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Compound Interest

The simple interest on Rs.12000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for five years at the same rate of interest.

Compound Interest, Mathematics Mcqs /
The simple interest on Rs.12000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for five years at the same rate of interest.

A. Rs.3502.80
B. Rs.3052.40
C. Rs.3054.8
D. Rs.3052.80
E. None of these

The simple interest on Rs.12000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for five years at the same rate of interest. Read More »

Compound Interest, Mathematics Mcqs

What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when compounded yearly and half yearly?

Compound Interest, Mathematics Mcqs /
What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when compounded yearly and half yearly?

A. Rs.140
B. Rs.120
C. Rs.130
D. Rs.110
E. None of these.

What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when compounded yearly and half yearly? Read More »

Compound Interest, Mathematics Mcqs

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.

Compound Interest, Mathematics Mcqs /
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.

A. Rs.18000
B. Rs.17000
C. Rs.18500
D. Rs.17500
E. None of these.
Explanation:
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

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. Read More »

Compound Interest, Mathematics Mcqs

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?

Compound Interest, Mathematics Mcqs /
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?

A. Rs.7500
B. Rs.7000
C. Rs.8000
D. Rs.6500
E. None of these

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? Read More »

Compound Interest, Mathematics Mcqs

The compound interest accrued on an amount of Rs.44000 at the end of two years is Rs.1193.60. What would be the simple interest accrued on the same amount at the same rate in the same period?

Compound Interest, Mathematics Mcqs /
The compound interest accrued on an amount of Rs.44000 at the end of two years is Rs.1193.60. What would be the simple interest accrued on the same amount at the same rate in the same period?

A. Rs.10,840
B. Rs.10,720
C. Rs.10,560
D. Rs.10,280
E. None of these.
Explanation:
Let the rate of interest be R% p.a.
4400{[1 + R/100]2 – 1} = 11193.60
[1 + R/100]2 = (44000 + 11193.60)/44000
[1 + R/100]2 = 1 + 2544/1000 = 1 + 159/625
[1 + R/100]2 = 784/625 = (28/25)2
1 + R/100 = 28/25
R/100 = 3/25
Therefore R = 12 SI on Rs.44000 at 12% p.a. for two years = 44000(2)(12)/100
=Rs.10560

The compound interest accrued on an amount of Rs.44000 at the end of two years is Rs.1193.60. What would be the simple interest accrued on the same amount at the same rate in the same period? Read More »

Compound Interest, Mathematics Mcqs

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)

Compound Interest, Mathematics Mcqs /
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)

A. Rs.20043.94
B. Rs.18654.81
C. Rs.20264.46
D. Rs.19612.41
E. None of these
Explanation:
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.

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) Read More »

Compound Interest, Mathematics Mcqs

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.

Compound Interest, Mathematics Mcqs /
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.

A. Rs.500
B. Rs.250
C. Rs.5012.50
D. Rs.5062.50
E. None of these.
Explanation:
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{ 212 – 202 /202}
= 2500/400(441 – 400)
= 25/4(41) = 1025/4 = Rs.256.25

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. Read More »

Compound Interest, Mathematics Mcqs

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.

Compound Interest, Mathematics Mcqs /
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.

A. Rs.2520
B. Rs.3120
C. Rs.3320
D. Rs.2760
E. None of these
Explanation:
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

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. Read More »

Compound Interest, Mathematics Mcqs

Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?

Compound Interest, Mathematics Mcqs /
Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?

A. 18% p.a.
B. 22% p.a.
C. 20% p.a.
D. 24% p.a.
E. None of these.
Explanation:
Rs.1440 – 1200 = Rs.240 is the interest on Rs.1200 for one year.
Rate of interest = (100 * 240) / (100 * 1) = 20% p.a

Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest? Read More »

Compound Interest, Mathematics Mcqs

Jameel 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?

Compound Interest, Mathematics Mcqs /
Jameel 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?

A. 8% p.a.
B. 6% p.a.
C. 4% p.a.
D. 5% p.a.
E. None of these
Explanation:
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

Jameel 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? Read More »

Compound Interest, Mathematics Mcqs