Compound Interest

Q.

Mr. Pankaj took Health Insurance Policy for his family and paid Rs $900$ as GST. Find the total annual premium paid by him for this policy, the rate of GST being $18\%$

Q.

A sum of money triples itself at compound interest in 12 years. In how many years will it become 9 times?

1. 24 years

2. 36 years

3. None of these

4. 48 years

Q.

The difference between compound interest and simple interest on an amount of Rs. 10, 000 for 2 years is Rs. 64. What is the rate of interest per annum ?

1. 12

2. 11

3. 8

4. None of these

Q.

Find the difference between the compound interest and the simple interest on a sum of Rs.1500 for 2 years at the rate of 10% per annum.

1. 10

2. 15

3. 25

4. 20

Q.

The compound interest on a certain sum invested for two years at the rate of 10% p.a. compounded annually is Rs 4200.

What is the simple interest on the same sum invested for the same time period at the same rate?

1. Rs 4400

2. Rs 4000

3. Rs 3000

4. Rs 3890

Q. A sum of ₹2000 amounts to ₹2662 in 3 years. The rate of compound interest per annum is________.

1. 10

Q. A certain sum of money amounts to ₹6655 in 3 years, compounded annually at the rate of 10% per annum. Find the sum.

1. 5000

Q.

2 years and 4 months can also be expressed as

1. $(2+\frac{2}{3})$ years

2. $(2+\frac{1}{3})$ years

3. $(2+\frac{4}{3})$ years

4. $(2+\frac{3}{12})$ years

Q.

The compound interest on a certain sum of the money at $5\%$per annum for 2 years is Rs. 328. What will be simple interest on the same amount for the same period and at same rate of interest?

1. Rs. 380

2. Rs. 420

3. Rs. 440

4. Rs. 320

Q.

At what rate % p.a, compound interest will Rs 10, 000 amount to Rs 13310 in 3 years?

1. 15%

2. 10%

3. 11%

4. 20%

Q.

What is the compound interest received on Rs 20000 invested for 1 year at the rate of 6% per annum compounded half yearly?

1. Rs 1405

2. Rs 1218

3. Rs 1312

4. Rs 1560

Q.

What sum of money will amount to ₹ 23, 805 in 2 years at 15 % per annum compound interest ?

1. ₹ 20, 000

2. ₹ 18, 000

3. ₹ 18, 500

4. 17, 500

Q. Calculate the amount to be paid at the end of 3 years for a principal of Rs 5, 000 lent at an interest of 5% per annum compounded annually.

1. Rs 5, 512.5
2. Rs 5, 360.18
3. Rs, 5, 788.125
4. Rs 5, 250

Q.

Question 79(iii)

Given, the principal = Rs. 40000, rate of interest = 8% per annum compound annually. Find Interest for 2nd year.

Q.

A sum compounded annually becomes $\frac{49}{16}$ times itself in 2 years. The rate of interest per annum is _____.

1. 25%

2. 50%

3. 75%

4. 60%

Q. Question 1 (d)
Calculate the amount and compound interest on:
d) Rs 8000 for 1 years at 9% per annum compounded half yearly. (you could the year by year calculation using S.I formula to verify).

Q. The difference between amount accumulated due to simple interest and compound interest on a sum for 2 years at $20\%$ per annum is ₹ 440. Calculate the amount to be paid if the interest rate is compounded quarterly.

1. ₹ 14741
2. ₹ 12987
3. ₹ 13458
4. ₹ 10872

Q.

Rohit borrows Rs. 86.000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit's profit in the transaction at the end of two years.

Q.

At a certain rate of interest, the interest after 3 years on Rs. 5000 principal is Rs.1200. What would be the interest on Rs. 12000 for the same time period?

1. 2800

2. 2880

3. 2580

4. 3000

Q.

The compound interest is always same whether there is a decrease or increase in the rate of interest.

1. True

2. False

Q. Match the following with appropriate time periods.

1. T = 1 year
2. T > 1 year
3. Never

Q.

Meena and Anand each lent the same sum of money for 2 years at 5% simple interest rate and at 5% compound interest rate respectively. Anand received ₹15 more than Meena. Find the amount of money lent by them?

1. ₹6600

2. ₹6000

3. ₹5600

4. ₹6500

Q.

Can you give me shortcut formulas to solve questions of compound interest, simple interest, profit and loss, percentage, ratio and proportion... Which can help me to save time in my examination

Thanking you

Regards

Q. How much will ₹50, 000 amount in 3 years compounded yearly, if the rates for the successive years are 6%, 8% and 10% respectively?

1. ₹69, 953
2. ₹66, 490
3. ₹64, 886
4. ₹62, 964

Q.

A person invested Rs 5, 600 at 14% p.a. compounded interest for 2 years. Find the interest for the first year.

1. Rs 800

2. Rs 884

3. Rs 780

4. Rs 784

Q. Harshad and Dhiman are in partnership since 1st April, 2017. No partnership agreement was made. They contributed $Rs.4,00,000$ and $Rs.1,00,000$ respectively as capital. In addition, Harshad advanced an amount of $Rs.1,00,000$ to the firm on 1st October, 2017. Due to long illness, Harshad could not participate in business activities from 1st August to 30th September, 2017. The profit for the year ended 31st March, 2018 amounted to $Rs.1,80,000$. Dispute has arisen between Harshad and Dhiman.
Harshad Claims:
(i) He should be given interest @ 10% per annum on capital and loan;
(ii) Profit should be distributed in proportion of capital;
Dhiman Claims:
(i) Profits should be distributed equally;
(ii) He should be allowed $Rs.2,000p.m$. as remuneration for the period he managed the business in the absence of Harshad
(iii) Interest on Capital and loan should be allowed @ 6% pa.
You are required to settle the dispute between Harshad and Dhiman. Also prepare Profit and Los Appropriation Account.

Q.

Rohan has a recurring deposit account in State Bank of India of Rs 2000 per month at the rate of 10% per annum. He receives Rs 83100 at the time of maturity. What was the time period for which he held the account?

1. 36 months

2. 16 months

3. 24 months

4. 30 months

Q. Calculate the difference between the compound interest and the simple interest on Rs. $8,000$ in three years and at $10\%$ per annum.

Q. Govind borrows Rs. 18, 000 at 10% simple interest. He immediately invests the money borrowed at 10% compound interest compounded half-yearly. How much money does Govind gain in one year?

Q. Calculate the difference between the compound interest and the simple interest on Rs.$7,500$ in two years and at $8\%$ per annum.