000 e) 11 years
b) Rs. 26000
Directions (31 – 35): Given below is the table which
c) Rs. 25000 shows five different schemes and rate of simple
interest (S.I.) and rate of compound interest (C.I.)
d) Rs. 27000 offered on these schemes.
e) Rs. 28500 Note : All the interest is calculated annually.
Directions (29 – 30): Veer invested Rs. 3400 in a

scheme ‘P’ for two years which offered S.I. at the rate of
R% per annum and gets total interest of Rs. 1088. There
is also another scheme ‘Q’, which offered CI annually at
the rate of (R – 6) %.
29. If a man invested Rs. (2000 + x) in scheme ‘P’ for 2

years and Rs. (1600 + 3x) in scheme ‘Q’ for 2 years and 31. If a sum is invested in scheme B at C.I, then amount
interest gets from scheme P is Rs. 56 more than interest obtained after 2 year from this scheme is 1.44 times the
gets from scheme Q, then find total amount invested in sum invested. Rate of simple interest for scheme A is
scheme ‘Q’? half of the rate of compound interest for scheme B. Find
out the interest earned when 8000 was invested for 2
a) 800 Rs. years in Scheme A at S.I and in Scheme B at C.I for 2
years.
b) 1000 Rs.
a) 5120
c) 1600 Rs.
b) 5000
d) 4000 Rs.
c) 4800
e) 2000 Rs.
Page 7 of 26
Exam
d) Can’t be determined 778688 after 3 year. Find the amount he invested in both
scheme initially.
e) None of these
a) 30,00,000
32. A man invested 10,000 in scheme D at S.I. for 6
years, the interest he obtained is divided into equal b) 40,00,000
halves and invested in two different schemes i.e. scheme
B and scheme C for 4 year each at S.I. If the ratio of c) 20,00,000
interest obtained in both scheme is 3 : 2, then find out the d) 10,00,000
rate of interest in C scheme
e) None of these
a) 10%
35. A sum is invested in scheme C for 5 years at S.I. and
b) 8% then the amount received from it is invested in same
c) 11% scheme for 2 years at C.I. Total amount received after 7
years is194% more than the sum invested initially. Find
d) 5% out the rate of interest in scheme C for S.I.
e) None of these a) 10%
33. A sum is invested in scheme E at S.I. for 2 year and b) 12.5%

then whole amount obtained is invested at C.I. in same
scheme for 2 more years. If same sum would have been c) 15%
invested in scheme D for 4 year with S.I. then, what d) 5%
would have been the ration of amount obtained from
scheme E to the amount obtained from scheme D. e) None of these
a) 27 : 25 Directions (36 – 40): Study the table and answer the

questions that follow.
b) 21 : 23
The given table shows the different interest rates offered
c) 40 : 49 by a bank on different loans.
d) Can’t be determined Interest
Loans Interest type
rate
e) None of these
Simple 1.25%
34. A man invests equal sum in two different schemes, D Below Rs. 10000 Compounded
1%
annually
and E at S.I. for 4 year each. The total interest he got is
Simple 2.75%
invested in the scheme A for 3 year at C.I. Due to some Rs. 10000 – Rs.
Compounded
reason instead of getting interest from scheme A , the 99999 3%
annually
scheme is flopped and sum invested in scheme A is Simple 4.5%
Above Rs. 100000
depreciated each year with same rate, and he got Rs. Compounded 5%
Page 8 of 26
Exam
annually 39. If the interest rates below Rs. 10000 is increased by

40%, by how much percentage will the compound
interest increase in 3 years?
36. A man wants to borrow a loan of Rs. 80000 for 2
years. What will be the difference between the different a) 40%
type of interests?
b) 40.3%
a) Rs. 400
c) 40.6%
b) Rs. 424
d) 40.9%
c) Rs. 440
e) 50%
d) Rs. 472
40. A man needs a loan of Rs. 120000 for 2 years. Which
e) Rs. 496 of the following case will be most beneficial for him?
37. The compound interest on a sum of Rs. 7500 for 2 a) Loan of Rs. 120000 on compound interest
years is what percentage of the simple interest on the
same sum after 3 years? b) Loan of Rs. 120000 on simple interest
a) 27.5% c) Two loans of Rs. 60000 each on compound interest
b) 38.4% d) Two loans of Rs. 60000 each on simple interest
c) 53.6% e) Two loans of Rs. 100000 and Rs. 20000 on simple

interest
d) 69.1%
Directions (41 – 45): Study the graph to answer the
e) 81.2% questions.
38. A man takes 2 loans, one of Rs. 90000 for 4 years at

simple interest and other of Rs. 9000 for 2 years at
compound interest. Find the total interest paid by him.
a) Rs. 9180.9
b) Rs. 9980.0
c) Rs. 10080.9
d) Rs. 10180.9
e) Rs. 10980.9
Page 9 of 26
Exam
a) 17.5
Total Investment (in Rs.Thousand)
of Jigyasa and Ravi in 6 schemes b) 18
84 85
c) 16.5
66 d) 20
62
Total Investment
60
e) 15
42. What is the respective ratio between total amount

