Find the amount on Rs.5000 in 2 years, the rate of interest being 4% per first year and 5% for the second year?
A. Rs.460
B. Rs.5640
C. Rs.5460
D. Rs.5604
Answer
Correct Answer: C. Rs.5460
What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years, compounding done annually?
A. Rs.9630
B. Rs.9680
C. Rs.9610
D. None of these
Answer
Correct Answer: B. Rs.9680
Detail About MCQs
A= P{1 + R/100}n
=> 8000{1 + 10/100}22 = Rs.9680
The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.
A. Rs.18,828.80
B. Rs.19,828.80
C. Rs.18,028.80
D. Rs.17,828.80
Answer
Correct Answer: B. Rs.19,828.80
Detail About MCQs
Let the sum be Rs.P
P{ [ 1 + 8/100]2 – 1 } = 2828.80
P(8/100)(2 + 8/100) = 2828.80 [a2 – b2 = (a – b) ( a + b)] P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000 Principal + Interest = Rs. 19828.80
Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years. (Round off your answer to nearest integer)
A. Rs.4273
B. Rs.4613
C. Rs.4064
D. Rs.4266
Answer
Correct Answer: D. Rs.4266
Detail About MCQs
CI = 14800{ [ 1 + 13.5/100]2 – 1 }
= 14800 { [1 + 27/200]2 – 1
= 14800 { 2 + 27/200}{27/200}
= (74)[2 + 27/200](27) =
1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266
Jameel invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?
A. 8% p.a
B. 6% p.a
C. 4% p.a
D. 5% p.a
Answer
Correct Answer: D. 5% p.a
Detail About MCQs
Let the rate of interest be R% p.a.
17400[1 + R/100]2 = 17400 + 1783.50
[1 + R/100]2 = (17400 + 1783.50)/17400
= 1 + 1025/10000 = 1 + 41/400
= 441/400 = [21/20]2
[1 + R/100] = 21/20
R/100 = 1/20
Therefore R = 5
Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?
A. 18% p.a
B. 22% p.a
C. 20% p.a
D. 24% p.a
Answer
Correct Answer: C. 20% p.a
Detail About MCQs
Rs.1440 – 1200 = Rs.240 is the interest on Rs.1200 for one year.
Rate of interest = (100 * 240) / (100 * 1) = 20% p.a
A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.
A. Rs.2520
B. Rs.3120
C. Rs.3320
D. Rs.2760
Answer
Correct Answer: B. Rs.3120
Detail About MCQs
Let A be the amount received at the end of the three years.
A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]
A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)
A = Rs.7920
So the interest = 7920 – 4800 = Rs.3120
A man gets a simple interest of Rs.500 on a certain principal at the rate of 5% p.a in two years. Find the compound interest the man will get on twice the principal in two years at the same rate.
A. Rs.500
B. Rs.250
C. Rs.5012.50
D. None of these
Answer
Correct Answer: D. None of these
Detail About MCQs
Let the principal be Rs.P
S.I at 5% p.a in 8 years on Rs.P = Rs.500
(P)(8)(5)/100 = 500
P = 1250
C.I on Rs.2P i.e., Rs.2500 at 5% p.a in two years
= 2500{ [1 + 5/100]2 – 1} = 2500{ 212 – 202 /202}
= 2500/400(441 – 400)
= 25/4(41) = 1025/4 = Rs.256.25
The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be the compound interest accured on the same amount at teh same rate in the same period? (Round off your answer to two decimal places)
A. Rs.20043.94
B. Rs.18654.81
C. Rs.20264.46
D. Rs.19612.41
Answer
Correct Answer: A. Rs.20043.94
Detail About MCQs
Let the rate of interest be R% p.a.
(49500)(3)(R)/100 = 17820
495R = 5940
R = 12
CI on Rs.49500 at 12% p.a. for three years
= 49500{[1 + 12/100]3 – 1} = 69543.936 – 49500 = Rs.20043.94
when rounded off to two decimal places.
The compound interest accrued on an amount of Rs.44000 at the end of two years is Rs.1193.60. What would be the simple interest accrued on the same amount at the same rate in the same period?
A. Rs.10,840
B. Rs.10,720
C. Rs.10,560
D. Rs.10,280
Answer
Correct Answer: C. Rs.10,560
Detail About MCQs
Let the rate of interest be R% p.a.
4400{[1 + R/100]2 – 1} = 11193.60
[1 + R/100]2 = (44000 + 11193.60)/44000
[1 + R/100]2 = 1 + 2544/1000 = 1 + 159/625
[1 + R/100]2 = 784/625 = (28/25)2
1 + R/100 = 28/25
R/100 = 3/25
Therefore R = 12 SI on Rs.44000 at 12% p.a. for two years = 44000(2)(12)/100
=Rs.10560