Question : What is the present value of the sum if the interest compounded at the rate of 18% per annum for two years is 981?
Option 1: INR 2,800
Option 2: INR 2,500
Option 3: INR 3,600
Option 4: INR 2,400
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Correct Answer: INR 2,500
Solution : Given: Compound interest = 981 $r=18$% $t=2$ years Solve by using the formula: Compound interest = $P[(1+\frac{r}{100})^{t}–1]$ to get the desired value where $P$ is principal, $r$ is the rate of interest and $t$ is the time in years. Putting the value in the above formula, we have, ⇒ $981=P[(1+\frac{18}{100})^{2}-1]$ ⇒ $981=P[(\frac{59}{50})^{2}-1]$ ⇒ $981=P[\frac{3481–2500}{2500}]$ ⇒ $981=P[\frac{981}{2500}]$ ⇒ $P=2500$ Hence, the correct answer is INR 2,500.
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Question : The simple interest on a sum of money in 6 years at the rate of 15% per annum is INR 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in INR)?
Option 1: 1800
Option 2: 2000
Option 3: 2700
Option 4: 2400
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
Question : What is the present value of INR 9,360 at an interest rate of 20% at the end of two years compounded annually?
Option 1: INR 6,400
Option 2: INR 6,450
Option 3: INR 6,500
Option 4: INR 6,550
Question : A sum of Rs. 2,000 becomes Rs. 3,120 in two years at a certain rate of simple interest. What is the rate of interest per annum?
Option 1: 34% per annum
Option 2: 33% per annum
Option 3: 30% per annum
Option 4: 28% per annum
Question : If the difference between the compound interest and simple interest on a certain sum of money for 3 years at the rate of 4% per annum is INR 76, then what is the sum?
Option 1: INR 16,725
Option 2: INR 12,925
Option 3: INR 15,625
Option 4: INR 18,825
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