1. The Simple interest on a certain sum for 2 years at 20% per annum is Rs. 80. The corresponding compound interest is 1. Rs. 66 2. Rs. 82 3. Rs. 86 4. Rs. 88 [expand title=”Answer & Explanation”] Answer:- 4 Explanation :- Principal, P = (SI×100)/ RT = 100×8020×2 = Rs. 200 Amount after 2 year on Rs.200 at 20% […]
1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: 1. 6.07% 2. 6.08% 3. 6.06% 4. 6.09% [expand title=”Answer & Explanation”] Answer:- 4 Explanation :- Let principal , be Rs.100 Amount after 1 year on Rs.100 at 6% per annum when interest is compounded half-yearly
1. 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? 1. 9% 2. 12% 3. 8% 4. 6% [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- Let the Rate of Interest be R% Compound Interest (CI)
1. What is the difference between the compound interests on Rs. 5000 for 11⁄2 years at 4% per annum compounded yearly and half-yearly? 1. Rs. 2.04 2. Rs. 4.80 3. Rs. 3.06 4. Rs. 8.30 [expand title=”Answer & Explanation”] Answer:- 1 Explanation :- P = 5000 R = 4% T= 3/2
1. A sum is invested at compounded interest payable annually. The interest in the first two successive years was Rs. 400 and Rs. 420. The sum is 1. Rs. 8000 2. Rs.7500 3. Rs. 8500 4. Rs. 8200 [expand title=”Answer & Explanation”] Answer:- 1 Explanation :- SI (for 1 year) = 420 -400 = Rs.
1. 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? 1. Rs. 2160 2. Rs. 3120 3. Rs. 3972 4. Rs. 6240 [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- Let P = Rs. 100
1. A four years NSC certificate was purchased for Rs. 500 with Rs. 1000 being the maturity value. Find the rate of S.I. 1. 24% 2. 22% 3. 16% 4. 25% [expand title=”Answer & Explanation”] Answer:- 4 Explanation :- P = Rs. 500 SI = Rs.500 T = 4 R = (SI *
1. If the simple interest on a certain sum of money for 4 years is one–fifth of the sum, then the rate of interest per annum is 1. 4% 2. 7% 3. 6% 4. 5% [expand title=”Answer & Explanation”] Answer:- 4 Explanation :- Let the sum of money be x Therefore SI = x/5 T
1. The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is 1. Rs. 8 2. Rs. 6 3. Rs. 4 4. Rs. 9 [expand title=”Answer & Explanation”] Explanation :- Answer:- 2 P = 500 R = 6% Total Days = 28+30+15 = 73
1. A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is: 1. Rs.750 2. Rs.700 3. Rs.820 4. Rs.940 [expand title=”Answer & Explanation”] Answer:- 1 Explanation :- Let the sum be Rs.x &
1. David invested certain amount in three different schemes A, B and C with the rate of interest 10% p.a., 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs. 3200 and the amount invested in Scheme C was 150% of the amount invested in Scheme A and 240%
1. In how many years, Rs. 150 will produce the same interest at 6% as Rs. 800 produce in 2 years at 4½% ? 1. 4 years 2. 6 years 3. 8 years 4. 9 years [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- SI for Rs.150 at 6% for t years = SI for
1. A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is 1. Rs.2875 2. Rs.1885 3. Rs.2245 4. Rs.2615 [expand title=”Answer
1. A sum of Rs. 14,000 amounts to Rs. 22,400 in 12 years at the rate of simple interest. What is the rate of interest? 1. 7% 2. 6% 3. 5% 4. 4% [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- P= Rs. 14000 SI=Rs. 22400 T=12 years R=(SI*100)/(P*T) R=(22400*100)/(14000*12) Therefore , R = 5%
1. A person borrows Rs.5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 1⁄4% p.a for 2 years. Find his gain in the transaction per year. 1. Rs. 167.50 2. Rs. 150 3. Rs.225 4. Rs. 112.50 [expand title=”Answer & Explanation”] Answer:- 4 Explanation :- He