26
invested by Jigyasa in schemes O and Q together and
total amount invested by Ravi in the same scheme
together?
M N O P Q R a) 2608 : 1791
Schemes
b) 1791 : 2618
c) 1791 : 2609
Percentage of Jigyasa's investment
d) 1771 : 2509
out of total investment
e) 1781 : 2509
64
60
43. Ravi invested in scheme R for 4 yr. If scheme R
52
offers simple interest at 7% per annum for the first two
% of Investment
40 41 years and then compound interest at 10% per annum

(compound annually) for the 3rd and 4th year, then what
29 will be the interest earned by Ravi after 4 yr?
a) Rs. 10710
b) Rs. 11610
c) Rs. 10242
M N O P Q R
Schemes d) Rs. 11364
e) Rs. 11886
41. Scheme M offers simple interest at a certain rate of
44. Amount invested by Jigyasa in scheme S is equal to
interest (per cent per annum). If the difference between
the amount invested by him in scheme N. The rate of
the interest earned by Jigyasa and Ravi from scheme M
interest per annum of schemes S and N are same. The
after 8 years is Rs. 4435.20. What is the rate of interest
only difference is scheme S offers compound interest
(per cent per annum)?
Page 10 of 26
Exam
(compounded annually), whereas the scheme N offers 46. Manohar wants to invest money in scheme ll. What
simple interest. If the difference between the between the would be the amount he will get at the end of 2018
interest earned by Jigyasa from both the schemes after 2 starting from 2017 if interest compounded annually?
yr is Rs. 349.92, then what is the nearest integer to rate
of interest? i. He has a capital of 2000.
a) 9 ii. Total amount he will get at the end of 2019 is 3850 if

he invested from the starting of 2017.
b) 5
iii. Rate % of 2018 is 25% of the rate % of 2017 of
c) 13 scheme ll.
d) 11 a) If the data in statement l & ll alone are sufficient and

lll are not sufficient to answer the question;
e) 7
b) If the data in statement l & III alone are sufficient and
45. If scheme O offers compound interest (compounded ll are not sufficient to answer the question;
annually) at 15% per annum, then what is the difference
between interest earned by Jigyasa and Ravi from c) If the data in either ll or lll & l alone are sufficient to
scheme O after 2 yr? answer the question;
a) Rs. 1677 d) If the data in all the statements together are needed;
b) Rs. 1584 e) l, ll and lll together are not sufficient to answer the
question
c) Rs. 1672
47. Two persons Anil and Sunil invested in scheme l and
d) Rs. 1536 lll respectively from 2017 to 2018. Find the ratio of their
e) Rs. 1622 interests if scheme lll compounded half yearly in 2018
and scheme l compounded annually and the principle of
Directions (46 – 50): Study the following table and Sunil is 1.2 times of Anil.
answer the following questions.
a) 82 : 81
Table shows the rate percent of three schemes of three
years 2017, 2018 and 2019. b) 41 : 33
2017 2018 2019 c) 123 : 112

Scheme l 20% 30% 30%
d) Cannot determine
Scheme ll 40% _ 25%
Scheme lll 25% 20% 40% e) None of the above
48. Read the questions and answer the question below.
Page 11 of 26
Exam
Quantity 1: 1000 is invested in scheme l at simple b) 2 : 1

interest for 2017, 2018 and 2019. Half of the amount we
get? c) 3 : 5
Quantity 2: Interest earned by investing in the scheme l d) Can’t be determine

