3
Q:

On a sum of money, the simple interest for 2 years is Rs. 660,while the compound interest is Rs.696.30,the rate of interest being the same in both the cases. The rate of interest is

A) 10% B) 11%
C) 12% D) 13%

Answer:   B) 11%



Explanation:

Difference in C.I and S.I for 2 years

= Rs(696.30-660)

=Rs. 36.30.

 

S.I for one years = Rs330.

S.I on Rs.330 for 1 year =Rs. 36.30 

 

Rate

= (100x36.30/330x1)%

= 11%

Q:

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

 

A) Rs. 387 B) Rs. 441
C) Rs. 469 D) Rs. 503
 
Answer & Explanation Answer: B) Rs. 441

Explanation:

Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 - 8000= Rs. 1261

 

Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820 

 

Hence, the required difference in C.I is 1261 - 820 = Rs. 441

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0 4
Q:

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?

A) Rs. 704 B) Rs. 854
C) Rs. 893 D) Rs. 914
 
Answer & Explanation Answer: A) Rs. 704

Explanation:

We know that,

S.I. = PTR100 P = S.I x 100T x RAnd also,C.I = P1 + R100n- 1

From given data, P = Rs. 8625

Now, C.I  = 86251+41002-1= 862526252-1= 8625676625-1= 8625 x 51625C.I = Rs. 703.80

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3 314
Q:

Find the compound interest on Rs. 6,500 for 4 years if the rate of interest is 10% p.a. for the first 2 years and 20% per annum for the next 2 years? 

A) Rs. 3845 B) Rs. 4826
C) Rs. 5142 D) Rs. 4415
 
Answer & Explanation Answer: B) Rs. 4826

Explanation:

We know the formula for calculating

The compound interest C = P1 + r100n - 1 where P = amount, r = rate of interest, n = time

Here P = 5000, r1 = 10, r2 = 20

Then C = 65001 + 101002 x 1 + 201002 - 1= 6500 x 18562500= 65 x 185625

C = Rs. 4826.

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6 220
Q:

What is the difference between the compound interests on Rs. 5000 for 11⁄2 years at 4% per annum compounded yearly and half-yearly?

A) Rs. 1.80 B) Rs. 2.04
C) Rs. 3.18 D) Rs. 4.15
 
Answer & Explanation Answer: B) Rs. 2.04

Explanation:

Compound Interest for 1 12 years when interest is compounded yearly = Rs.(5304 - 5000)


Amount after 112 years when interest is compounded half-yearly 


Compound Interest for 1 12 years when interest is compounded half-yearly = Rs.(5306.04 - 5000)


Difference in the compound interests = (5306.04 - 5000) - (5304 - 5000)= 5306.04 - 5304 = Rs. 2.04

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4 295
Q:

The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs. 56. Then the sum is :

A) Rs. 3680 B) Rs. 2650
C) Rs. 1400 D) Rs. 1170
 
Answer & Explanation Answer: C) Rs. 1400

Explanation:

We know thatThe Difference between Compound Interest and Simple Interest for n years at R rate of interest is given by C.In - S.In = PR100n

Here n = 2 years, R = 20%, C.I - S.I = 56

56 = P201002=> P = 56 x 52=> P = 56 x 25=> P = Rs. 1400

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9 349
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
 
Answer & Explanation Answer: C) Rs. 445.95

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

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9 421
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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13 633
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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