A man gets a simple interest of Rs.500 on a certain principal at the rate of 5% p.a in two years. Find the compound interest the man will get on twice the principal in two years at the same rate.
Answer: D
Let the principal be Rs.P
S.I at 5% p.a in 8 years on Rs.P = Rs.500
(P)(8)(5)/100 = 500
P = 1250
C.I on Rs.2P i.e., Rs.2500 at 5% p.a in two years
=2500{ [1 + 5/100]⊃2; - 1} = 2500{ 21⊃2; - 20⊃2; /20⊃2;}
= 2500/400(441 - 400)
= 25/4(41) = 1025/4 = Rs.256.25
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Rohit invests a sum of money at compound interest which doubles itself in 3 years, find in how many years will it amount to four times itself ?
Answer: B
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Simple interest on a sum at 4% per annum for 2 years is Rs.80. The C.I. on the same sum for the same period is?
Answer: A
SI = 40 + 40
CI = 40 + 40 + 1.6 = 81.6
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A has two grandsons P and Q. 13 year old P gets some money from A’s wealth and 14 year old Q gets rest of the money. But P and Q will get money only when they turn 25 years old. Till then the money is in a bank getting interest at rate 4% compounded annually. When both turn 25, they receive the same amount. How much had A given Q initially, if total money with A was Rs.25500?
Answer: B
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Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Albert get on maturity of the fixed deposit?
Answer: D
Amount = [8000 * (1 + 5/100)⊃2;]
= 8000 * 21/20 * 21/20
= Rs. 8820
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A sum amount to Rs.1344 in two years at simple interest. What will be the compound interest on the same sum at the same rate of interest for the same period?
Answer: D
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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:
Answer: B
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A town has population of 50,000 in 1988. In one year i.e. by 1989 it increased by 25%. Next year i.e. in 1990, it decreased by 30%. The next year in 1991 there was an increase of 40%. What is the population at end of 1991?
Answer: D
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The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be the compound interest accured on the same amount at teh same rate in the same period? (Round off your answer to two decimal places)
Answer: A
Let the rate of interest be R% p.a.
(49500)(3)(R)/100 = 17820
495R = 5940
R = 12
CI on Rs.49500 at 12% p.a. for three years
= 49500{[1 + 12/100]⊃3; - 1} = 69543.936 - 49500 = Rs.20043.94
when rounded off to two decimal places.
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Find the least number of complete years in which a sum of money put out at 25% compound interest will be more than double of itself?
Answer: D
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