Question : A sum of INR 10,500 amounts to INR 13,650 in 2 years at a certain rate percent per annum simple interest. The same sum will amount to what in 1 year at the same rate if the interest is compounded half yearly (nearest to INR 1 )?
Option 1: INR 12,124
Option 2: INR 12,134
Option 3: INR 12,143
Option 4: INR 12,314
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Correct Answer: INR 12,134
Solution : Given, A sum of INR 10,500 amounts to INR 13,650 in 2 years at a certain rate percent per annum simple interest compounded half-yearly We know, Simple interest = $\frac{\text{Principal × rate × time}}{100}$ Amount = Principal(1 + $\frac{r}{100}$)t If interest is compounded half yearly then time becomes double and the rate becomes half ⇒ Simple interest = 13,650 - 10,500 ⇒ Simple interest = INR 3150 ⇒ 3150 = $\frac{10,500 × r × 2}{100}$ ⇒ 3150 = 105 × r × 2 ⇒ r = $\frac{3150}{105 × 2}$ ⇒ r = 15% Now, For compounded half-yearly Rate = $\frac{15}{2}\%$ Time = 2 years Amount = 10,500(1 + $\frac{15}{200}$)2 = 10,500(1 + $\frac{3}{40}$)2 = 10,500 × $\frac{43}{40} × \frac{43}{40}$ = INR 12,134 Hence, the correct answer is INR 12,134.
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Question : The compound interest (compounding annually) on a certain sum at the rate of 8% per annum for two years is INR 6,656. What would be the simple interest on the same sum at the same rate of interest for two years?
Option 1: INR 5,600
Option 2: INR 6,224
Option 3: INR 6,400
Option 4: INR 6,336
Question : What is the compound interest on a sum of INR 25,000 after three years at a rate of 12 percent per annum interest compounded yearly?
Option 1: INR 10,123.20
Option 2: INR 9,824.00
Option 3: INR 10,520.00
Option 4: INR 9,956.86
Question : A man invests a total sum of INR 10,000 in a company. A part of the sum was invested at 10% simple interest per annum and the remaining part, at 15% simple interest per annum. If the total interest accrued in two years equals INR 2,400, the sum invested at 15% simple interest per annum is:
Option 1: INR 8000
Option 2: INR 4000
Option 3: INR 6000
Option 4: INR 5000
Question : A certain sum amounts to INR 3,640 in 2 years and INR 4,060 in 8 years at simple interest. Find the approximate rate percentage per annum.
Option 1: 4%
Option 2: 2%
Option 3: 1%
Option 4: 3%
Question : The simple interest on a certain sum for 3 years at 14% p.a. is INR 4,200 less than the simple interest on the same sum for 5 years at the same rate. Find the sum.
Option 1: INR 16,000
Option 2: INR 10,000
Option 3: INR 15,000
Option 4: INR 12,000
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