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Q:

What is the rate of interest p.c.p.a.?

I. An amount doubles itself in 5 years on simple interest.

II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.

III. Simple interest earned per annum is Rs. 2000

A) I only B) II and III only
C) All I, II and III D) I only or II and III only

Answer:   D) I only or II and III only



Explanation:

I.P*R*5100=P⇔R=20

 II.P1+R1002-P-P*R*2100=400=>pR2=4000000

 III.P*R*1100=2000=>PR=200000

 PR2PR=4000000200000⇔R=20

 

Thus I only or (II and III) give answer.

 

 Correct answer is (D)

Subject: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO
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Q:

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate

A) Rs.4972 B) Rs.3972
C) Rs.5972 D) Rs.2972
 
Answer & Explanation Answer: B) Rs.3972

Explanation:

 

Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.

 

R=100*60100*6 =10% p.a

 

Now, P = Rs. 12000. T = 3 years and R = 10% p.a.

 

C.I=Rs.12000*1+101003-1
       =Rs.3972

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Q:

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is

A) 2years B) 3years
C) 4years D) 5years
 
Answer & Explanation Answer: A) 2years

Explanation:

 

 

 

Amount = Rs(30000 + 4347) = Rs.34347.

 

 

 

Let the time be n years. Then,

 

 300001+7100n=34347

 

 

 

107100n=3434730000=1144910000=1071002

 

 

 

n= 2years.

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1 6980
Q:

What will be the compound interest on a sum of Rs.25,000 after 3 years at the rate of 12 p.c.p.a?

A) Rs.10123.20 B) Rs.12100
C) Rs.12552 D) Rs.12665
 
Answer & Explanation Answer: A) Rs.10123.20

Explanation:

Amount

= Rs.(25000x(1+12/100)³

= Rs.(25000x28/25x28/25x28/25)

= Rs. 35123.20.

 

C.I = Rs(35123.20 -25000)

= Rs.10123.20

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Exam Prep: GRE

16 13697
Q:

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

A) Rs.1251 B) Rs.1261
C) Rs.1271 D) Rs,1281
 
Answer & Explanation Answer: B) Rs.1261

Explanation:

Clearly, Rate = 5% p.a .,

Time = 3 years

S.I =Rs.1200.

So,Principal

=Rs.(100 x 1200/3x5)

=Rs.8000.

 

Amount

=Rs.[8000 x (1+5/100)³]

=Rs(8000x21/20x21/20x21/20)

= Rs.9261

 

C.I

=Rs.(9261-8000)

=Rs.1261.

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1 4481
Q:

In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually?

A) 2years B) 3years
C) 4years D) 5years
 
Answer & Explanation Answer: B) 3years

Explanation:

Principal = Rs.1000;

Amount = Rs.1331;

Rate = Rs.10%p.a.

 

Let the time be n years.Then

[1000(1+10/100)Λn;]

= 1331.

= (1331/1000)

= (11/10)³

 

Therefore n = 3 years.

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3 7334
Q:

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

A) Rs.51.25 B) Rs.52
C) Rs.53 D) Rs.54
 
Answer & Explanation Answer: A) Rs.51.25

Explanation:

Sum =Rs.(50 x 100/2x5)

= Rs. 500.

Amount

=[Rs.500x(1+5/100)²]

=Rs(500x21/20x21/20).

=Rs. 551.25

 

C.I

= Rs. (551.25 - 500)

= Rs. 51.25

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3 6661
Q:

A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is

A) 6% B) 4%
C) 5% D) 7%
 
Answer & Explanation Answer: C) 5%

Explanation:

S.I. on Rs.800 for 1 year

=Rs[840 - 800]

= Rs.40

 

Rate

=(100x40/800x1)%

= 5%

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14 16789
Q:

The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned half yearly is

A) Rs.2.50 B) Rs.3
C) Rs.4 D) Rs.4.50
 
Answer & Explanation Answer: B) Rs.3

Explanation:

S.I

= Rs.(1200x10x1/100)

= Rs.120.

 

C.I

= Rs[(1200x1+5/100)² -1200]

= Rs.123. 

 

Difference

= Rs.[123-120]

= Rs. 3.

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Exam Prep: GRE

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