Interest - Question A Day - CAT 2008
April 30, 2002 � A father left a will of Rs.35 lakhs
between his two daughters aged 8.5 and 16 such that they may get equal amounts
when each of them reach the age of 21 years. The original amount of Rs.35 lakhs
has been instructed to be invested at 10% p.a. simple interest. How much did the
elder daughter get at the time of the will?
Solution �
June 05, 2002 � What will Rs.1500 amount to in three years if it is
invested in 20% p.a. compound interest, interest being compounded annually?
Solution �
July 30, 2002 � If a sum of money grows to 144/121 times when invested
for two years in a scheme where interest is compounded annually, how long will
the same sum of money take to treble if invested at the same rate of interest in
a scheme where interest is computed using simple interest method?
Solution �
August 08, 2002 � The population of a town was 3600 three years back. It
is 4800 right now. What will be the population three years down the li class="text"ne, if the
rate of growth of population has been constant over the years and has been
compounding annually?
Solution �
August 22, 2002 � A man invests Rs.5000 for 3 years at 5% p.a. compound
interest reckoned yearly. Income tax at the rate of 20% on the interest earned
is deducted at the end of each year. Find the amount at the end of the third
year.
Solution �
September 25, 2002 � The difference between the compound interest and
the simple interest on a certain sum at 12% p.a. for two years is Rs.90. What
will be the value of the amount at the end of 3 years?
Solution �
February 10, 2003 � A stairway 10ft high is such that each step accounts
for half a foot upward and one-foot forward. What distance will an ant travel if
it starts from ground level to reach the top of the stairway?
Solution �
May 27, 2003 � A sum of money invested for a certain number of years at
8% p.a. simple interest grows to Rs.180. The same sum of money invested for the
same number of years at 4% p.a. simple interest grows to Rs.120 only. For how
many years was the sum invested?
Solution �
July 9, 2003 � How long will it take for a sum of money to grow from
Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?
Solution �
November 13, 2003 � Rs. 5887 is divided between Shyam and Ram, such that
Shyam's share at the end of 9 years is equal to Ram's share at the end of 11
years, compounded annually at the rate of 5%. Find the share of Shyam.Solution
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March 29, 2004 � The question for the day is from the topic simple and
compound interest. Shawn invested one half of his savings in a bond that paid
simple interest for 2 years and received Rs.550 as interest. He invested the
remaining in a bond that paid compound interest, interest being compounded
annually, for the same 2 years at the same rate of interest and received Rs.605
as interest. What was the value of his total savings before investing in these
two bonds?
Solution �
