IBPS PO General Awareness: Simple Interest & Compound Interest questions with solutions

Q1. A sum of 2X is invested at 8% p.a. compound interest. If the compound interest earned after 2 years is ₹820, find X.

1. 25000
2. 26000
3. 27000
4. 28000

Answer: 25000

The question text shows embedded calculation steps: 2X(1.08²) - 2X = 820 → 0.3328X = 820. However 820/0.3328 ≈ 2464, not 25000. This is a corrupted question where the working steps don't match the answer options. The intended answer from the source is 25000, suggesting a different original problem (possibly different principal or interest rate).

Q2. The interest earned when a sum invested at 32% p.a. simple interest for 5 years is ₹2400. The same initial sum when invested at (R + 12)% p.a. compound interest, compounded annually amounts to ₹2535 at the end of two years. Find the value of R.

1. 18
2. 22
3. 26
4. 30

Answer: 18

SI = P×R×T/100: 2400 = P×32×5/100 → P = ₹1500. CI: Amount = P(1+r)² = 2535. 1500(1+r)² = 2535 → (1+r)² = 1.69 → 1+r = 1.3 → r = 30%. So (R+12)% = 30% → R = 18. Note: option 4 '।' in source is a Devanagari punctuation mark — data corruption.

Q3. A man invested a certain amount in scheme A at rate of 15% p.a. for two years and he received total simple interest of ₹7800. The man increased the amount by ₹X and invested in another scheme B on compound interest at rate of 10% p.a. for two years and received ₹6720 as interest. Find the value of X (in ₹).

1. 6000
2. 5000
3. 4000
4. 3000

Answer: 6000

Scheme A: SI = P×15×2/100 = 0.3P = 7800 → P = ₹26000. Scheme B: principal = P+X = 26000+X. CI at 10% for 2 years = (26000+X)[(1.1)²-1] = (26000+X)×0.21 = 6720. 26000+X = 6720/0.21 = 32000. X = 32000-26000 = ₹6000.

Q4. A man invested ₹P at the rate of 16% p.a. on simple interest for 5/2 years. If the man received ₹2000 as interest, then find the value of P.

1. 2500 Rs.
2. 3000 Rs.
3. 4000 Rs.
4. 5000 Rs.

Answer: 5000 Rs.

SI = P×R×T/100 = P×16×(5/2)/100 = P×0.4 = 2000 → P = 2000/0.4 = ₹5000.

Q5. What is the value of R? Statement I: A sum at simple interest becomes ₹4800 in T years at R% and ₹5700 in 9 years at 10% rate. Statement II: The compound interest received after 2 years on ₹2000 at (T+8)% interest is ₹880.

1. I alone is sufficient
2. II alone is sufficient
3. I and II sufficient together
4. Either I or II alone is sufficient

Answer: I and II sufficient together

Statement I: P at 10% for 9 years = 5700. SI for 9 years = 5700-P. P×10×9/100 = 5700-P → 0.9P+P=5700 → P=3000. 3000+3000×R×T/100=4800 → 3000RT/100=1800 → RT=60. Can't find R alone without T. Statement II alone: 2000(1+(T+8)/100)²=2880 → (1+(T+8)/100)²=1.44 → (T+8)%=20% → T=12. Can't find R alone. Together: T=12 from II, R=60/12=5% from I.