A bank offers 5% C.I. calculated on half-yearly basis . A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is?
Answer: B
Amount = [1600 * (1 + 5/(2 * 100)⊃2; + 1600 * (1 + 5/(2 * 100)]
= [1600 * 41/40(41/40 + 1)
= [(1600 * 41 * 81)/(40 * 40)] = Rs. 3321.
C.I. = 3321 - 3200 = Rs. 121.
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The compound and the simple interests on a certain sum at the same rate of interest for two years are Rs.11730 and Rs.10200 respectively. Find the sum.
Answer: B
The simple interest for the first year is 10200/2 is Rs.5100 and compound interest for first year also is Rs.5100. The compound interest for second year on Rs.5100 for one year
So rate of the interest = (100 * 1530)/ (5100 * 1) = 30% p.a.
So P = (100 * 10200)/ (30 * 2) = Rs.17000
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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 sum at the rate and for the same time?
Answer: A
Sum = (50 * 100) / (2 * 5) = Rs. 500
Amount = [500 * (1 + 5/100)⊃2;] = Rs. 551.25
C.I. = (551.25 - 500) = Rs. 51.25.
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A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum?
Answer: A
P = (d * 100⊃2; ) / R⊃2;
=> (48 * 100 * 100) / 8 * 8 = Rs.7500
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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?
Answer: C
No answer description available for this question.
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A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.
Answer: B
Let A be the amount received at the end of the three years.
A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]
A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)
A = Rs.7920
So the interest = 7920 - 4800 = Rs.3120
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Raj has Rs. 1301 with him. He divided it amongst his sons Prakash and Prashant and asked them to invest it at 4% rate of interest compounded annually. It was seen that Prakash and Prashant got same amount after 17 and 19 years respectively. How much did Raj give to Prashant?
Answer: D
No answer description available for this question.
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The population of a city is 50,000 at present. It increases at the rate of 10% per annum. What was its population 4 years ago from present?
Answer: C
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What sum of money put at C.I amounts in 2 years to Rs.8820 and in 3 years to Rs.9261?
Answer: A
8820 ---- 441
100 ---- ? => 5%
x *105/100 * 105/100 = 8820
x*1.1025=8820
x=8820/1.1025 => 8000
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Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years.
Answer: D
CI = 14800{ [ 1 + 13.5/100]⊃2; - 1 }
= 14800 { [1 + 27/200]⊃2; - 1
= 14800 { 2 + 27/200}{27/200}
= (74)[2 + 27/200](27) =
1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266
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