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GRE Mock test Papers for Students
Upon her retirement, Ms. Nirmal Goyal invested ₹13,90,000 in two schemes—‘Faayda’ at 14% p.a. simple interest and ‘Bachat’ at 11% p.a. simple interest. If her total interest over 2 years was ₹3,50,800, find the amount (₹) placed in the ‘Bachat’ scheme.
(a) 6,40,000
(b) 6,50,000
(c) 7,20,000
(d) 7,50,000
(e) None of these
Option a – 6,40,000
Mr. Pritam Monga bequeathed ₹35,00,000 to his two daughters aged 8½ and 16, with the condition that they receive equal amounts on reaching 21 years of age. If the funds were to be invested at 10% p.a. simple interest, how many lakhs of rupees did the elder daughter receive at the time of the will?
(a) 17.5
(b) 21
(c) 15
(d) 20
(e) None of these
Option b – 21
A sum earns simple interest equal to one-ninth of the principal. The time in years equals the annual rate of interest. Find the rate of interest per annum.
(a) 2½
(b) 2-1/3
(c) 3-1/3
(d) 4%
(e) None of these
Option c – 3-1/3
In how many years will ₹2,400 at 10% p.a., compounded half-yearly, grow to ₹2,778.30?
(a) 1½ years
(b) 2½ years
(c) 3½ years
(d) 4½ years
(e) None of these
Option a – 1½ years
At what annual rate of compound interest will a sum double itself in 8 years?
(a) 12.5%
(b) 13.5%
(c) 11.5%
(d) 14.5%
(e) None of these
Option a – 12.5%
An investor’s capital at simple interest amounted to ₹81,500 in 3 years and ₹85,400 in 4 years. Determine the principal amount.
(a) 65,000
(b) 69,000
(c) 69,800
(d) 70,000
(e) None of these
Option c – 69,800
A principal at compound interest yielded ₹400 in the first year and ₹420 in the second year. Find the initial amount invested.
(a) 8,000
(b) 7,500
(c) 8,500
(d) 8,200
(e) None of these
Option a – 8,000
A sum was invested for 3 years at compound interest with annual rates of 5%, 10%, and 20%, respectively. If the amount after 3 years was ₹13,860, determine the principal.
(a) 11,000
(b) 14,000
(c) 12,000
(d) 10,000
(e) None of these
Option d – 10,000
An investment for 2 years at 20% p.a. compound interest would yield ₹482 more if compounded half-yearly instead of annually. Find the principal sum.
(a) 10,000
(b) 20,000
(c) 40,000
(d) 50,000
(e) None of these
Option b – 20,000
A sum grows to ₹6,690 in 3 years and ₹10,035 in 6 years at compound interest. Find the original principal.
(a) 4,360
(b) 4,460
(c) 4,560
(d) 4,660
(e) None of these
Option b – 4,460
If an amount at compound interest doubles in 4 years, in how many years will it become eight times?
(a) 10
(b) 8
(c) 6
(d) 12
(e) None of these
Option d – 12
The difference between simple interest and compound interest (compounded semi-annually) on a sum at 10% p.a. for 2 years is ₹124.05. Determine the principal amount.
(a) 10,000
(b) 12,000
(c) 6,000
(d) 8,000
(e) None of these
Option d – 8,000
A loan of ₹66,000 is to be repaid in two equal yearly instalments at 20% p.a. compound interest. Find the value of each instalment.
(a) 43,200
(b) 48,216
(c) 64,000
(d) 49,200
(e) None of these
Option a – 43,200
If ₹1,00,000 grows to ₹1,60,000 at compound interest in a certain time, then in half that time, ₹10,000 will become
(a) 30,000
(b) 20,000
(c) 40,000
(d) 35,000
(e) None of these
Option d – 35,000
Find the maturity amount if ₹10,000 is invested for 3 years at compound interest with annual rates of 2%, 5%, and 10% for the first, second, and third years, respectively.
(a) 15,781
(b) 11,244
(c) 14,231
(d) 13,658
(e) None of these
Option a – 15,781
A sum earns ₹60 as simple interest at 5% p.a. for 2 years. Find the compound interest for the same period.
(a) 62.40
(b) 61.50
(c) 62
(d) 60.50
(e) None of these
Option b – 61.50
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