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Q:

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is

A) Rs.4000	B) Rs.500
C) Rs.600	D) Rs.800

Answer & Explanation Answer: B) Rs.500

Explanation:

Let the sum be Rs. P.

Then,[p(1+10/100)2-p]=525

Sum =Rs.2500

S.I.= Rs.(2500*5*4)/100

= Rs. 500

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Filed Under: Compound Interest
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Q:

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

A) 8	B) 10
C) 12	D) 14

Answer & Explanation Answer: A) 8

Explanation:

[15000*(1+r/100)2-15000]-(15000*r*2)/100=96

Rate=8%

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Q:

The present worth of Rs.1404 due in two equal half-yearly instalments at 8% per annum. Simple interest is:

A) 1320	B) 1300
C) 1325	D) 1200

Answer & Explanation Answer: C) 1325

Explanation:

Required Sum = PW of Rs.702 due 6 months hence + PW of Rs.702 due 1 year hence

= Rs.[ (100 x 702) / (100+(8 x 1/2)) ] + [ (100 x 702) / (100+(8 x 1)) ]

= Rs.1325

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Filed Under: True Discount

Q:

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

A) Rs.2	B) Rs.3
C) Rs.4	D) Rs.5

Answer & Explanation Answer: B) Rs.3

Explanation:

S.I. = Rs.(1200*10*1)/100=rs.120

C.I. =rs[1200*(1+5/100)2-1200]=rs.123

Difference = Rs.(123-120) =Rs.3

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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.61.25
C) Rs.51	D) Rs.42

Answer & Explanation Answer: A) Rs.51.25

Explanation:

Sum = Rs.(50*100)/2*5=Rs.500

Amount=Rs.[500*(1+5/100)2]

= Rs. 551.25

C.I = Rs.(551.25-500)= Rs.51.25

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Q:

A has to pay Rs.220 to B after 1yr. B asks A to pay Rs.110 in cash and defer the payment of Rs.110 for 2 yrs. A agrees to it. If the rate of interest be 10% per annum in this mode of payment:

A) A gains Rs.11	B) There is No gain or loss
C) A losses 7.43	D) A gains Rs. 7.34

Answer & Explanation Answer: D) A gains Rs. 7.34

Explanation:

A has to pay = Present worth of Rs220 due 1yr hence

= Rs.[(220 x 100)/100+(10 x 1)] = Rs.200

A actually pays = Rs.110+PW of Rs.110 due 2 yrs hence

= [110+(110 x 100)] / [100+(10 x 2)] = Rs.192.66

So, A gains Rs. (200-192.66) = Rs.7.34

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Q:

If Rs.20 is the True Discount on Rs260due after a certain time.What wil be true discount on the same sum due after half of the former time, the rate of interest being the same?

A) Rs.9.40	B) Rs.10.14
C) Rs.10.40	D) Rs.9.14

Answer & Explanation Answer: C) Rs.10.40

Explanation:

Simple Interest on Rs. (260-20) for a gven time= Rs.20

Simple Interest on Rs. (260-20) for a half time = Rs.10

True Discount on Rs.250 = Rs.10

True Discount on Rs.260 = Rs.[(10/250) x 260] = Rs. 10.40

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Q:

Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

A) Rs.1550	B) Rs.1650
C) Rs,1750	D) Rs.1850

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