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- Question
The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is
Options- A. Rs.2
- B. Rs.3
- C. Rs.4
- D. Rs.5
- Correct Answer
- Rs.3
ExplanationS.I. = Rs.(1200*10*1)/100=rs.120
C.I. =rs[1200*(1+5/100)2-1200]=rs.123
Difference = Rs.(123-120) =Rs.3
- 1. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time
Options- A. Rs.51.25
- B. Rs.61.25
- C. Rs.51
- D. Rs.42 Discuss
- 2. What is the rate of compound interest? I. The principal was invested for 4 years. II. The earned interest was Rs. 1491.
Options- A. I alone sufficient while II alone not sufficient to answer
- B. II alone sufficient while I alone not sufficient to answer
- C. Either I or II alone sufficient to answer
- D. Either I or II alone sufficient to answer Discuss
- 3. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Options- A. 3years
- B. 2years
- C. 4years
- D. 6years Discuss
- 4. What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?
Options- A. 2.04
- B. 3.04
- C. 4.04
- D. 5.04 Discuss
- 5. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.
Options- A. Rs.2522
- B. Rs.2422
- C. Rs.3522
- D. Rs.2322 Discuss
- 6. The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money?
Options- A. Rs.7200
- B. Rs.9600
- C. Rs.16400
- D. Rs.8400 Discuss
- 7. An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200
Options- A. I alone sufficient while II alone not sufficient to answer
- B. alone sufficient while I alone not sufficient to answer
- C. Both I and II are not sufficient to answer
- D. Both I and II are necessary to answer Discuss
- 8. If you deposit $6500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years?
Options- A. 11358.24
- B. 12334
- C. 15789
- D. 12386 Discuss
- 9. How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years?
Options- A. 9007
- B. 4007
- C. 7007.08
- D. 8oo7 Discuss
- 10. You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.
Options- A. 309
- B. 409
- C. 609
- D. 509 Discuss
Compound Interest problems
Search Results
Correct Answer: Rs.51.25
Explanation:
Sum = Rs.(50*100)/2*5=Rs.500
Amount=Rs.[500*(1+5/100)2]
= Rs. 551.25
C.I = Rs.(551.25-500)= Rs.51.25
Correct Answer: Either I or II alone sufficient to answer
Correct Answer: 2years
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000*(1+7/100)^n=34347
n= 2 years
Correct Answer: 2.04
Explanation:
C.I. when interest
compounded yearly=rs.[5000*(1+4/100)(1+1/2*4/100)]
= Rs. 5304.
C.I. when interest is
compounded half-yearly=rs.5000(1+2/100)^3
= Rs. 5306.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04
Correct Answer: Rs.2522
Explanation:
Principal = Rs.16,000;
Time=9 months = 3 quarters;
Amount
=Rs.[16000x(1+5/100)³] =[16000x21/20x21/20x21/20]
= Rs.18522.
C.I
= Rs.(18522 - 16000)
= Rs.2522.
Correct Answer: Rs.16400
Correct Answer: Both I and II are necessary to answer
Explanation:
Given: T = 3 years.
I. gives: R = 8% p.a.
II. gives: S.I. = Rs. 1200.
Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.
Difference between C.I. and S.I. may be obtained.
So, the correct answer is (D).
Correct Answer: 11358.24
Explanation:
FV=P(1+r/n)^nt
Correct Answer: 7007.08
Explanation:
FV=P(1+r/n)^nt
Correct Answer: 309
Explanation:
A = P + Prt
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