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
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Correct Answer: 3075
Solution : Given: Simple interest on amount $P$ after 8 years = 40% of $P$ Term for simple interest, $n_1$ = 8 years Sum for compound interest, $P$ = Rs. 30000 Term for compound interest, $n_2$ = 2 years Simple interest after $ n_1$ years = $\frac{Pn_1R}{100}$ So, 40% of $P = \frac{P×8×R}{100}$ ⇒ $R$ = 5% So, Rate $R$ for Compound Interest = 5% When compounded annually, Compound Interest after $n$ years = $P[(1+\frac{R}{100})^{n_2}-1]$ = $30000[(1+\frac{5}{100})^{2}–1]$ = Rs. 3075 Hence, the correct answer is 3075.
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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?
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 : 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 : 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 : The Simple interest and Compound interest that can be earned in two years at the same rate are Rs. 1,000 and Rs. 1,040, respectively. What is the rate (percent per annum) of interest?
Option 1: 9
Option 2: 10
Option 3: 8
Option 4: 11
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