for year 2018 with the sum of 3000. Interest e) None of the above
compounded annually.
50. Three principles are given in the ratio 5 : 3 : 4 and
a) Quantity: I > Quantity: II these are going to invest in scheme l, lll and ll
b) Quantity: I ≥ Quantity: II respectively in 2017. What would be the share of simple
interest of scheme lll out of total Amount?
c) Quantity: I < Quantity: II
a) 5/103
d) Quantity: II ≥ Quantity: I
b) 10/307
e) Quantity I = Quantity II or relation can't be established
c) 15/206
49. Ratio of interest of scheme l in 2017 and scheme lll
in 2019 will be. d) 103/5
a) 1 : 2 e) None of the above
Solution and Detailed Explanation
1. Answer: A) ⇒ 7200 + 21000 = 28200
Total money with Mr. Bhargav = Rs.225000 ∴ Total amount he has after 4 years = Principal + Interest
It is divided among A, B and C in 4 : 5 : 6 ⇒ 75000 + 28200 = 103200
⇒ Amount with B = 5/15 × 225000 He invests this total amount in scheme 3 for 1 year.
⇒ Rs. 75000 Amount he gets after 1 year = P + (P × R × T) ÷ 100
B invest 30% of his money in scheme 1 and remaining in ⇒ 103200 + (103200 × 7 × 1) ÷ 100
scheme 2 for 4 years.
⇒ 110424
Interest he gets after 4 years = (P × R × T) ÷ 100
⇒ {(30/100 × 75000) × 8 × 4} ÷ 100 + {(70 / 100 ×

75000) × 10 × 4) ÷ 100 2. Answer: B)
Total money with Mr. Bhargav = Rs. 225000

Page 12 of 26
Exam
It is divided among A, B and C in 4 : 5 : 6
⇒ Amount with A = 4/15 × 225000 4. Answer: C)
⇒ Rs. 60000 Total money with Mr. Bhargav = Rs. 225000
A invested 50% of his money in scheme 2. It is divided among A, B and C in 4 : 5 : 6
Also, A invest half of the remaining money, i.e., 25% of ⇒ Amount with A = 4/15 × 225000
his money in scheme 1 and 25% in scheme 3 for 4 years
⇒ Rs. 60000
∴ Total simple interest he earns = (P × R × T) ÷ 100
∵ The rate of interest is highest in scheme 2, so to get
⇒ (30000 × 10 × 4) ÷ 100 + (15000 × 8 × 4) ÷ 100 + maximum return, A must invest in scheme 2 for the
(15000 × 7 × 4) ÷ 100 maximum period of time.
⇒ 12000 + 4800 + 4200 = 21000 ∴ A invests in scheme 2 for 4 years.
∴ The interest he earns at the end of 4 years is Rs. 21000. Similarly, he invests in scheme 1 for the next 2 years and
then in scheme 3 for 1 year.
∴ Interest A gets after 4 years = (P × R × T) ÷ 100

3. Answer: C)
⇒ (60000 × 10 × 4) ÷ 100 = Rs. 24000
Total money with Mr. Bhargav = Rs.225000

5. Answer: D)
⇒ Amount with C = 6/15 × 225000
Total money with Mr. Bhargav = Rs. 225000
⇒ Rs. 90000
C invest 40% of his money in scheme 1 and remaining in
scheme 3. ⇒ Amount with B = 5/15 × 225000 = Rs. 75000
Interest he earns in 4 years = (P × R × T) ÷ 100 ⇒ Amount with C = 6/15 × 225000 = Rs. 90000
⇒ {(40/100 × 90000) × 8 × 4} ÷ 100 + {(60 / 100 × Amount B gets after 2 years = P + (P × R × T) ÷ 100
90000) × 7 × 4) ÷ 100
⇒ 75000 + (75000 × 8 × 2) ÷ 100
⇒ 11520 + 15120 = 26640
⇒ Rs. 87000
Total amount he gets after 4 years = principal amount +
interest Amount C gets after 2 years = P + (P × R × T) ÷ 100
⇒ 90000 + 26640 = 116640 ⇒ 90000 + (90000 × 8 × 2) ÷ 100
Page 13 of 26
Exam
⇒ Rs. 104400 Simple Interest = 52000 × 20 × 4/100 = 41600
Average amount with B and C at the end of 2 years = ∴ Loss to him = 105600 – 41600 = Rs. 64000
(87000 + 104400) ÷ 2
⇒ Rs. 95700
8. Answer: C)
Given,
6. Answer: A)
Total money a person has = 72000
Given,
Amount of money lent on compound interest to Ram =
Total money a person has = 72000 72000 × 2/18 = 8000
Amount of money lent on compound interest to Ram = Amount of money lent on compound interest to Raj =
72000 × 2/18 = 8000 72000 × 3/18 = 12000
Rate of interest = 20/2 = 10% Total amount of money gets = 8000(1 + 20/100) +
12000(1 + 15/100)3
Time period = 2 years
= 9600 + 18250.5 = Rs. 27850.5
Required Compound interest = 8000(1 + 10/100)2 – 8000
= Rs. 1680
9. Answer: C)
Let P = Principal, R = rate of interest and N = time

