22
Q:

A certain sum is to be divided between A and B so that after 5 years the amount received by A is equal to the amount received by B after 7 years. The rate of interest is 10%, interest compounded annually. Find the ratio of amounts invested by them. 

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Answer:



Q:

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

A) 2648 B) 2145
C) 2587 D) 2784
 
Answer & Explanation Answer: A) 2648

Explanation:

8000 × 33.1% = 2648

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7 152
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
 
Answer & Explanation Answer: B) Rs. 6540

Explanation:

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

 C.I = P1+201002-1

 

5984 = 

 

=> P = (5995x25)/11

 

P = Rs. 13625

 

Now S.I = PTR/100

 

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

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18 945
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%
 
Answer & Explanation Answer: A) 5%

Explanation:

Given compound interest for 3 years = Rs. 1513.2

 

and simple interest for 5 years = Rs. 2400

 

Now, we know that  C.I = P1+R100n - 1

 

=> 1513.2 = P1+R1003 - 1 ...........(A)

 

And S.I = PTR/100

 

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

 

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

 

R = 5%.

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14 1060
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
 
Answer & Explanation Answer: B) Rs. 19828.80

Explanation:

Let the sum be Rs. P
P{ 1+81002- 1 } = 2828.80

 

It is in the form of  a2-b2 = a+ba-b

 

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

 

P = 2828.80 / (0.08)(2.08)

 

= 1360/0.08 = 17000

 

Principal + Interest = Rs. 19828.80

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10 1172
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
 
Answer & Explanation Answer: C) Rs. 1901

Explanation:

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

 

Amount = 15225x1+41003

 

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

 

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

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8 1389
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
 
Answer & Explanation Answer: B) 4 years

Explanation:

P1+20100n > 2P 

 

 

 

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

 

 

 

So, n = 4 years.

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10 741
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
 
Answer & Explanation Answer: D) None

Explanation:

Amount = 80001+51002

 

= 8000 x 21/20 x 21/20 

 

= Rs. 8820

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3 1193
Q:

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 ?

A) 20% p.a B) 15% p.a
C) 18% p.a D) 24% p.a
 
Answer & Explanation Answer: A) 20% p.a

Explanation:

Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 x 240) / (1200) = 20% p.a

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3 1389