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ITBP Interest — practice questions

Explore 30 free Interest questions in ITBP Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Interest questions and exercises with answers

Showing questions 1–30 of 30.

The difference between compound interest and simple interest on a sum at 10% per annum for 2 years is Rs 50. The principal amount is:Read the answer and worked solution →What is the difference between the simple interest and compound interest on ₹4500 at 8% per annum for 3 years?Read the answer and worked solution →Complete the idea of a percentageRead the answer and worked solution →Ratios into percentagesRead the answer and worked solution →Order the steps of the unitary methodRead the answer and worked solution →What is the percentage taken OF?Read the answer and worked solution →True or false: percentages and their baseRead the answer and worked solution →Match each comparison to its formRead the answer and worked solution →Common percentage conversionsRead the answer and worked solution →Assertion and reasonRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →Three of these are wrong. Find the one that holds.Read the answer and worked solution →Tap every correct way to express one quarterRead the answer and worked solution →Flip and pair: fraction with percentageRead the answer and worked solution →Spot the one that does not belongRead the answer and worked solution →True or false: the unitary methodRead the answer and worked solution →Ratio, fraction, or percentage?Read the answer and worked solution →Complete the comparison chainRead the answer and worked solution →Percentage of a quantityRead the answer and worked solution →Order the steps: turn a part into a percentageRead the answer and worked solution →Assertion and reason: comparisonsRead the answer and worked solution →Interest, in the banking sense, is best described as:Read the answer and worked solution →A sum of 10,000 is borrowed at 15% per annum simple interest for 2 years. The amount repayable is:Read the answer and worked solution →Find the simple interest on 15,000 at 5% per annum for 2 years.Read the answer and worked solution →Compound interest differs from simple interest because compound interest is calculated on:Read the answer and worked solution →20,000 is borrowed for 2 years at 8% compounded annually. The compound interest is:Read the answer and worked solution →For 10,000 at 10% per annum for 2 years, compound interest exceeds simple interest by:Read the answer and worked solution →Find the simple interest on 5,000 at 8% per annum for 3 years.Read the answer and worked solution →At simple interest, a sum doubles itself in 8 years. The annual rate is:Read the answer and worked solution →For the same principal, rate and a period of one year, compound interest compounded annually is:Read the answer and worked solution →

Worked practice questions

The difference between compound interest and simple interest on a sum at 10% per annum for 2 years is Rs 50. The principal amount is:

  1. Rs 5500
  2. Rs 4000
  3. Rs 4500
  4. Rs 5000
Show answer and solution

Correct answer: D. Rs 5000

1. For 2 years, CI − SI = P × (r/100)². 2. Substitute r = 10: difference = P × (10/100)² = P × 0.01. 3. Set 0.01P = 50, so P = 5000. _Source: RRB Group D (RRC) PYQ, held 27-10-2013, Q.45._

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What is the difference between the simple interest and compound interest on ₹4500 at 8% per annum for 3 years?

  1. ₹88.70
  2. ₹87.70
  3. ₹87.50
  4. ₹85.70
Show answer and solution

Correct answer: A. ₹88.70

1. SI = 4500 × 8 × 3 / 100 = ₹1080. 2. CI: amount = 4500 × (1.08)³ = 4500 × 1.259712 = ₹5668.704, so CI = ₹1168.704. 3. Difference = 1168.704 − 1080 = ₹88.70 (to nearest paisa). _Source: RRB Group D CEN-02/2018 PYQ, Q.18._

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Complete the idea of a percentage

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Missing parts
  1. Answer
    100
    Choices
    1. 100
    2. 10
    3. 1
  2. Answer
    20%
    Choices
    1. 20%
    2. 5%
    3. 25%
Complete the statement
A ratio compares two quantities. A percentage expresses that comparison out of {0}, which is why 5 oranges among 25 fruits is {1}.
A percentage is a comparison expressed out of 100. Source: syllabus Maths, Ch 7 Comparing Quantities.

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More Quantitative Aptitude topics

MensurationMultiplicationNumber PropertiesSimple InterestSquares And RootsPercentagesNumber SystemRatio and Proportion