Question Detail

A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years.

Rs 662
Rs 662.01
Rs 662.02
Rs 662.03

Answer: Option C

Explanation:

$\begin{aligned} [200(1+\frac{5}{100})^3 + 200(1+\frac{5}{100})^2+ \\ 200(1+\frac{5}{100})] = [200(\frac{21}{20} \times \frac{21}{20} \times \frac{21}{20})\\ + 200(\frac{21}{20}\times\frac{21}{20})+200(\frac{21}{20})] \\ = 662.02 \end{aligned}$

1. What will be the compound interest on Rs. 25000 after 3 years at the rate of 12 % per annum

Rs 10123.20
Rs 10123.30
Rs 10123.40
Rs 10123.50

Answer: Option A

Explanation:

$\begin{aligned} (25000 \times (1 + \frac{12}{100})^3) \\ => 25000\times\frac{28}{25}\times\frac{28}{25}\times\frac{28}{25} \\ => 35123.20 \\ \end{aligned}$

So Compound interest will be 35123.20 - 25000
= Rs 10123.20

2. A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate on interest per annum is.

Answer: Option B

Explanation:

S.I. on Rs 800 for 1 year = 40

Rate = (100*40)/(800*1) = 5%

3. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases.

Answer: Option D

Explanation:

Difference between C.I and S.I for 2 years = 36.30
S.I. for one year = 330.
S.I. on Rs 330 for one year = 36.30

So R% = \frac{100*36.30}{330*1} = 11%

4. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly

Rs 2520
Rs 2521
Rs 2522
Rs 2523

Answer: Option C

Explanation:

Please remember, when we have to calculate C.I. quarterly then we apply following formula if n is the number of years

$\begin{aligned} Amount = P(1+\frac{\frac{R}{4}}{100})^{4n} \end{aligned}$

Principal = Rs.16,000;
Time=9 months = 3 quarters;
Rate = 20%, it will be 20/4 = 5%

So lets solve this question now,

$\begin{aligned} Amount = 16000(1+\frac{5}{100})^3 \\ = 18522\\ C.I = 18522 - 16000 = 2522 \end{aligned}$

5. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years

Answer: Option D

Explanation:

Let Rate will be R%

$\begin{aligned} 1200(1+\frac{R}{100})^2 = \frac{134832}{100} \\ (1+\frac{R}{100})^2 = \frac{134832}{120000} \\ (1+\frac{R}{100})^2 = \frac{11236}{10000} \\ (1+\frac{R}{100}) = \frac{106}{100} \\ => R = 6\% \end{aligned}$

Question Detail

A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years.

1. What will be the compound interest on Rs. 25000 after 3 years at the rate of 12 % per annum

2. A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate on interest per annum is.

3. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases.

4. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly

5. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years

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Question Detail

A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years.

1. What will be the compound interest on Rs. 25000 after 3 years at the rate of 12 % per annum

2. A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 840 in 4 years. The rate on interest per annum is.

3. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases.

4. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quarterly

5. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years

Thanks ! Your comment will be approved shortly !

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