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- Question
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
- Correct Answer
- 2years
ExplanationAmount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000*(1+7/100)^n=34347
n= 2 years
- 1. What is the difference between the compound interests on Rs. 5000 for 112 years at 4% per annum compounded yearly and half-yearly?
Options- A. Rs.3.06
- B. Rs.2.04
- C. Rs.3.65
- D. Rs.5.40 Discuss
- 2. 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
- 3. If the amount received at the end of 2nd and 3rd year at compound Interest on a certain Principal is Rs 9,600 and Rs 10,272 respectively, what is the rate of interest (in %)?
Options- A. 7
- B. 8
- C. 6
- D. 5 Discuss
- 4. A bank offers 15% compound interest per half year. A customer deposits Rs 7200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by means of interest is
Options- A. Rs 6803
- B. Rs 850
- C. Rs 3402
- D. Rs 1701 Discuss
- 5. The amount received at 10% per annum compound interest after 3 yrs is Rs 10,648. What was the principal (in Rs)?
Options- A. 8000
- B. 9000
- C. 8500
- D. 7500 Discuss
- 6. 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
- 7. 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
- 8. 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 Discuss
- 9. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
Options- A. 8
- B. 10
- C. 12
- D. 14 Discuss
- 10. 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
Compound Interest problems
Search Results
Correct Answer: Rs.2.04
Explanation:
C.I. when interest compounded yearly
=Rs.5034
C.I. when interest iscompounded half-yearly
= 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: 7
Correct Answer: Rs 3402
Correct Answer: 8000
Correct Answer: Either I or II alone sufficient to answer
Explanation:
Let Principal = Rs. P and Rate = R% p.a. Then,
Amount=
C.I =
Clearly, it does not give the answer
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: Rs.3
Explanation:
S.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
Correct Answer: 8
Explanation:
[15000*(1+r/100)2-15000]-(15000*r*2)/100=96
Rate=8%
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).
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