Simple & Compound Interest Quiz | Quantitative Aptitude MCQ Practice for IBPS AFO 2026

1

How many years will it take for amount of Rs. 600 to yield Rs. 120 as interest at 10% per annum of S.I.?

Solution & Explanation T = (SI × 100) ÷ (P × R) = (120 × 100) ÷ (600 × 10) = 2 years.

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2

Shikhar deposited Rs 15000 in a scheme for 2 yrs which offers compound interest at the rate of 10 %. Due to some emergency, he withdrew 12000 at the end of 1st year. How much amount he will get at the end of 2nd year?

Solution & Explanation Amt after 1 yr = 15000×1.1 = 16500. Remaining = 16500 - 12000 = 4500. Final = 4500×1.1 = 4950.

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3

P invested Rs. X in a scheme for 2 year which offered simple at the rate of 15% per annum and Q invested Rs. (X + 2500) in another scheme for same period of time, which offered compound interest at the rate of 20% per annum. If from both scheme P and Q got total interest of Rs. 32550, then find the value of X ?

Solution & Explanation 0.3X + 0.44(X+2500) = 32550 => 0.74X + 1100 = 32550 => 0.74X = 31450 => X = 42500.

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4

Simple interest earned on a principal is Rs. 3200 in 8 years at 5% per annum. The same sum is invested at compound interest for 2 years at the same rate. Find the compound interest earned.

Solution & Explanation Principal = (3200 × 100)/(8 × 5) = Rs. 8000. Compound Interest for 2 years = 8000[(1.05)^2 − 1] = Rs. 820.

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5

If a person invested 6000 at T% S.I for 3 year and same amount at (T + 5)% CI for 2 year and difference between both interest is 60 Rs. then find T ? (in %)

Solution & Explanation Try T=15: SI = 6000×15×3/100 = 2700. CI = 6000×((1.2)^2 - 1) = 6000×0.44 = 2640. Diff = 2700-2640 = 60. Correct.

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Simple & Compound Interest Quiz for IBPS AFO 2026

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