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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Correct Answer: 5% per annum
Solution : Given, Amount = Rs. 275625 Principal = Rs. 250000 Time = 2 years We know, $A = P(1 + \frac{R}{100})^n$ ⇒ $275625=250000(1+\frac{R}{100})^2$ ⇒ $(1+\frac{R}{100})^2=\frac{275625}{250000}$ ⇒ $(1+\frac{R}{100})=\sqrt\frac{275625}{250000}$ ⇒ $(1+\frac{R}{100})=\frac{525}{500}$ ⇒ $\frac{R}{100}=\frac{525}{500}-1$ ⇒ $\frac{R}{100}=\frac{25}{500}$ ⇒ $R=\frac{25}{5}= 5$% Hence, the correct answer is 5% per annum.
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Question : At what rate of compound interest per annum, a sum of Rs. 20,000 becomes Rs. 23,152.50 in 1 year and 6 months compounded half-yearly?
Option 1: 10% per annum
Option 2: 5% per annum
Option 3: 12% per annum
Option 4: 8% per annum
Question : The compound interest (compounding annually) on a certain sum for 2 years at the rate of 20 percent per annum is Rs. 2420. What will be the simple interest on the same sum for 3 years at the same rate of interest?
Option 1: Rs. 3300
Option 2: Rs. 3000
Option 3: Rs. 3800
Option 4: Rs. 4200
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 : The difference between simple interest and compound interest (compounding of interest is done annually) on a certain sum of money for 3 years at the rate of 20 percent per annum is Rs. 192. What is the sum?
Option 1: Rs 1500
Option 2: Rs 1400
Option 3: Rs 1000
Option 4: Rs 1200
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
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