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
Correct Answer: INR 6,240
Solution : Amount = $P(1+\frac{r}{100})^{t}$ $P$ = Principal $r$ = rate $t$ = time According to the question, $r$ = $\frac{12}{12}$ × 8 = 8% per 8-months $t$ = $\frac{16}{8}$ = 2 terms Now, ⇒ Amount $= 37500 × (1+\frac{8}{100})^{2} = 37500 × (\frac{27}{25}) × \frac{27}{25} = 43740$ $\therefore$ Compound interest = 43740 – 37500 = 6240 Hence, the correct answer is INR 6,240.
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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
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 : Sudeep invested $\frac{1}{8}$th of a certain sum at 5% p.a. for two years and $\frac{3}{5}$th of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is INR 1,674, then the total sum invested is:
Option 1: INR 13,000
Option 2: INR 12,000
Option 3: INR 10,500
Option 4: INR 12,500
Question : What is the compound interest on a sum of INR 25,000 after three years at a rate of 12% per annum interest compounded yearly?
Option 1: INR 9,824.00
Option 2: INR 10,520.00
Option 3: INR 9,956.86
Option 4: INR 10,123.20
Question : A sum of INR 1,00,000 was taken from a bank at the rate of 7% p.a to be compounded annually for 5 years. Calculate the compound interest. (Closest to an INR)
Option 1: INR 40,000
Option 2: INR 20,963
Option 3: INR 40,567
Option 4: INR 40,255
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