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Mathematics Mcqs

The compound interest on a certain sum of money for 2 years at 10 % per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be_______?

Compound Interest, Mathematics Mcqs /
The compound interest on a certain sum of money for 2 years at 10 % per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be_______?

A. Rs.350
B. Rs.375
C. Rs. 380
D. Rs. 400
Explanation:
The principle is P.
P(1 +10/100)2 – P = 420
=> P = Rs.2000
S.I = Rs.(4000/100) = Rs.400

The compound interest on a certain sum of money for 2 years at 10 % per annum is Rs.420. The simple interest on the same sum at the same rate and for the same time will be_______? Read More »

Compound Interest, Mathematics Mcqs

The difference between the compound interest and the simple interest on a certain sum at 5 % per annum for 2 years is Rs. 1.50. The sum is_______?

Compound Interest, Mathematics Mcqs /
The difference between the compound interest and the simple interest on a certain sum at 5 % per annum for 2 years is Rs. 1.50. The sum is_______?

A. Rs.600
B. Rs.500
C. Rs.400
D. Rs.300
Explanation:
Sum be Rs.100
S.I = Rs.(1000/100) =Rs.10
C.I = Rs.[{100 × (1 +5/100) 2} – 100] =Rs.41/4
Difference C.I amd S. I = Rs.(41/4 – 10) =Rs.25
25 : 1.50 : : 100 : x
Therefore x = ((1.50 ×100)/25) = Rs.600

The difference between the compound interest and the simple interest on a certain sum at 5 % per annum for 2 years is Rs. 1.50. The sum is_______? Read More »

Compound Interest, Mathematics Mcqs

Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________?

Compound Interest, Mathematics Mcqs /
Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________?

A. Rs. 81.60
B. Rs. 160
C. Rs. 1081.60
D. None of these
Explanation:
Principle = Rs.(8000/8) = Rs. 1000
Therefore, C. I = Rs. [{ 1000 × (1 +4/100)2 – 1000}]
= Rs. 81.60

Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________? Read More »

Compound Interest, Mathematics Mcqs

If Rs. 7500 are borrowed at C. I at the rate of 4 % per annum then after 2 years, the amount to be paid is_______?

Compound Interest, Mathematics Mcqs /
If Rs. 7500 are borrowed at C. I at the rate of 4 % per annum then after 2 years, the amount to be paid is_______?

A. Rs. 8082
B. Rs. 7800
C. Rs. 8100
D. Rs. 8112
Explanation:
Amount = Rs. [7500 (1 +4/100)2]
= Rs. [7500 × 26/25 × 26/25] = Rs.8112

If Rs. 7500 are borrowed at C. I at the rate of 4 % per annum then after 2 years, the amount to be paid is_______? Read More »

Compound Interest, Mathematics Mcqs

The difference between C.I. and S.I. 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 C.I. and S.I. 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
Explanation:
[15000 * (1 + R/100)2 – 15000] – (15000 * R * 2)/100 = 96
15000[(1 + R/100)2 – 1 – 2R/100] = 96
15000[(100 + R)2 – 10000 – 200R]/10000 = 96
R2 = (96 * 2)/3 = 64 => R = 8
Rate = 8%

The difference between C.I. and S.I. 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

A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% C.I. The sum borrowed was?

Compound Interest, Mathematics Mcqs /
A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% C.I. The sum borrowed was?

A. Rs. 1620
B. Rs. 1640
C. Rs. 1680
D. Rs. 1700
Explanation:
Principal = (P.W. of Rs. 882 due 1 year hence) + (P.W. of Rs. 882 due 2 years hence)
= [882/(1 + 5/100) + 882/(1 + 5/100)2]
= (882 * 20)/21 + (882 * 400)/441 = Rs. 1640.

A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% C.I. The sum borrowed was? Read More »

Compound Interest, Mathematics Mcqs

What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?

Compound Interest, Mathematics Mcqs /
What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?

A. Rs. 550
B. Rs. 551.25
C. Rs. 560
D. Rs. 560.75
Explanation:
Let each installment be Rs. x. Then,
x/(1 + 5/100) + x/(1 + 5/100)2 = 1025
820x + 1025 * 441
x = 551.25
So, value of each installment = Rs. 551.25

What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest? Read More »

Compound Interest, Mathematics Mcqs

The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is_________?

Compound Interest, Mathematics Mcqs /
The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is_________?

A. 3
B. 4
C. 5
D. 6
Explanation:
P(1 + 20/100)n > 2P or (6/5)n > 2
Now, (6/5 * 6/5 * 6/5 * 6/5) > 2. So, n = 4 years.

The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is_________? Read More »

Compound Interest, Mathematics Mcqs