A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (c

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Question
A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be
Options
A. Rs. 387
B. Rs. 441
C. Rs. 469
D. Rs. 503

Correct Answer

Rs. 441

Explanation

Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs = $8000 x \frac{105}{100} x \frac{105}{100} x \frac{105}{100} - 8000 = Rs . 1261$

Now, C.I for 2 yrs = $8000 x \frac{105}{100} x \frac{105}{100} = Rs . 820$

Hence, the required difference in C.I is 1261 - 820 = Rs. 441

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Compound Interest problems

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1. The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned ?
Options
A. Rs. 11828.80
B. Rs. 19828.80
C. Rs. 9828.80
D. Rs. 19328.80

Discuss

2. Find the compound interest on Rs. 2680 at 8% per annum for 2 years ?
Options
A. Rs. 664.21
B. Rs. 548.68
C. Rs. 445.95
D. Rs. 692.57

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. A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is
Options
A. 6%
B. 4%
C. 5%
D. 7%

Discuss

6. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
Options
A. 3
B. 4
C. 5
D. 6

Discuss

7. If the compound interest on a certain sum at 1623 % to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.
Options
A. 1080
B. 1090
C. 1180
D. 1109

Discuss

8. Simple interest on a certain sum at 7% per annum for 4 years is Rs. 2415. What will be the compound interest on the same principal at 4% per annum in two years?
Options
A. Rs. 704
B. Rs. 854
C. Rs. 893
D. Rs. 914

Discuss

Correct Answer: Rs. 704

Explanation:

We know that,

$S . I . = \frac{PTR}{100} ? P = \frac{S . I x 100}{T x R} And also, C . I = P [{(1 + \frac{R}{100})}^{n} - 1]$

From given data, P = Rs. 8625

Now, C.I = $8625 [{(1 + \frac{4}{100})}^{2} - 1] = 8625 [{(\frac{26}{25})}^{2} - 1] = 8625 [\frac{676}{625} - 1] = 8625 x \frac{51}{625} C . I = Rs . 703.80$

9. Sonika invested an amount of Rs.5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.50 at the end of 2 years ?
Options
A. 6.5%
B. 6%
C. 5%
D. 4.5%

Discuss

10. The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is ?
Options
A. 3 years
B. 4 years
C. 2.5 years
D. 2 years

Discuss

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A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be

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A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be

Compound Interest problems

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