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Compound Interest problems

1. 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

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2. 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

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

3. 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%

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4. 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

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5. Find the C.I. on Rs. 15,225 for 9 months at 16% per annum compounded quarterly ?
Options
A. Rs. 1911
B. Rs. 1909
C. Rs. 1901
D. Rs. 1907

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6. Find the principal if the interest compounded at the rate of 10% per annum for two years is Rs. 420 ?
Options
A. Rs. 2000
B. Rs. 2100
C. Rs. 1900
D. Rs. 2150

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7. Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Albert get on maturity of the fixed deposit ?
Options
A. Rs. 8840
B. Rs. 8800
C. Rs. 8810
D. None

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8. There is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?
Options
A. Rs. 5422
B. Rs. 5489
C. Rs. 3972
D. Rs. 6145

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9. Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest ?
Options
A. 20% p.a
B. 15% p.a
C. 18% p.a
D. 24% p.a

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10. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 1155. The simple interest on the same sum for double the time at half the rate percent per annum is ?
Options
A. Rs. 1100
B. Rs. 5500
C. Rs. 1400
D. Rs. 4120

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