Simple Interest - Quantitative Aptitude (MCQ) questions for Q. 21568

Q.  Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?
- Published on 06 May 16

a. Rs. 520
b. Rs. 480
c. Rs. 420
d. Rs. 200

ANSWER: Rs. 200
 
SI in 2 years = Rs. 20, SI in 1 year = Rs. 10
CI in 2 years = Rs. 21
% rate per annum = [(CI – SI) / (SI in 1 year)] *100
= [(21 – 20) / 20] * 100
= 5 % p.a.
Let the principal be Rs. X
Time = T = 2 years
% rate = 5% p.a.
SI = (PRT/100)
20 = (X*5*2) / 100
X = Rs. 200

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    Discussion

  • Borhanur Rohman   -Posted on 08 May 24
    Simple Interest - Quantitative Aptitude (MCQ) questions for Q. 21568

    The option for principal amount should be Rs.100, and Rate of S.I. is 10% for proper and accurate solution of this question. If 5% is applied to the compound interest formula of this question, the result is inaccurate.
  • suraj   -Posted on 12 Jul 16
    you have mentioned in the formula SI in 1 year .But you have used the value for 2 years.

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