7. Answer: D)
Simple Interest = PNR/100
Amount of money lent to Ram = 72000 × 2/18 = 8000
Amount of money lent to Raj = 72000 × 3/18 = 12000
Amount of money given to Sam = 72000 × 5/18 = 20000
Amount of money given to Tom = 72000 × 8/18 = 32000
Total simple interest when amount given to Sam and
Tom = (20000 × 36 × 8/100) + (32000 × 25 × 6/100) = Simple Interest earned from Ram = 8000 × 20 × 1/100 =
105600 1600
Then, Simple Interest earned from Raj = 12000 × 15 × 3/100 =

5400
Total money given to Sam and Tom = 20000 + 32000 =
52000
Page 14 of 26
Exam
Simple Interest earned from Sam = 20000 × 36 × 8/100 =

57600
Simple Interest earned from Tom = 32000 × 25 × 6/100

= 48000
From above, Ram will return less amount of simple

interest.
10. Answer: A)

∴ Ratio = 8400 : 5610 = 280 : 187

12. Answer: C)
Simple Interest earned from Sam = 20000 × 36 × 8/100 =
57600 Total principal = Rs. 24000
Simple Interest earned from Tom = 32000 × 25 × 6/100 Let the principal deposited in scheme 4 = Rs. x
= 48000
Then the principal for scheme 1 = (1 + 2/3)x = 5x/3
Then,
∴ x + 5x/3 = 24000
Required difference = 57600 – 48000 = Rs. 9600
⇒ 8x/3 = 24000
11. Answer: C)
⇒ x = 9000
∴ Principal deposited in scheme 1 and 4 are Rs. 15000

and Rs. 9000 respectively
Compound interest obtained from scheme 1 = [15000 ×

(1 + 10/100)3] - 15000 = Rs. 4965
Compound interest obtained from scheme 4 = [9000 × (1

+ 20/100)3] - 9000 = Rs. 6552
∴ Required difference = 6552 - 4965 = Rs. 1587
Page 15 of 26
Exam
13. Answer: B)
A = Compound interest from scheme 3 = [30000 × (1 +

15/100)2] - 30000 = Rs. 9675
B = Simple interest from scheme 2 = 30000 × 7.5 ×

4/100 = Rs. 9000
∴ Percentage by which A is more than B = (9675 –

9000)/9000 × 100 = 7.5%
14. Answer: A)
⇒ 6000 + 1324 = Rs. 7324
∴ Required difference = 11224 - 7324 = Rs. 3900
16. Answer: E)
Since R took the loan at simple interest;
Amount of interest paid by R = [80000 × 5 × 5]/100 =

Rs. 20000
Since T took the loan at compound interest;
Amount of interest paid by T = 40000 × [1 + 25/100]2 -

40000 = 62500 - 40000 = Rs. 22500
∴ Difference = Rs. 2500

⇒ 6750 + 4368 = Rs. 11118
17. Answer: C)
15. Answer: D)
Principal = Rs. 60000, r = 12.5%;
SI for 1st year = [60000 × 12.5 × 1]/100 = Rs. 7500
∴ Amount after 1st year = 60000 + 7500 = Rs. 67500
Since Rs. 17500 is paid by P at the end of 1st year;

Page 16 of 26
Exam
∴ Principal for 2nd year = 67500 - 17500 = Rs. 50000 ⇒ 3310x/1331 = 50000
SI for 2nd year = [50000 × 12.5 × 1]/100 = Rs. 6250 ⇒ x = 20105.74 = 20106
∴ Amount after 2nd year = 50000 + 6250 = Rs. 56250 ∴ Value of each instalment = Rs. 20106
Since Rs. 16250 is paid by P at the end of 2nd year;
∴ Principal for 3rd year = 56250 - 16250 = Rs. 40000 19. Answer: D)
SI for 3rd year = [40000 × 12.5 × 1]/100 = Rs. 5000 Principal = Rs. 100000, r = 20%, time = 3 years;
∴ Amount after 3rd year = 40000 + 5000 = Rs. 45000 CI = 100000 × [1 + 20/100]3 - 100000 = Rs. 72800
Since Rs. 15000 is paid by P at the end of 3rd year; SI = [100000 × 20 × 3]/100 = Rs. 60000
∴ Principal for 4th year = 45000 - 15000 = Rs. 30000 ∴ CI - SI = 72800 - 60000 = Rs. 12800
SI for 4th year = [30000 × 12.5 × 1]/100 = Rs. 3750
∴ Amount to be paid after 4th year = 30000 + 3750 = Rs. 20. Answer: C)
33750
Simple interest paid by P = [60000 × 12.5 × 4]/100 = Rs.
30000
18. Answer: B) Simple interest paid by Q = [50000 × 10 × 3]/100 = Rs.

15000
Principal = Rs. 50000, time = 3 years, r = 10%;
Simple interest paid by R = [80000 × 5 × 5]/100 = Rs.
Suppose the principal for each year is P1, P2 and P3 and 20000
the value of each instalment is Rs. x;
Simple interest paid by S = [100000 × 20 × 3]/100 = Rs.
∴ x = P1 × [1 + 10/100] 60000
⇒ P1 = 10x/11 Simple interest paid by T = [40000 × 25 × 2]/100 = Rs.
x = P2 × [1 + 10/100]2 20000
⇒ P2 = 100x/121 ∴ R & Twill pay the equal amount of interest on the sum
borrowed.
x = P3 × [1 + 10/100]3
⇒ P3 = 1000x/1331
21. Answer: A)
Since P1 + P2 + P3 = 50000
Ratio of amount invested by Anand in three schemes is 4
⇒ 10x/11 + 100x/121 + 1000x/1331 = 50000 :5:6
Page 17 of 26
Exam
Since Anand invested total Rs. 30000 in three schemes ⇒ 0.728P1 = 5824
⇒ Amount invested in 3 schemes: Rs. 8000, Rs. 10000 ⇒ P1 = 8000

and Rs. 12000 respectively
⇒ Rs. 8000 is invested in first scheme.
First scheme provides 20% interest compounded
annually Since the ratio of amount invested in scheme 1 and 3 is 2
:3
⇒ Interest from 1st scheme in 1 year = 8000[1 + 20/100]
– 8000 = Rs. 1600 ⇒ Amount invested in third scheme = Rs. 12000
Second scheme provides 40% interest compounded ⇒ Amount invested in second scheme = 30000 – 12000
quarterly – 8000 = Rs. 10000
⇒ Interest from 2nd scheme in 1 year = 10000[1 + Second scheme provides 40% interest compounded
10/100]4 – 10000 = Rs. 4641 quarterly in 1 year
Third scheme provides 30% simple interest per annum ∴ Interest from 2nd scheme = 10000[1 + 10/100]4 –
10000
⇒ Interest from 3rd scheme in 1 year = 12000[30/100] –
12000 = Rs. 3600 ⇒ 10000 × 1.4641 – 10000 = Rs. 4641
⇒ Total Interest = 1600 + 4641 + 3600 = Rs. 9841
Since total interest obtained by Anand from all three 23. Answer: B)
schemes earlier is Rs. 17665 Suppose P1, P2 and P3 are the sum invested in 3 schemes
∴ Amount of loss = 17665 – 9841 = Rs. 7824 Since interest obtained from first scheme is Rs. 5824
First scheme provides 20% interest compounded

22. Answer: D) annually in 3 years
Suppose P1, P2 and P3 are the sum invested in 3 schemes ⇒ P1[1 + 20/100]3 – P1 = 5824
Since interest obtained from first scheme is Rs. 5824 ⇒ P1[1.2]3 – P1 = 5824
First scheme provides 20% interest compounded ⇒ 1.728P1 – P1 = 5824

annually in 3 years ⇒ 0.728P1 = 5824
⇒ P1[1 + 20/100] – P1 = 5824
3
⇒ P1 = 8000
⇒ P1[1.2]3 – P1 = 5824 Since P1 + P2 + P3 = 30000
⇒ 1.728P1 – P1 = 5824 ⇒ P2 + P3 = 30000 – 8000 = Rs. 22000
Page 18 of 26
Exam
∴ Principal invested in second and third scheme together 28. Answer: B)

= Rs. 22000
Rate of interest of Peroola = 6 × (3/2) = 9%
Amount = Rs. 35360

n
24. Amount = P (1 + R/100)
Time = 4 years
∴ Amount received = 25000 × (105/100) = Rs.
3
Let the principal be Rs. P
28940.625 ≈ Rs. 28940
Then, P + (P/100) × 9 × 4 = P(1 + 36/100) = 35360
P = Rs. 26000
25. Answer: D)
Let the principal be Rs. P

