CMAT Simple Interest and Compound Interest Practice Questions With Solutions

Ravi took a loan from HDBC Bank for his 2-year MBA program at IIM. He took the loan of t 6 lakh such that he would be charged at 8% per annum compound interest during his program and at 10% per annum compound interest after completion of course. He returned half of the amount which he had to pay on the completion of his program and remaining after 2 years. What is the total amount returned by Ravi?

Equal amounts of each ₹ 1,000 is lent to two persons for 3 years one @ 30% simple interest and second at 30% compound interest annually. By how much percent is the compound interest greater than the simple interest received in this 3 years duration.

A certain amount of money at compound interest grows to ₹66,550 in 3 years and ₹73,205 in 4 years. The rate percent per annum is :

Ramesh invests ₹1,200 at 5 % simple interest. How much additional money must he invest at 8 % simple interest so that his total annual income will be equal to 6 % of his total investment during this year ?

Given below are two statements :
Statement I: A savings account at Bank A pays 6.2% interest, compounded annually. Bank B's savings account pays 6% compounded semi-annually. Bank B is paying less total interest each year.
Statement II: A sum of money at a certain rate of compound interest doubles in 3 years. In 9 years, it will be P times original principal. Then P = 9.
In the light of the above statements, choose the correct answer from the options given below.

A certain sum of money earns a simple interest of ₹ 800 over 2-year period. The same sum of money invested at the same rate of interest and same period on a compound interest basis earns an interest of ₹ 900. What is the sum?

The simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is ₹6500. What would be the compound interest accrued on that principal at the rate of 8% per year in 2 years?

A man borrows Rs 4000 at 15% compound interest. At the end of each year, he pays back Rs 1500. How much additional amount is required to pay at the end of third year to clear all his dues :

The difference between the compound interest and simple interest for two years on a certain sum at a certain rate of interest is Rs. 64. The compound interest for two years is Rs. 704. The principal is

The difference between the compound interest and simple interest for the amount Rs 5000/- in 2 years is Rs. 32. Then the rate of interest per annum is: