Question Detail

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,

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

1. Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

Rs. 610
Rs. 612
Rs. 614
Rs. 616

Answer: Option B

Explanation:

$\begin{aligned} Amount = [7500 \times (1+ \frac{4}{100})^2] \\ = (7500 \times \frac{26}{25} \times \frac{26}{25}) \\ = 8112 \\ \end{aligned}$

So compound interest = (8112 - 7500) = 612

2. 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:

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

3. 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

4. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum

Rs 600
Rs 625
Rs 650
Rs 675

Answer: Option B

Explanation:

Let the Sum be P

$\begin{aligned} S.I. = \frac{P*4*2}{100} = \frac{2P}{25}\\ C.I. = P(1+\frac{4}{100})^2 - P \\ = \frac{676P}{625} - P \\ = \frac{51P}{625} \\ \text{As, C.I. - S.I = 1}\\ => \frac{51P}{625} - \frac{2P}{25} = 1 \\ => \frac{51P - 50P}{625} = 1 \\ P = 625 \end{aligned}$

5. Albert invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.

Rs. 8510
Rs. 8620
Rs. 8730
Rs. 8820

Answer: Option D

Explanation:

$\begin{aligned} => (8000 \times(1+\frac{5}{100})^2) \\ => 8000 \times \frac{21}{20}\times \frac{21}{20} \\ => 8820 \end{aligned}$

Question Detail

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

1. Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

2. 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.

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

4. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum

5. Albert invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.

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Question Detail

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

1. Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

2. 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.

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

4. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum

5. Albert invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.

Thanks ! Your comment will be approved shortly !

Videos @mastguru

To Appreciate Our Effort, Please Like Us

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