Question : The amount Rs. 2,100 became Rs. 2,352 in 2 years at Simple Interest. If the interest rate is decreased by 1%, what is the new interest?
Option 1: Rs. 210
Option 2: Rs. 220
Option 3: Rs. 242
Option 4: Rs. 252
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Correct Answer: Rs. 210
Solution : Given: The amount Rs. 2,100 became Rs. 2,352 in 2 years at Simple Interest and the interest rate is decreased by 1%. 1% rate decrease for 1 year. So, the total decrease for 2 years is 2%. Now, 2% of 2100 is = $2100×\frac{2}{100}$ = Rs. 42 Also, total interest = (2352 – 2100) = Rs. 252 $\therefore$ The new interest = (252 – 42) = Rs. 210 Hence, the correct answer is Rs. 210.
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Question : There is a 40% increase in the amount in 10 years at simple interest. What will be the compound interest on Rs. 30,000 after 3 years at the same rate?
Option 1: Rs. 3,745.92
Option 2: Rs. 7,491.84
Option 3: Rs. 9,364.80
Option 4: Rs. 5,618.88
Question : At a certain sum of money with the interest rate of 6% per annum for 4 years, the simple interest is Rs. 4500. Find the compound interest (compounding annually) of 2 years at the same sum when the rate of interest is 4% per annum.
Option 1: Rs. 1,530
Option 2: Rs. 1,430
Option 3: Rs. 1,830
Option 4: Rs. 1,560
Question : Rs. P is invested at 5% per annum at simple interest. After $T$ years an interest of Rs. 82 is earned and the amount becomes Rs. 902. What is the value of $T$?
Option 1: 1 year
Option 2: 2 years
Option 3: 4 years
Option 4: 3 years
Question : There is a 40% increase in an amount in 8 years at simple interest. What will be the compound interest (in Rs.) of Rs. 30,000 after 2 years at the same rate?
Option 1: 6150
Option 2: 7687.50
Option 3: 4612.50
Option 4: 3075
Question : There is a 40% increase in an amount in 8 years at Simple Interest. What will be the Compound Interest (in Rs.) of Rs. 30000 after 2 years at the same rate?
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