Approach to Solve Growth Rate Based Questions

Q.

A sum of money lent out at C.I. at a certain rate per annum becomes three times of itself in 8 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.

Q. Mrs. Sarojini deposits Rs1600 per month in a Cumulative or Recurring Deposit Account at 9% p.a. simple interest. If she gets Rs 65, 592 at the time of maturity, find the total time for which account was held?
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Q.

The time period after which the interest is added each time to form a new principal is called the __________

Q.

Question 58

For fixed time period and rate of interest, the simple interest is directly proportional to the principal.

Q. Rakesh borrowed ₹60, 000 at 12% per annum compound interest. If he pays 50% of the sum borrowed at the end of the first year and 50% of the remaining loan at the end of the second year, then find the amount of loan outstanding at the beginning of the third year.

Q. Kamala borrowed Rs. 26400 from a bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?

1. Rs.35569.7

2. Rs.46659.7

3. Rs.45569.7

4. Rs.36659.7

Q. A man borrows 6000 at 5% compound interest. If he repays 1200 at the end of each year, find the amount outstanding at the beginning of the third year.

Q.

Kamala borrowed Rs. 26400 from a bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years to clear the loan?

1. Rs.35569.7

2. Rs.36659.7

3. Rs.45569.7

4. Rs.46659.7