Question : A sum of INR $x$ amounts to INR 12,777.60 in 2 years at INR 15% p.a., when the interest is compounded for eight months. The value of $x$ is _____.
Option 1: INR 9800
Option 2: INR 10400
Option 3: INR 9600
Option 4: INR 10200
Correct Answer: INR 9600
Solution : Amount = $P(1+\frac{r}{100n})^{nt}$, where $P$ = Principal $r$ = rate = 15% $t$ = time = 2 years $n$ = period = $\frac{12}{8}$ = $\frac{3}{2}$ Now, ⇒ 12777.60 = $P(1+\frac{10}{100})^{3}$ ⇒ $P = 12777.60 ×(\frac{10}{11}) × (\frac{10}{11}$) × ($\frac{10}{11})$ = 9600 Hence, the correct answer is INR 9600.
Application | Eligibility | Selection Process | Result | Cutoff | Admit Card | Preparation Tips
Question : A sum amounts to INR 7,562 in 4 years and to INR 8,469.44 in 5 years at a certain rate per annum, when the interest is compounded yearly. The rate of interest is:
Option 1: 12%
Option 2: 15%
Option 3: 20%
Option 4: 8%
Question : The compound interest amounts on a certain sum at a certain rate percentage p.a. for the second year and third year are INR 3,300 and INR 3,630, respectively. What is the amount of the same sum at the same rate in $2 \frac{1}{2}$ years, interest compounded yearly?
Option 1: INR 37,215
Option 2: INR 36,300
Option 3: INR 38,115
Option 4: INR 36,000
Question : The simple interest on a sum of money at 10% per annum for 2 years is INR 8,100. What would be the compound interest (in INR) on the same sum for the same period at 15% p.a, when the interest is compounded yearly? (nearest to INR 1)
Option 1: 8,100
Option 2: 12,751
Option 3: 14,671
Option 4: 13,061
Question : A sum of money amounts to INR 1,200 in 2 years and becomes INR 1,260 in 3 years at compound interest when interest is compounded annually. What is the rate of compound interest per annum?
Option 1: 5%
Option 2: 3%
Option 3: 4%
Option 4: 6%
Question : What is the compound interest on a sum of INR 37,500 for $1 \frac{1}{3}$ years at a rate of 12% p.a. if the interest is compounded 8 - monthly?
Option 1: INR 6,420
Option 2: INR 6,448
Option 3: INR 6,240
Option 4: INR 6,440
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile