17
Q:

# Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly

 A) 2422 B) 2522 C) 2622 D) 2722

Explanation:

Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

CJ. = Rs. (18522 - 16000) = Rs. 2522

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

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.

4 348
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%

Explanation:

Let 'R%' be the rate of interest

From the given data,

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

2 389
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

Explanation:

Given principal amount = Rs. 8000

Time = 3yrs

Rate = 5%

C.I for 3 yrs =

Now, C.I for 2 yrs =

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

2 335
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

Explanation:

We know that,

From given data, P = Rs. 8625

Now, C.I  =

3 593
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

Explanation:

We know the formula for calculating

The compound interest  where P = amount, r = rate of interest, n = time

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

Then

C = Rs. 4826.

8 593
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

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

4 736
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

Explanation:

We know thatThe Difference between Compound Interest and Simple Interest for n years at R rate of interest is given by

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

12 752
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

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