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Compound Interest

A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year?

Compound Interest, Mathematics Mcqs /
A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year?

A. Rs.25600.24
B. Rs.32000.50
C. Rs.18060.36
D. Rs.18600
Explanation:
6 1/4% = 1/16
x *15/16 * 15/16 * 15/16 = 21093
x = 25600.24

A property decreases in value every year at the rate of 6 1/4% of its value at the beginning of the year its value at the end of 3 years was Rs.21093. Find its value at the beginning of the first year? Read More »

Compound Interest, Mathematics Mcqs

What will be ratio of simple to compound interest on two same sums invested in SBP at rate of interest of 8% kept for 3 years?

Compound Interest, Mathematics Mcqs /
What will be ratio of simple to compound interest on two same sums invested in SBP at rate of interest of 8% kept for 3 years?

A. 1875/2029
B. 1/2.5
C. 1903/2156
D. 4/9

What will be ratio of simple to compound interest on two same sums invested in SBP at rate of interest of 8% kept for 3 years? Read More »

Compound Interest, Mathematics Mcqs

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

Compound Interest, Mathematics Mcqs /
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

A. 8
B. 10
C. 12
D. Cannot be determined

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum? Read More »

Compound Interest, Mathematics Mcqs

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:________?

Compound Interest, Mathematics Mcqs /
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

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:________? Read More »

Compound Interest, Mathematics Mcqs

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 at the same rate and for the same time?

Compound Interest, Mathematics Mcqs /
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 at the same rate and for the same time?

A. Rs. 51.25
B. Rs. 52
C. Rs. 54.25
D. Rs. 60

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 at the same rate and for the same time? Read More »

Compound Interest, Mathematics Mcqs

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:_______?

Compound Interest, Mathematics Mcqs /
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. 1550
B. Rs. 1650
C. Rs. 1750
D. Rs. 2000

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:_______? Read More »

Compound Interest, Mathematics Mcqs

The difference between compound interest and simple interest at the same rate on Rs 5000 for 2 years is Rs 72. The rate of interest per annum is:___________?

Compound Interest, Mathematics Mcqs /
The difference between compound interest and simple interest at the same rate on Rs 5000 for 2 years is Rs 72. The rate of interest per annum is:___________?

A. 6%
B. 8%
C. 10%
D. 12%

The difference between compound interest and simple interest at the same rate on Rs 5000 for 2 years is Rs 72. The rate of interest per annum is:___________? Read More »

Compound Interest, Mathematics Mcqs

At what rate of interest will be Rs 20000 becomes Rs 24200 after 2 years when interest is compounded annually?

Compound Interest, Mathematics Mcqs /
At what rate of interest will be Rs 20000 becomes Rs 24200 after 2 years when interest is compounded annually?

A. 5%
B. 6%
C. 10%
D. 15%
Explanation:
P = Rs 20000, A =Rs 24200,
t = 2 years 20000 × (1 + R/100)2 = 24200
=> (1 + R/100)2 = 24200/20000 = 121/100 = (11/10) 2
=> 1 + R/100 = 11/10
=> R/100 = (11/10 – 1) = 1/10
=> R = (100 × 1/10) % p.a = 10 % p.a
Hence, Rate = 10 % p.a

At what rate of interest will be Rs 20000 becomes Rs 24200 after 2 years when interest is compounded annually? Read More »

Compound Interest, Mathematics Mcqs