15
Q:

The population of a town was 3600 three years back. It is 4800 right now. What will be the population three years down the line, if the rate of growth of population has been constant over the years and has been compounding annually?

A) Rs.600 B) Rs,6400
C) Rs.6500 D) Rs.6600

Answer:   B) Rs,6400



Explanation:

 

The population grew from 3600 to 4800 in 3 years. That is a growth of 1200 on 3600 during three year span.

 

Therefore, the rate of growth for three years has been constant.

 

The rate of growth during the next three years will also be the same.

 

Therefore, the population will grow from 4800 by 4800*13= 1600

 

Hence, the population three years from now will be 4800 + 1600 = 6400

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 8
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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3 315
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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6 222
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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4 296
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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9 424
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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13 635
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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