1
Q:

The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region’s current population is 100,000, what is the expected population 10 years from now?

A) 81707 B) 91707
C) 61707 D) 71707

Answer:   A) 81707



Explanation:

i=j/m

FV = PV(1 + i)^n

Q:

A sum is equally invested in two different schemes on CI at the rate of 15% and 20% for two years. If interest gained from the sum invested at 20% is Rs. 528.75 more than the sum invested at 15%, find the total sum?

A) Rs. 7000 B) Rs. 4500
C) Rs. 9000 D) Rs. 8200
 
Answer & Explanation Answer: C) Rs. 9000

Explanation:

Let Rs. K invested in each scheme

Two years C.I on 20% = 20 + 20 + 20x20/100 = 44%

Two years C.I on 15% = 15 + 15 + 15x15/100 = 32.25%

Now,

(P x 44/100) - (P x 32.25/100) = 528.75

=> 11.75 P = 52875

=> P = Rs. 4500

 

Hence, total invested money = P + P = 4500 + 4500 = Rs. 9000.

Report Error

View Answer Workspace Report Error Discuss

4 192
Q:

What is the interest rate per annum, if a sum of money invested at compound interest amount to Rs. 2400 in 3 years and in 4 years to Rs. 2,520?

A) 3.5% B) 4%
C) 5% D) 6.5%
 
Answer & Explanation Answer: C) 5%

Explanation:

Let 'R%' be the rate of interest

From the given data,

25202400 = 1 + R10041 + R10031 + R100 = 6360R = 5

 

Hence, the rate of interest R = 5% per annum.

Report Error

View Answer Workspace Report Error Discuss

2 242
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

Report Error

View Answer Workspace Report Error Discuss

2 235
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

Report Error

View Answer Workspace Report Error Discuss

3 522
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.

Report Error

View Answer Workspace Report Error Discuss

7 469
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

Report Error

View Answer Workspace Report Error Discuss

4 509
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

Report Error

View Answer Workspace Report Error Discuss

11 609
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

Report Error

View Answer Workspace Report Error Discuss

9 655