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
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Correct Answer: Rs. 3,745.92
Solution : Given: Simple interest on amount $P$ after 10 years = 40% of $P$ Term for Simple Interest, $n_1$ = 10 years Sum for compound interest, $P$ = Rs. 30,000 Term for compound interest, $n_2$ = 3 years Simple interest after $n_1 $ years = $\frac{Pn_1R}{100}$ 40% of $P = \frac{P×10×R}{100}$ ⇒ $R$ = 4% So, Rate, $R$, for compound interest = 4% When compounded annually, compound interest after $n_2$ years = $P[(1+\frac{R}{100})^{n_2}-1]$ = $30000[(1+\frac{4}{100})^{3}–1]$ = Rs. 3,745.92 Hence, the correct answer is Rs. 3,745.92.
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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. 30,000 after 2 years at the same rate?
Option 1: 6150
Option 2: 7687.50
Option 3: 4612.50
Option 4: 3075
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 : 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 : A sum amounts to Rs. 6580 in 2 years and amounts to Rs. 7896 in 3 years on compound interest (compounding annually) at the same rate of interest. What is the annual rate of interest?
Option 1: 30%
Option 2: 40%
Option 3: 15%
Option 4: 20%
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
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