HomeQuantitative TechniquesMixed Questions to Practice Simple Interest, Compound Interest, and Profit Loss

# Mixed Questions to Practice Simple Interest, Compound Interest, and Profit Loss

Mixed Questions to Practice Simple Interest, Compound Interest, and Profit Loss

Mixed Questions to Practice Simple Interest, Compound Interest, and Profit Loss

• Amit borrowed Rs. 10000 from Ankit at the simple interest rate. The amount of interest paid back at the end of 5 years is half of the principle amount. Find the rate of interest?

• A flower shop owner made a bouquet with 80 red roses at the rate of Rs. 37/ rose and 67 lilies at the rate of Rs. 76 per lily. This bouquet was sold at the rate of​​ Rs. 11000. Find the profit or less percentage.​​

• Shop A has marked the price of a Jacket​​ at Rs. 7000 and is selling it at a discount of 30%. Shop B has marked the same jacket at Rs. 9000. Find the discount percentage if the selling price in Shop A and shop B are equal.

• Charlie borrowed Rs. 5000 at 5% interest rate compounded annually for 2 years. Find the difference in the interest amount if he would have took the loan at simple interest.

• To sell the TV bought at Rs.67000 at 35% profit, at which price should it be sold?

• If the chocolate bars were bought at the rate of 7​​ bars at​​ Rs.​​ 63 and sold at the rate​​ of 11​​ bars at Rs. 121, calculate the profit or loss percentage​​ for 20 bars?

• Prakhar buys a watch for Rs. 700 and spent Rs. 343 on its repair. If he sold it at a profit of 30%, find the selling price.

• Calculate the amount payable if Rs. 15000 was borrowed for one year at 5% rate of interest compounded quarterly.

• The sum of money borrowed by Pranav grows to Rs. 1000​​ after​​ first year and to Rs. 1400 after 2nd​​ year, at compound interest. ​​ Calculate the rate​​

• Tom took a loan of Rs. 20000 to invest in a business which will yield a profit of 20%. He took the loan for two year compounded annually at the interest rate of 5% per annum. Will Tom have any money left after paying pack?

• Interest = PRT/100

5000 = (10000*R* 5)/100

5000 = 500R

R = 10%

• Cost Price = (80*37)+(67*76)

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 2960+ 5092

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 8052

Selling Price = Rs. 11000

Profit = 11000- 8052

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ Rs. 2948

Profit Percentage = (2948/8052)*100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ​​ 36.6%

• Selling Price at shop A = Selling Price at shop B = 7000 – [(30/100)*7000]

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 7000 – 2100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs.4900

4900 = 9000 – [(x/100)*9000]

4900 = 9000 – 90x

x = 4100/90

​​ ​​​​ = 45.5%

• For compound interest​​

A = P(1+r/100)n

​​ ​​ ​​​​ = 5000 (1+ 5/100)2

​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 5512.5

Interest amount = 5512.5 – 5000​​

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 512.5

For simple​​ Interest

Interest = PRT/100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = (5000* 5*2)/100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 500

Difference = 512.5 – 500 = Rs. 12.5

• Required Selling Price = 67000 + (35/100)*​​ 67000

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 67000 + 23450

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 90450

• Cost price of one chocolate bar = 63/7 = Rs. 9

Selling Price of one chocolate bar = 121/ 11 = Rs.. 11

C.P for 20 chocolates = 20* 9 = Rs. 180

S.P for 20 chocolates =​​ 20* 11 = Rs. 220

Profit​​ Percentage​​ = [(220-180)/180]*100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ​​ 22.2%

• Total C.P. of watch = 700+ 343

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 1043

Selling Price = 1043 + [(30/100 * 1043]

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 1043+ 312.9

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 1355.9​​

• A = P(1+r/100)n

​​ ​​ ​​ ​​​​ = 15000 (1+ 5/100)4

​​ ​​ ​​ ​​ ​​​​ = Rs. 18232.5

• Rate of interest =[(1400- 1000)/1000] *100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = (400/1000) *100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 40%

• Total money Tom will receive after the end of 2 years = 20000 + (20/100) * 20000

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 20000 + 4000

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 24000

Money to be paid pack = A =​​ P (1+r/100)n

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 20000​​ (1+ 5/100)2

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs.​​ 22050

Money still left with Tom = 24000- 22050

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 1950

Read the theory on Simple and Compound Interest here.

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