Financial Problems-Simple and Compound Interest (CAT (Common Admission Test for IIMs) Quantitative Aptitude): Questions 1 - 3 of 7

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Question number: 1

» Financial Problems » Simple and Compound Interest

MCQ▾

Question

Vimal wants to invest in a plan where he can get some interest every six months. For this, he visits at the main branch of ABC Bank Private Limited, which is situated at New Delhi. He meets Mr Jha at New Delhi office and he shows him a scheme where one gets percent in six months, then, return for investing in next six months and so on. If Vimal plans to invest thousand initially for a month long contract, then, find the amount of interest generated for Vimal at the end of months?

Choices

Choice (4) Response

a.

7060

b.

None of the above

c.

6260

d.

5060

Question number: 2

» Financial Problems » Simple and Compound Interest

MCQ▾

Question

Mr Rakesh wanted to take a loan of Rs. 1,00,000. He went to Indusind Bank to enquire about the same and mutually agreed to take a loan at 8 % p. a which needs to be repaid in 10 years. After sometime, he got to know that PNB is offering the same amount for 4%. If the total amount paid by Rakesh at the end of the tenure is 1,72,000, then, after how many years did Rakesh transferred his loan amount to PNB?

Choices

Choice (4) Response

a.

5 year

b.

6 year

c.

None of the above

d.

4 year

Question number: 3

» Financial Problems » Simple and Compound Interest

MCQ▾

Question

The difference between and at the end of three years is and rate of interest is. Find the principal

Choices

Choice (4) Response

a.

4800

b.

4200

c.

4000

d.

4500

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