29. Answer: D)
Then, Simple Interest = 5P – P = 4P
SI = (P × R × T) /100
⇒ 4P = (P × R × 4) /100
∴ R = 100%
26. Answer: B)
Principal of Sachin = (12000/100) × 130 = Rs. 15600
Amount of Sachin = 15600(1 + 4/100)2 = Rs. 16872.96 ≈

Rs. 16873
27. Answer: A)
30. Answer: B)
Principal of Rahul = (25000/5) × 6 = Rs. 30000
Rate of Interest = (120/100) × 5 = 6%
∴ Interest received by Rahul = (30000 × 6 × 5) /100 =

Rs. 9000
Page 19 of 26
Exam
31. Answer: A)
34. Answer: C)
32. Answer: B)
35. Answer: A)
33. Answer: A)
Page 20 of 26
Exam
= 7500 × 0.0201 = Rs. 150.75
Interest rate for simple interest = 1.25%
Simple interest = (Principal × Rate × Time)/100 = (7500

× 1.25 × 3)/100 = Rs. 281.25
∴ Required percentage = (150.75/281.25) × 100 = 53.6%
38. Answer: C)
Simple interest = (Principal × Rate × Time)/100 =

(90000 × 2.75 × 4)/100 = Rs. 9900
Interest rate for compound interest = 1%
Compound interest = Principal × [(1 + rate/100)Time – 1]

= 9000 × [(1 + 1/100)2 – 1]
36. Answer: D)
= 9000 × 0.0201 = Rs. 180.9
∴ Total interest = 9900 + 180 = Rs. 10080.9
Simple interest = (Principal × Rate × Time)/100 =
(80000 × 2.75 × 2)/100 = Rs. 4400
Interest rate for compound interest = 3% 39. Answer: C)

Compound interest = Principal × [(1 + rate/100)Time – 1] (Principal = P)
= 80000 × [(1 + 3/100)2 – 1]
Initial rate for compound interest = 1%
= 80000 × 0.0609 = Rs. 4872
∴ Required difference = 4872 – 4400 = Rs. 472 = P × [(1 + 1/100)3 – 1] = 0.0303 P
Increased rate = (100 + 40)% of 1 = 1.4%

37. Answer: C) Compound interest = Principal × [(1 + rate/100)Time – 1]
= P × [(1 + 1.4/100)3 – 1] = 0.0426P
Interest rate for compound interest = 1%
Increase in compound interest = 0.0426 P – 0.0303 P =
0.0123 P
= 7500 × [(1 + 1/100)2 – 1]
Page 21 of 26
Exam
∴ % increase = (0.0123 P/0.0303 P) × 100 ≅ 40.6% 41. Answer: C)
As given in chart, total investment by Jigyasa and Ravi

in M = Rs.84000
40. Answer: D)
Percentage of Jigyasa in M = 52%
Case 1:
∴ Amount invested in scheme M by Jigyasa = 52% of
Interest rate = 5% 84000
Total interest = Principal × [(1 + rate/100)Time – 1] = = (52/100) × 84000 = Rs. 43680
120000 × [(1 + 5/100)2 – 1] = Rs. 12300
So, amount invested in scheme M by Ravi = Rs. (84000
Case 2: – 43680) = Rs. 40320
Interest rate = 4.5% As we know that, simple interest on any amount p for a
Total interest = (Principal × Rate × Time)/100 = (120000 time t with rate r is (prt/100)
× 4.5 × 2)/100 = Rs. 10800 Thus, difference between simple interest on amount
Case 3: invested by Jigyasa (=p1) and Ravi(=p2) at a rate r for
time 8 years is given by
Interest rate = 3%
Total interest = 2 × 60000 × [(1 + 3/100)2 – 1] = Rs.

7308
Case 4:
Interest rate = 2.75%
Total interest = (2 × 60000 × 2.75 × 2)/100 = Rs. 6600
Case 5:
Interest rate on Rs. 100000 = 4.5% 42. Answer: C)
Interest rate on Rs. 20000 = 2.75% Amount invested by Jigyasa in schemes O = 40% of
26000
Total interest = (100000 × 4.5 × 2)/100 + (20000 × 2.75
× 2)/100 = 9000 + 1100 = Rs. 10100 = (40/100) × 26000 = Rs. 10400
∴ Taking two loans of Rs. 60000 each on simple interest Amount invested by Jigyasa in schemes Q = 41% of
will be most beneficial 62000
= (41/100) × 62000 = Rs. 25420

Page 22 of 26
Exam
Total amount invested by Jigyasa in schemes O and Q

together = Rs(10400 + 25420) = Rs. 35820
Similarly, Amount invested by Ravi in schemes O =

