1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum 1. Rs 600 2. Rs 625 3. Rs 650 4. Rs 675 5. None of these [expand title=”Answer & Explanation”] Answer:- 2 Explanation :- The difference […]
1. A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years. 1. Rs 662 2. Rs 662.01 3. Rs 662.02 4. Rs 662.03 5. None of these [expand title=”Answer & Explanation”] Answer:- 3 Explanation :-
1. The simple interest on a certain sum for 8 months at 4% per annum is Rs. 129 less than the simple interest on the same sum for 15 months at 5% per annum. The sum is: 1. Rs. 2580 2. Rs. 2400 3. Rs. 2529 4. Rs. 3600 5. None of these [expand title=”Answer
1. A sum of Rs. 1600 gives a simple interest of Rs. 252 in 2 years and 3 months. The rate of interest per annum is:? 1. 51/2% 2. 8% 3. 7% 4. 6% 5. None of these [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- P = 1600 , R = ?
1. A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to 8 times? 1. 10 years 2. 8 years 3. 6 years 4. 12 years [expand title=”Answer & Explanation” ] Answer:- 4 Explanation :- Let P = Rs.100 Rate = R% A =
1. A tree increases annually by 1⁄5 th of its height. If its height today is 50 cm, what will be the height after 2 years? 1. 64 cm 2. 72 cm 3. 66 cm 4. 84 cm [expand title=”Answer & Explanation”] Answer:- 2 Explanation :- Present height = 50 cm , Time =
1. If the compound interest on a certain sum for 2 years in Rs. 80.80 and the simple interest Rs. 80; then the rate of interest per annum is 1. 2% 2. 1% 3. 3% 4. 4% [expand title=”Answer & Explanation”] Answer:- 1 Explanation :- Let the sum be P and Rate of Interest be
1. What sum invested for 2 years at 14% compounded annually will grow to Rs. 5458.32? 1. 4120 2. 3300 3. 4200 4. 4420 [expand title=”Answer & Explanation”] Answer:- 3 Explanation :- P(1+R/100)^T = 5458.32 P(1+14/100)2 = 5458.32 P(114/100)2 = 5458.32 P = (5458.32×100×100)/(114×114) P = (47.88×100×100) / 114 = 0.42×100×100 = 4200 [/expand] 2. If the difference between the simple interest and compound interests on
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 *