The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is

Rs.4000
Rs.500
Rs.600
Rs.800

Correct Answer: Rs.500

Explanation:

Let the sum be Rs. P.

Then,[p(1+10/100)2-p]=525

Sum =Rs.2500

S.I.= Rs.(2500*5*4)/100

= Rs. 500

More Questions from Compound Interest

If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years ?
Calculate the amount on Rs. 1875 for 2 year at 4% per annum, compounded yearly.
A woman invests Rs. 2000 at the start of each year at 5% C.I. per annum. How much will her investments be at the end of the 2nd year?
What is the compound interest (in Rs) for 1 year on a sum of Rs 20000 at the rate of 40% per annum compounding half yearly?
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 thesetwo bonds?
Mr. Mike borrowed Rs. 8500 at 4% per annum C.I. The C.I. compounded annally for 2 years is :
If a sum of Rs.12500 is invested for 1 year at 12% per annum interest being compounded semi-annually, then interest earned is
What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?
Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years? I. The rate of interest is 5 p.c.p.a. II. Simple interest fetched on the same amount in one year is Rs. 600. III. The amount borrowed is 10 times the simple interest in 2 years.
At 3% annual interest compounded monthly, how long will it take to double your money?

Discussion & Comments

No comments yet. Be the first to comment!