26000 – 10400 = Rs. 15600
Amount invested by Ravi in schemes Q = 62000 – 25420

= Rs. 36580
total amount invested by Ravi in schemes O and Q

together = Rs(15600 + 36580) = Rs. 52180
Respective ratio between total amount invested by

Jigyasa in schemes O and Q together and total amount
invested by Ravi in the same scheme together = 35820 : Now, total interest earned by Ravi = Rs(4284 + 7325.64)
52180 = 1791 : 2609
= Rs11609.64
≈ Rs11610
43. Answer: B)
We know that, simple interest on any amount p for a

44. Answer: A)
time t with rate r = (prt/100)
We know that, simple interest on any amount p for a
And CI = P [(1 + r/100)t – 1]
time t with rate r = (prt/100)
Amount invested in scheme R by Ravi = (100 – 64)% of
And CI = P [(1 + r/100)t – 1]
85000
Amount invested by Jigyasa in scheme S = amount
= 36% of 85000
invested by him in scheme N = 60% of 66000
= (36/100) × 85000
= (60/100) × 66000 = Rs. 39600
= Rs30600
As given in the question, the rate of interest per annum
Now, according to the question, for the first two years, of schemes S and N are same. The only difference is
scheme R offers simple interest at 7% per annum, scheme S offers compound interest (compounded
therefore annually), whereas the scheme N offers simple interest.
Interest thus earned, SI = (30600 × 7 × 2)/100 = Rs.4284 ∴ InterestS – InterestN = Rs. 349.92
And the amount after 2 years will become = Rs(30600 +

4284) = Rs34884
Now, for the next two years, CI earned by

Page 23 of 26
Exam
46. Answer: C)
From statement l and ll,
Capital is 2000 and amount he gets after investing for 3

years is 3850,
45. Answer: A)
Total interest as percentage = (3850-2000/2000) × 100 =
We know that, compound interest CI on some amount p 92.5%,
at a rate r compounded annually for n years is
By applying successive methodology i.e. X + Y + (X ×
CI = P [(1 + r/100)t – 1] Y/100),
Amount invested by Jigyasa in schemes O = 40% of Let the interest rate for 2nd year be ‘m’, then for year
26000 2017 and 2018 total interest will be,
= (40/100) × 26000 = Rs. 10400 ⇒ 40 + m + 40m/100,
Thus, amount invested by Ravi in schemes O = 26000 – And now successive increase for first two years
10400 = Rs. 15600 (cumulatively) and 3rd year will be 92.5%,
Now, CI for Ravi – CI for Jigyasa ⇒ (40 + m + 40m/ 100) + 25 + (40 + m + 40m/ 100) ×
25/ 100 = 92.5
⇒ m = 10% (rate of 2nd year)
Now overall rate % from 2017 to 2018 will be,
⇒ 40 + 10 + (40 × 10)/ 100 = 54%,
Total amount after 2018 will be 154% of 2000 = 3080.

Page 24 of 26
Exam
From statement I and lll, Hence, option 3 is correct.
Rate % will be 25% of 40 = 10%,
Now overall rate % from 2017 to 2018 will be, 48. Answer: E)
⇒ 40 + 10 + (40 × 10)/ 100 = 54%, For Quantity 1-
Total amount after 2018 will be 154% of 2000 = 3080. Total interest earned by scheme l in year 2017 + 2018 +
2019
Hence, option 3 is correct.
⇒ 20% + 30% + 30% = 80%
Total Amount we get 180% of 1000 = 1800,

47. Answer: C)
And half of the total amount will be 900.
For scheme l,
For Quantity 2-
For two successive years increment,
Total Interest = 3000 × (1 + 30/100) – 3000 = 900.
⇒ X + Y + (XY/ 100),
Hence, option 5 is correct.
⇒ 30 + 20 + 30 × 20/100 = 56%,
Overall 56% increase in these two years.

