Question : The sum of money which when given on compound interest at 18% per annum would fetch Rs. 960 more when the interest is payable half yearly than when it was payable annually for 2 years is:
Option 1: Rs. 60,000
Option 2: Rs. 30,000
Option 3: Rs. 40,000
Option 4: Rs. 50,000
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Correct Answer: Rs. 50,000
Solution : Given: Rate of interest = 18% and Time = 2 year Also, Amount after Compound Interest calculated half-yearly – Amount after Compound Interest calculated yearly = Rs. 960 Now, when the interest is payable half-yearly, Rate of interest = 9% and Time period = 4 Let the principal amount be Rs. $x$. Compound Interest = $P((1+\frac{R}{100})^T-1)$ Then, compound interest calculated half-yearly = $x((1+\frac{9}{100})^4-1)$ = $x((\frac{109}{100})^4-1)$ = $x(1.4116-1)$ = Rs. $0.4116x$ Also, compound interest calculated yearly = $x((1+\frac{18}{100})^2-1)$ = $x((\frac{118}{100})^2-1)$ = $x(1.3924-1)$ = Rs. $0.3924x$ Now, $0.4116x-0.3924x=960$ $x=\frac{960}{0.0192}$ $x=50000$ Hence, the correct answer is Rs. 50,000.
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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 : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 1,000 become Rs. 1,060.90 in 2 years?
Option 1: 2% per annum
Option 2: 4% per annum
Option 3: 3% per annum
Option 4: 5% per annum
Question : Rs. 6000 is lent at the rate of 20% per annum on compound interest (compounded half yearly). What will be the compound interest of 18 months?
Option 1: Rs. 1825
Option 2: Rs. 1986
Option 3: Rs. 1876
Option 4: Rs. 2036
Question : A certain sum was invested at the rate of 10% for 2 years at Compound interest and compounded annually. The same sum was invested for the same period and the same rate of interest at Simple interest. If the difference between Compound interest and Simple interest was Rs. 200 find the sum.
Option 1: Rs. 30,000
Option 2: Rs. 25,000
Option 3: Rs. 22,000
Option 4: Rs. 20,000
Question : Compound interest on a certain sum of money invested for 1.5 years at the rate of 10% per annum, compounded half-yearly is INR 5,044. What is the sum?
Option 1: INR 32,000
Option 2: INR 37,044
Option 3: INR 33,000
Option 4: INR 22,000
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