8
Q:

# Rs 1000 is being  charged at 50% per annum. what is the interest for 3rd year at compound interest?

 A) 1122 B) 1025 C) 1125 D) 625

Explanation:

Total amount for two years = $\inline&space;1000(1.5)^2=2250$

Now , interest for third year = $\inline&space;\frac{2250\times&space;50\times&space;1}{100}=1125$

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{ $\inline \fn_jvn \small \left [ 1+\frac{8}{100} \right ]^{2}$ - 1 } = 2828.80

It is in the form of  $\inline \fn_jvn \small a^{2}-b^{2}=(a+b)(a-b)$

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

P = 2828.80 / (0.08)(2.08)

= 1360/0.08 = 17000

Principal + Interest = Rs. 19828.80

4 191
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 = $\inline \fn_jvn \small \left [ 15225x\left ( 1+\frac{4}{100} \right )^{3} \right ]$

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

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

2 197
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:

$\inline \fn_jvn \small P(1 + 20/100)^{n}$ > 2P or $\inline \fn_jvn \small \left ( \frac{6}{5}\right )^{n}$ > 2

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

So, n = 4 years.

5 143
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 = $\inline \fn_jvn \small \left [ 8000x\left ( 1 + \frac{5}{100} \right )^{2} \right ]$

= 8000 x 21/20 x 21/20

= Rs. 8820

2 184
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