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
Correct Answer: INR 38,115
Solution : Compound Interest (CI) for 2nd year = INR 3300 CI for 3rd year = INR 3630 Interest rate = $\frac{(\text{CI of 3rd year} – \text{CI of 2nd year})}{\text{CI of 2nd year}}$ × 100% ⇒ Interest rate = $\frac{(3630 – 3300)}{3300}$ × 100 = 10% CI for first year = $\frac{3300 × 100}{110}$ = 3000 Let Principal be P, then 10% of P = 3000 ⇒ P × $\frac{1}{10}$ = 3000 ⇒ P = 30,000 So, the total interest for $2\frac{1}{2}$ years = CI for 1st year + CI for 2nd year + $\frac{\text{CI for 3rd year}}{2}$ = 3000 + 3300 + $\frac{3630}{2}$ = 3000 + 3300 + 1815 = 8115 Amount after $2\frac{1}{2}$ years = 30,000 + 8115 = 38,115 Hence, the correct answer is INR 38,115.
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Question : A sum of money becomes INR 35,680 after 3 years and INR 53,520 after 6 years at a certain rate percentage p.a., interest compounded yearly. What is the compound interest on the same sum in the first case? (Your answer should be nearest to an integer)
Option 1: INR 11,983
Option 2: INR 11,893
Option 3: INR 10,842
Option 4: INR 11,938
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
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 cent per annum when the interest is compounded yearly. If INR 10,000 at the same rate of interest is borrowed for two years, then what will be the compound interest (in INR)?
Option 1: 2,544
Option 2: 1,736
Option 3: 2,764
Option 4: 1,965
Question : The compound interest on a certain sum invested for 2 years at 10% per annum is INR 1,522.50, the interest being compounded yearly. The sum is:
Option 1: INR 7,250
Option 2: INR 7,200
Option 3: INR 7,500
Option 4: INR 7,000
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%
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