24
Q:

A sum is being lent at 20 % per annum compound interest.what is the ratio of increase in amount of 4th year to 5th year?

A) 4:5 B) 5:4
C) 5:6 D) can't be determined

Answer:   C) 5:6



Explanation:

\inline \frac{p\left ( 1+\frac{r}{100} \right )^4}{p\left ( 1+\frac{r}{100} \right )^5}=\frac{1}{\left ( 1+\frac{r}{100} \right )}

                    = \inline \frac{100}{100+r}=\frac{100}{120}  = \inline \frac{5}{6}

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 } = 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

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3 113
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 =

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

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

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2 104
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:

> 2P or > 2

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

So, n = 4 years.

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5 80
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 = 

= 8000 x 21/20 x 21/20 

= Rs. 8820

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1 135
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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1 206