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- Question
- A man borrows Rs. 4000 from a bank at 7 1/ 2% compound interest. At the end of every he pays Rs. 1500 as part repayment of loan and interest. How much does he still owe to the bank after there such installments?
Options- A. Rs. 123.25
- B. Rs. 125
- C. Rs. 400
- D. Rs. 469.18
- Correct Answer
- Rs. 123.25
ExplanationBalance = Rs.[{4000 x (1 x 15/2 x 100)3} - {1500 x (1 + 15/2 x 100)2 + 1500 x (1 + 15/2 x 100) + 1500}]
= Rs. 123.25 - 1. The compound interest on a sum for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound and simple interest for 3 years will be?
Options- A. Rs .48
- B. Rs. 66.56
- C. Rs. 98.56
- D. None of these Discuss
- 2. The difference in compound interest and simple interest for 2 years on a sum of money is Rs. 160. If the simple interest for 2 years be Rs. 2880, the rate per cent is?
Options- A. 55/9%
- B. 121/2%
- C. 111/9%
- D. 9% Discuss
- 3. The compound interest of Rs. 20480 at 6 1/ 4% per annum for 2 years 73
days is?
Options- A. Rs. 3000
- B. Rs. 3131
- C. Rs. 2929
- D. Rs. 3636 Discuss
- 4. The difference of compound interest on Rs.800 for 1 year at 20% per annum when compound half yearly and quarterly is?
Options- A. Nil
- B. Rs. 2.50
- C. Rs. 4.40
- D. Rs. 6.60 Discuss
- 5. The compound interest on Rs. 30000 at 7% per annum for a
certain time is Rs. 4347. The time is?
Options- A. 2 years
- B. 21/2 years
- C. 3 years
- D. 4 years Discuss
- 6. A sum of Rs. 550 was taken as a loan. This is to be repaid in two equal annual instalments. if the rate of interested be 20% compound annually then the value of each instalment is?
Options- A. Rs. 421
- B. Rs. 396
- C. Rs. 360
- D. Rs. 350 Discuss
- 7. If the simple interest on certain sum of money be Rs. 40 for 2 years and the compound interest on the same sum at the same rate and for the same time be Rs. 45. What is the principle?
Options- A. Rs. 70
- B. Rs. 90
- C. Rs. 85
- D. Rs. 80 Discuss
- 8. Neeraj saves Rs. 400 at the end of each year and lends this saving at 5% p.a. compound interest, How much will it worth at the end of 3 years?
Options- A. Rs. 1312. 50
- B. Rs. 1284
- C. Rs. 1315
- D. Rs. 1324.05 Discuss
- 9. If a sum of money placed at compound interest becomes 3 times of itself in 3 years. In how many years will it be 9 times at the same rate of interest?
Options- A. 6 years
- B. 9 years
- C. 12 years
- D. 5 years Discuss
- 10. A person invested a certain amount at simple interest at the rate of 6 percent annum earning Rs. 900 as an interest at the end of three years. Had the interest been compounded every year. How much more interest would he have earned on the same amount with the same interest after three years?
Options- A. Rs. 38.13
- B. Rs. 25.33
- C. Rs. 55.08
- D. Rs. 35.30 Discuss
Compound Interest problems
Search Results
Correct Answer: Rs. 98.56
Explanation:
S.I. for first year = Rs. 400
S.I. on Rs .400 for 1 year =Rs. 32
? Rate = (interest x 100)/(principle x time) = (100 x 32)/(400 x 1) = 8%
Hence, the difference for 3rd year is S.I.on Rs. 832
= Rs.(832 x 8/100)
= Rs. 66.56
? Total difference = Rs.(32 + 66.56)
= Rs. 98.56
Correct Answer: 111/9%
Explanation:
? S.I. for 1 year =Rs. 1440
? S.I. on Rs.1440 for 1 year = Rs.160
Hence, ? Rate per cent = (100 x 160) / (1440 x 1) %
= 100/9%
= 111/9%
Correct Answer: Rs. 2929
Explanation:
C.I. = Rs[20480 x(1 +25/4 x 100)2 (1 + 1/5 x 25/4 x 100) - 20480 ]
= Rs.[(20480 x 17/16 x 17/16 x 81/80) - 20480]
= 20480[23409 - 20480/20480]
= Rs .2929
Correct Answer: Rs. 4.40
Explanation:
C.I. when reckoned half yearly
= Rs.[800 x (1 + 10/100)2 - 800]
= Rs. 168
C.I.when reckoned quarterly
= Rs.800[(1 + 5/100)4 - 1]
= 800[(194481 - 160000)/160000]
= 34481/200
= Rs.172.40
? Required difference =Rs.(172.40 - 168)
= Rs.4.40
Correct Answer: 2 years
Explanation:
? 30000 x (1 +7/100)t = 30000 + 4347
? (107/100)t = 34347/30000
?11449/10000 = (107/100)2
? Time = 2 years
Correct Answer: Rs. 360
Explanation:
Let the value of each instalment be Rs. x
Then, {x/(1 + 20/100) + x/(1 + 20/100)2} = 550
? 5x / 6 + 25x / 36 =550
? 55x / 36 = 550
? x = 360
Correct Answer: Rs. 80
Explanation:
S.I. for 2 year = Rs. 40
S.I. for 1 year = Rs. 20
Rate = {(C.I. for 2 year - S.I. for 2 year) / (S.I. for 1 year)} x 100
= {(45 - 40) / 20} x 100 = 25%
? Principal = (S.I. x 100)/(Rate x Time)
= (40 x 100)/(25 x 2)
= Rs. 80
Correct Answer: Rs. 1324.05
Explanation:
Amount after 3 years = 400(1 + 5/100)3 + 400(1 + 5/100)2 + 400(1 + 5/100)
= 400(1+ 5/100) {1+ 5/100)2 + (1 + 5/100) + 1 }
= 400(105/100) {(105/100)2 + (105/100) + 1}
= 400(21/20) {(21/20)2 + 21/20 + 1}
= 400(441/400 + 21/20 + 1)
= 400(441 + 420 + 400/400)
= 420(1261/400)
= Rs.1324.05
Correct Answer: 6 years
Explanation:
Let the principle be P then amount be 3P
? 3P =P(1 + r/100)3
? 3 = (1 + r/100)3
On squaring on both the sides,
? (3)2 = {(1 + r/100)3}2
? 9 = (1 + r/100)6
Hence,it will become 9 times in 6 years.
Correct Answer: Rs. 55.08
Explanation:
Certain sum for the person = (900 x 100)/(6 x 3) =Rs. 5000
? Interest on Rs. 5000 by C.I. = 5000(1 +6/100)3 - 5000 = Rs. 955.08
? More interest =Rs. (955.08 - 900) = Rs. 55.08
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