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GRE Mock Test Papers for Students
Ms. Nirmal Goyal, on her retirement, invested an amount of Rs. 13,90,000 divided into two different schemes ‘Faayda” and ‘Bachat’ at a simple rate of 14% p.a. and at 11% p.a. respectively. If the total amount of interest earned by her in 2 years was Rs.3,50,800, then find the amount invested (Rs) in Scheme ‘Bachat’.
(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 executed a will for Rs. 35,00,000 in the name of his two daughters aged 8 1/2 and 16 such that they might get equal amounts when each of them attained the age of 21 years. It was desired that this amount must be invested at 10% p.a. simple interest. How many lakhs of Rupees did the elder daughter get at the time of the execution of the will?
(a) 17.5
(b) 21
(c) 15
(d) 20
(e) None of these
Option b – 21
The simple interest on a sum of money is 1/9 of the principal and the number of years is equal to the rate percent per annum. The rate percent per annum is?
(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 a sum of Rs. 2,400 at 10% per annum compounded semí- annually become Rs. 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 rate percent per annum will a sum of money 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%
A sum of money, invested by an investor, at a simple rate of interest in 3 years amounts to INR 81,500 and to INR 85,400 in four years. Find the sum (INR) invested.
(a) 65,000
(b) 69,000
(c) 69,800
(d) 70,000
(e) None of these
Option c – 69,800
A sum is invested at compounded interest being payable annually. The interest for the first two successive years was Rs. 400 and Rs. 420. The sum invested was?
(a) Rs. 8000
(b) Rs. 7500
(c) Rs. 8500
(d) Rs. 8200
(e) None of these
Option a – Rs. 8000
A sum was invested for 3 years interest compounded at 5%, 10%, and 20% respectively. If the sum amounts to Rs. 13,860 after 3 years then find the sum.
(a) Rs. 11,000
(b) Rs. 14,000
(c) Rs. 12,000
(d) Rs. 10,000
(e) None of these
Option d – Rs. 10,000
A sum of money lent at compound interest for 2 years at 20% per annum would earn Rs.482 more, if interest was payable half yearly than payable annually. Find the sum.
(a) Rs. 10,000
(b) Rs. 20,000
(c) Rs. 40,000
(d) Rs. 50,000
(e) None of these
Option b – Rs. 20,000
A sum of money amounts to Rs. 6,690 after 3 years but Rs. 10,035 after 6 years given at compound interest. Find the sum invested.
(a) Rs. 4,360
(b) Rs. 4,460
(c) Rs. 4,560
(d) Rs. 4,660
(e) None of these
Option b – Rs. 4,460
A sum of money placed at compound interest doubles itself in every 4 years. In how many years will it amount to 8 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 every 6 months), on a certain sum of money given at the rate of 10% per annum for two years, is Rs. 124.05. Find the principal sum.
(a) Rs. 10000
(b) Rs. 12000
(c) Rs. 6000
(d) Rs. 8000
(e) None of these
Option d – Rs. 8000
A sum of INR 66,000 was taken as a loan. It is to be repaid in two equal annual installments. If the rate of interest being charged @ 20% is compounded annually then find the value (INR) of each installment.
(a) 43,200
(b) 48,216
(c) 64,000
(d) 49,200
(e) None of these
Option a – 43,200
If in a certain number of years Rs. 1,00,000 amount to Rs. 1,60,000 at compound interest. In half that time Rs. 10,000 will amount to
(a) 30,000
(b) 20,000
(c) 40,000
(d) 35,000
(e) None of these
Option d – 35,000
What will be the final amount if INR 10,000 is placed at compound interest for 3 years if the rate of interest is 2%, 5%, and 10% for the first, second & third years, respectively?
(a) Rs. 15,781
(b) Rs. 11,244
(c) Rs. 14,231
(d) Rs. 13,658
(e) None of these
Option a – Rs. 15,781
Simple interest on a sum of money at 5% per annum for 2 years is Rs. 60. Then compound interest on the same sum of money for the same period will be?
(a) Rs. 62.40
(b) Rs. 61.50
(c) Rs. 62
(d) Rs. 60.50
(e) None of these
Option b – Rs. 61.50
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