Question : A sum becomes Rs. 33800 in 2 years and Rs. 43,940 in 3 years, when lent in a scheme of compound interest (compounding annually). If double the sum is invested in the same scheme for 2 years, then what will be the amount obtained at the end of 2 years?
Option 1: Rs. 62480
Option 2: Rs. 67600
Option 3: Rs. 71240
Option 4: Rs. 60420
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Correct Answer: Rs. 67600
Solution : When compounded annually, $ A= P(1+\frac{R}{100})^{T}$, Where A is the total amount, P is the principal amount, R is the rate of interest per annum, and T is the time in years." $ 33800= P(1+\frac{R}{100})^{2}$.....................(I) $ 43940= P(1+\frac{R}{100})^{3}$.................(II) Dividing equation II by I, we get, $\frac{43940}{33800}=1+\frac{R}{100}$ $⇒\frac{R}{100} =\frac{43940}{33800}-1$ $⇒\frac{R}{100} =\frac{10140}{33800}$ $⇒ R = 30\%$ Put R = 30% in equation I, we get, $33800= P(1+\frac{30}{100})^{2}$ $⇒33800= P×\frac{13}{10}×\frac{13}{10}$ $⇒P = 20000$ Now, when the Principal is double, which means 2 × 20000 = 40000, Total amount $= 40000 (1+\frac{30}{100})^{2}=40000×\frac{13}{10}×\frac{13}{10}=67600$ Hence, the correct answer is Rs. 67600.
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Question : A sum of Rs. 3000 becomes Rs, 4320 in 2 years at a certain rate of compound interest (compounding annually). How much this sum will become after 4 years?
Option 1: Rs. 7568.50
Option 2: Rs. 6220.80
Option 3: Rs. 6516.80
Option 4: Rs. 5128.50
Question : Find the sum of money invested by a man in a scheme that offers compound interest(compounding annually) at a 6% rate of interest per annum if compound interest for 2 years is Rs. 618.
Option 1: Rs. 7000
Option 2: Rs. 9000
Option 3: Rs. 5000
Option 4: Rs. 4000
Question : A sum was lent for one year at the rate of 16 percent per annum on compound interest (compounding annually). If the compounding had been done half yearly, then the interest would have increased by Rs. 64. What was the sum lent?
Option 1: Rs. 10000
Option 2: Rs. 6000
Option 3: Rs. 14000
Option 4: Rs. 20000
Question : The amount received on a certain sum after 3 years and 5 years on compound interest (compounding annually) is Rs. 20,736 and Rs. 29,859.84 respectively. What is that sum?
Option 1: Rs. 9000
Option 2: Rs. 14,000
Option 3: Rs. 15,000
Option 4: Rs. 12,000
Question : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 250000 becomes Rs. 275625 in 2 years?
Option 1: 8% per annum
Option 2: 3% per annum
Option 3: 10% per annum
Option 4: 5% per annum
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