Find the amount of Rs. 800 at compound interest in 221 years at 5 p.c.
A
Rs. 904.5
B
Rs. 805.5
C
Rs. 104.5
D
Rs. 804.5
View Answer
Correct Answer:
A
Rs. 904.5
Description:
Amount= Rs. 800×(1+1005)2×(1+2005) = Rs. 904.05
Q2 :
Find the sum if it matured to Rs. 2809 becomes in two years at the rate of 6% compounded yearly, what is the sum?
A
Rs. 2500
B
Rs. 2250
C
Rs. 1575
D
Rs. 2000
View Answer
Correct Answer:
A
Rs. 2500
Description:
Sum=(1+100r)nA=(1+1006)22809
=53×532809×2500=Rs.2500
Q3 :
A sum of money put out at compound interest amounts in two years to Rs. 2809 and in three years to Rs. 2977.54. Find the rate percent.
A
4%
B
3%
C
6%
D
8%
View Answer
Correct Answer:
C
6%
Description:
Interest in one year
= Rs. 2977.54 - Rs. 2809 = Rs. 168.54
Principal = Rs. 2809, Int. = Rs. 168.54
Time = 1 year
∴Rate =100×280916854×100=6%
Q4 :
The compound interest on a certain sum for 2 years is Rs. 40.80 and the simple interest is Rs. 40. Find the rate p.c.?
A
10%
B
8%
C
6%
D
4%
View Answer
Correct Answer:
D
4%
Description:
Interest for 1 year on Rs. 20 is 80 P.
Rate%=200.80×100=4%
Q5 :
At what rate percent compound interest will Rs. 80,000 amout to Rs. 88,220 in 2 years?
A
5%
B
8%
C
10%
D
12%
View Answer
Correct Answer:
A
5%
Description:
88200=80000(1+100x)2
∴(1+100x)2=400441=(2021)2
x=5%
Q6 :
Find the least number of complete years in which a sum of money put at 20 p.c. compound interest will be more than doubled?
A
4 years
B
8 years
C
2 years
D
6 years
View Answer
Correct Answer:
A
4 years
Description:
x×(1+10020)n>2x
or(56)n>2, it is true if n=4
Q7 :
What principal will amount to Rs. 1352 in 2 years at 4 p.c. compound interest?
A
1250
B
1300
C
1350
D
1500
View Answer
Correct Answer:
A
1250
Description:
Principal =(1+1004)21352
=1352×676625=Rs. 1250
Q8 :
At what rate percent compound interest does a sum of money become four fold in 2 years?
A
100%
B
10%
C
25%
D
50%
View Answer
Correct Answer:
A
100%
Description:
4x=x(1+100r)2
∴(1+100r)2=40 or 1+100r=2
or r=100%
Q9 :
Find the compound interest of Rs. 800 for 3 years at 5 p.c.
A
Rs. 126.10
B
Rs. 826.10
C
Rs. 820.10
D
Rs. 850.00
View Answer
Correct Answer:
A
Rs. 126.10
Description:
Amount=800×(1+1005)3
=800×80009261=926.10
∴ Interest=Rs.926.10−Rs.800=Rs.126.10
Q10 :
A merchant commences with a certain capital and gains annually at the rate of 25%. At the end of 3 years he is worth Rs. 10000. What was his original capital?