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- Question
A certain sum amounts to Rs.7350 in 2 years and to Rs.8575 in 3 years.find the sum and rate percent
Options- A. 3400
- B. 4400
- C. 5400
- D. 6400
- Correct Answer
- 5400
ExplanationInterest for 1 year is the same whether it's simple interest or the compound interest.
Now interest of third year = 8575 - 7350 = 1225; means principal for this interest is 7350 if comound interest is takenIf 7350 is the principal interest = 1225
if 100 is the principal interest =(1225/7350) * 100 = 50/3 %
When a thing increases for two successive times the overall increase on initial amount = a + b + (a * b)/100
Therefore overall interest for two years = 50/3 + 50/3 + [(50/3)*(50/3)]/100 = 325/9 %
Therefore amount after 2 years = 100 + 325/9 = 1225/9
If 1225/9 is the amount principal =100
if 7350 is the amount principal =(900/1225)*7350 =5400
So sum = 5400; Rate = 50/3 %
- 1. If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
Options- A. 1261
- B. 1271
- C. 1281
- D. 1291 Discuss
- 2. The difference between the simple interest on a certain sum at the rate of 10%per annum for 2 years and compound interest which is compounded every 6 months is Rs.124.05. what is the principal sum
Options- A. Rs.6000
- B. Rs.8000
- C. Rs.12000
- D. none of these Discuss
- 3. What is the rate of interest p.c.p.a.? I. An amount doubles itself in 5 years on simple interest. II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400. III. Simple interest earned per annum is Rs. 2000
Options- A. I only
- B. II and III only
- C. All I, II and III
- D. I only or II and III only Discuss
- 4. What annual payment will discharge a debt of Rs.7620 due in 3years at 1623 % per annum interest?
Options- A. 5430
- B. 4430
- C. 3430
- D. 2430 Discuss
- 5. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
Options- A. 3.6
- B. 6
- C. 18
- D. Cannot be determined Discuss
- 6. Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly
Options- A. 2422
- B. 2522
- C. 2622
- D. 2722 Discuss
- 7. A sum is being lent at 20 % per annum compound interest.what is the ratio of increase in amount of 4th year to 5th year?
Options- A. 4:5
- B. 5:4
- C. 5:6
- D. can't be determined Discuss
- 8. The compound interest on a sum of money 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 interest and simple interest for 3 years
Options- A. Rs.48
- B. Rs.66.56
- C. Rs.98.56
- D. None of these Discuss
- 9. In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?
Options- A. 1years
- B. 2years
- C. 3years
- D. 4years Discuss
- 10. There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate
Options- A. Rs.4972
- B. Rs.3972
- C. Rs.5972
- D. Rs.2972 Discuss
Compound Interest problems
Search Results
Correct Answer: 1261
Explanation:
Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .
So principal=RS [100*1200]/3*5=RS 8000
Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.
.. C.I. = Rs. (9261 - 8000) = Rs. 1261.
Correct Answer: Rs.8000
Explanation:
Compound Interest on P at 10% for 2 years when interest is compounded half-yearly
=
Simple Interest on P at 10% for 2 years =
Given that difference between compound interest and simple interest = 124.05
=>
P=8000
Correct Answer: I only or II and III only
Explanation:
Thus I only or (II and III) give answer.
Correct answer is (D)
Correct Answer: 3430
Explanation:
Let each installment be Rs.x. Then,
(P.W. of Rs.x due 1 year hence) + (P.W of Rs.x due 2 years hence) + (P.W of Rs. X due 3 years hence) = 7620.
=> x = 3430
Amount of each installment = Rs.3430
Correct Answer: 6
Explanation:
Explanation:
Let rate = R% and time = R years.
Then,
=>
Correct Answer: 2522
Explanation:
Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.
CJ. = Rs. (18522 - 16000) = Rs. 2522
Correct Answer: 5:6
Explanation:
Correct Answer: Rs.98.56
Explanation:
difference in C.I and S.I in 2years =Rs.32
S.I for 1year =Rs.400
S.I for Rs.400 for one year =Rs.32
rate=[100*32)/(400*1)%=8%
difference between in C.I and S.I for 3rd year
=S.I on Rs.832= Rs.(832*8*1)/100=Rs.66.56
Correct Answer: 3years
Explanation:
Principal = Rs. 1000; Amount = Rs. 1331; Rate = 10% p.a. Let the time be n years. Then,
[ 1000 (1+ (10/100))^n ] = 1331 or (11/10)^n = (1331/1000) = (11/10)^3
n = 3 years
Correct Answer: Rs.3972
Explanation:
Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
R= =10% p.a
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
C.I=
=Rs.3972
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