Question: What will be compounded amount? [A]. I alone sufficient while II alone not sufficient to answer [B]. II alone sufficient while I alone not sufficient to answer [C]. Either I or II alone sufficient to answer [D]. Both I…

Question: The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is: [A]. 3 [B]. 4 [C]. 5 [D]. 6 Answer: Option B Explanation: P 1 +…

Question: The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: [A]. 6.06% [B]. 6.07% [C]. 6.08% [D]. 6.09% Answer: Option D Explanation: Amount of Rs. 100 for 1 year when compounded…

Question: The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is: [A]. 625 [B]. 630 [C]. 640 [D]. 650 Answer:…

Question: 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? [A]. Rs. 2160 [B]. Rs. 3120 [C]. Rs. 3972 [D].…

Question: Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is: [A]. Rs.…

Question: 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: [A]. Rs. 400…

Question: At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years? [A]. 6% [B]. 6.5% [C]. 7% [D]. 7.5% Answer: Option A Explanation: Let the rate be R% p.a. Then,…

Question: The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is: [A]. 2 [B]. 2 1 2 [C]. 3 [D]. 4 Answer: Option A Explanation: Amount = Rs. (30000 + 4347) =…

Question: The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is: [A]. Rs. 2.50 [B]. Rs. 3 [C]. Rs. 3.75 [D]. Rs. 4 Answer: Option B Explanation: S.I. = Rs…