49. Answer: D)
For scheme lll,
Correct option is option 4 because we cannot find
For the year 2018 two successive increments occur interest ratio without principal value.
because interest compounded half yearly.
⇒ 10 + 10 + 10 × 10/100 = 21% overall increment in

2018, 50. Answer: E)
And now for year 2017 and 2018 simultaneously, Let principles be 5x, 3x and 4x,
⇒ 25 + 21 + (25 × 21)/ 100 = 51.25% Interest = 5x × 20/100 = 1x,
Sunil’s principle = 1.2 × Anil’s principle Amount of 1st principle is 6x,
Sunil : Anil will be 6 : 5 (ratio of investments), For 2nd principle,
Now ratio of interests will be, Interest = 3x × 25/100 = 0.75x,
⇒ 6 × 51.25% : 5 × 56%, Amount = 3.75x,
⇒ 123 : 112 For 3rd principle,

Page 25 of 26
Exam
Interest = 4x × 40/100 = 1.6x, ⇒ 0.75x/ 15.35x = 15/307
Amount = 5.6x, Hence correct option is ‘5’.
Share of interest from scheme lll is 0.75x and total is

amount is 15.35x
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Simple Interest and Compound Interest DI and Caselets for Upcoming Bank Mains

Simple interest and Compound interest

Directions (1 – 5): Study the following information a) Rs. 30000

1. B invest his remaining money in scheme 2 for 4 years c) Rs. 116640

Directions (6 – 10): Following table shows the data of a) Rs. 23450.75

Rate of interest Time period e) None of these

16. Find the difference of interests paid by R and T if R

b) Rs. 5842 24. What approximate amount Prashant will receive, if

The following table shows the amount invested by five d) 100%

a) Rs. 9000 30. A man invested an amount in the ratio of 3 : 2 at the

e) Rs. 28500 Note : All the interest is calculated annually.

Directions (29 – 30): Veer invested Rs. 3400 in a

29. If a man invested Rs. (2000 + x) in scheme ‘P’ for 2

e) None of these a) 10%

33. A sum is invested in scheme E at S.I. for 2 year and b) 12.5%

a) 27 : 25 Directions (36 – 40): Study the table and answer the

annually 39. If the interest rates below Rs. 10000 is increased by

a) 27.5% c) Two loans of Rs. 60000 each on compound interest

b) 38.4% d) Two loans of Rs. 60000 each on simple interest

c) 53.6% e) Two loans of Rs. 100000 and Rs. 20000 on simple

38. A man takes 2 loans, one of Rs. 90000 for 4 years at

42. What is the respective ratio between total amount

40 41 years and then compound interest at 10% per annum

a) 9 ii. Total amount he will get at the end of 2019 is 3850 if

d) 11 a) If the data in statement l & ll alone are sufficient and

2017 2018 2019 c) 123 : 112

48. Read the questions and answer the question below.

Quantity 1: 1000 is invested in scheme l at simple b) 2 : 1

Quantity 2: Interest earned by investing in the scheme l d) Can’t be determine

a) 1 : 2 e) None of the above

Solution and Detailed Explanation

1. Answer: A) ⇒ 7200 + 21000 = 28200

It is divided among A, B and C in 4 : 5 : 6 ⇒ 75000 + 28200 = 103200

⇒ Rs. 75000 Amount he gets after 1 year = P + (P × R × T) ÷ 100

⇒ {(30/100 × 75000) × 8 × 4} ÷ 100 + {(70 / 100 ×

Total money with Mr. Bhargav = Rs. 225000

It is divided among A, B and C in 4 : 5 : 6

⇒ Amount with A = 4/15 × 225000 4. Answer: C)

⇒ Rs. 60000 Total money with Mr. Bhargav = Rs. 225000

A invested 50% of his money in scheme 2. It is divided among A, B and C in 4 : 5 : 6

⇒ 12000 + 4800 + 4200 = 21000 ∴ A invests in scheme 2 for 4 years.

∴ Interest A gets after 4 years = (P × R × T) ÷ 100

It is divided among A, B and C in 4 : 5 : 6

⇒ 90000 + 26640 = 116640 ⇒ 90000 + (90000 × 8 × 2) ÷ 100

⇒ Rs. 104400 Simple Interest = 52000 × 20 × 4/100 = 41600

Let P = Principal, R = rate of interest and N = time

Then, Simple Interest earned from Raj = 12000 × 15 × 3/100 =

Simple Interest earned from Sam = 20000 × 36 × 8/100 =

Simple Interest earned from Tom = 32000 × 25 × 6/100

From above, Ram will return less amount of simple

Let P = Principal, R = rate of interest and N = time

Simple Interest = PNR/100

Amount of money given to Tom = 72000 × 8/18 = 32000

∴ Principal deposited in scheme 1 and 4 are Rs. 15000

Compound interest obtained from scheme 1 = [15000 ×

Compound interest obtained from scheme 4 = [9000 × (1

∴ Required difference = 6552 - 4965 = Rs. 1587

A = Compound interest from scheme 3 = [30000 × (1 +

B = Simple interest from scheme 2 = 30000 × 7.5 ×