Siddharth wants to borrow Rs.6000 at rate of interest 6% p.a. at S.I and lend the same amount at C.I at same rate of interest for two years. What would be his income in the above transaction?
Answer: A
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Raju invested Rs. 77500 in ICICI bank. In two years how much compound interest will he get, if the first year rate of interest was 10% and second year had 2% more than first year?
Answer: B
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The population of a city increases at the rate of 4% p.a. but there is an additional annual increase of 1% in the population due to some job seekers. The percentage increase in the population after 2 years is?
Answer: C
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Sam invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be?
Answer: C
P = Rs. 15000; R = 10% p.a. = 5% per half-year; T = 1 year = 2 half-year
Amount = [15000 * (1 + 5/100)⊃2;]
= (15000 * 21/20 * 21/20) = Rs. 16537.50
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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.?
Answer: C
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Raj invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?
Answer: D
Let the rate of interest be R% p.a.
17400[1 + R/100]⊃2; = 17400 + 1783.50
[1 + R/100]⊃2; = (17400 + 1783.50)/17400
= 1 + 1025/10000 = 1 + 41/400
= 441/400 = [21/20]⊃2;
[1 + R/100] = 21/20
R/100 = 1/20
Therefore R = 5
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What will be the difference between simple interest and compound interest @ 10% per annum on a sum of Rs. 1000 after 3 years?
Answer: A
S.I. = Rs. [(1000 x 10 x 3) / 100] = Rs. 300
C.I. = Rs. [1000 x (1 + (10/100))⊃3; - 1000] = Rs. 331
Difference = Rs. (331 - 300) = Rs. 31
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If the C.I. on a sum for 2 years at 12 1/2 % per annum is Rs. 510, the S.I. on the same sum at the same rate for the same period of time is?
Answer: D
Let the sum be Rs. P. Then,
[P(1 + 25/(2 * 100))⊃2; - P] = 510
P[(9/8)⊃2; - 1] = 510.
Sum = Rs. 1920
So, S.I. = (1920 * 25 * 2) / (2 * 100) = Rs. 480
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The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Answer: A
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Rs. 400 is simple interest for a sum for 4 years at 10% rate of interest per annum. Find the compound interest for the same sum at same rate of interest for same time period?
Answer: A
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