18
Q:

# 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?

 A) 3.6 B) 6 C) 18 D) Cannot be determined

Explanation:

Explanation:

Let rate = R% and time = R years.

Then, $\left(\frac{1200*R*R}{100}\right)=432$

$12{R}^{2}=432$

=>${R}^{2}=36⇔R=6$

Q:

Find the compound interest on Rs. 2680 at 8% per annum for 2 years ?

 A) Rs. 664.21 B) Rs. 548.68 C) Rs. 445.95 D) Rs. 692.57

Explanation:

We know Compound Interest = C.I. = P1+r100t - 1

Here P = 2680, r = 8 and t = 2

C.I. = 26801 + 81002-1= 268027252-12= 26802725+12725-1= 2680 5225×225

= (2680 x 52 x 2)/625

= 445.95

Compound Interest = Rs. 445.95

5 31
Q:

The compound interest on Rs. 8000 for 3 year at 10% p.a. is

 A) 2648 B) 2145 C) 2587 D) 2784

Explanation:

8000 × 33.1% = 2648

7 165
Q:

Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5995. What is the SI on the same money at 8% per annum for 6 years ?

 A) Rs. 5989 B) Rs. 6540 C) Rs. 7844 D) Rs. 6789

Explanation:

Given C.I = 5984, R = 20% , T = 2yrs

5984 = $\inline \fn_jvn \small C.I=P\left [ \left ( 1&amp;plus;\left ( \frac{20}{100}\right )^{2} \right )-1 \right ]$

=> P = (5995x25)/11

P = Rs. 13625

Now S.I = PTR/100

SI = (13625 x 8 x 6)/100 = Rs. 6540

18 973
Q:

At a certain rate of interest the compound interest of 3 years and simple interest of 5 years for certain sum of money is respectively Rs. 1513.2 and Rs. 2400. Find the common rate of interest per annum ?

 A) 5% B) 6% C) 4% D) 3%

Explanation:

Given compound interest for 3 years = Rs. 1513.2

and simple interest for 5 years = Rs. 2400

Now, we know that  C.I =

=> 1513.2 =  ...........(A)

And S.I = PTR/100

=> 2400 = P5R/100 ..................(B)

By solving (A) & (B), we get

R = 5%.

14 1083
Q:

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  ?

 A) Rs. 11828.80 B) Rs. 19828.80 C) Rs. 9828.80 D) Rs. 19328.80

Explanation:

Let the sum be Rs. P
P{ ${\left(1+\frac{8}{100}\right)}^{2}$- 1 } = 2828.80

It is in the form of

P(8/100)(2 + 8/100) = 2828.80

P = 2828.80 / (0.08)(2.08)

= 1360/0.08 = 17000

Principal + Interest = Rs. 19828.80

10 1210
Q:

Find the C.I. on Rs. 15,225 for 9 months at 16% per annum compounded quarterly ?

 A) Rs. 1911 B) Rs. 1909 C) Rs. 1901 D) Rs. 1907

Explanation:

P = Rs. 15225, n = 9 months = 3 quarters, R = 16% p.a. per quarter.

Amount = $15225x{\left(1+\frac{4}{100}\right)}^{3}$

= (15225 x 26/25 x 26/25 x 26/25) = Rs. 17126.05

=> C.I. = 17126 - 15625 = Rs. 1901.05.

8 1421
Q:

The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is  ?

 A) 3 years B) 4 years C) 2.5 years D) 2 years

Explanation:

$P{\left(1+\frac{20}{100}\right)}^{n}$ > 2P

Now, (6/5 x 6/5 x 6/5 x 6/5) > 2.

So, n = 4 years.

10 763
Q:

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  ?

 A) Rs. 8840 B) Rs. 8800 C) Rs. 8810 D) None

Explanation:

Amount = $8000{\left(1+\frac{5}{100}\right)}^{2}$

= 8000 x 21/20 x 21/20

= Rs. 8820