Interest

Q.

One rupee interest means how much percentage?

Q.

Calculate the amount and compound interest on

(a ) $Rs10800$ for $3$ years at $12\frac{1}{2}\%$ per annum compounded annually.

(b) $Rs18000$ for $2\frac{1}{2}$ years at $10\%$ per annum compounded annually.

(c) $Rs.62500$ for $1\frac{1}{2}$ years at $8\%$ per annum compounded half yearly.

(d) $Rs.8000$ for $1$ year at $9\%$ per annum compound half yearly.

(You could use the year by year calculation using SI formula to verify)

(e) $Rs.10000$ for $1$ year at $8\%$ per annum compounded half yearly.

Q. Find the difference between simple interest and compound interest on ₹20000 at 8 p.c.p.a.

Q.

Compound interest is always greater than or equal to simple interest

1. True

2. False

Q.

What is the sum of money in simple interest?

Q.

Vasudevan invested $Rs.60000$ at an interest rate of $12\%$ per annum compounded half-yearly. What amount would he get

(i) after $6$ months?

(ii) after $1$ year?

Q.

A man has a Recurring deposit account in a bank for 3 years. The rate of interest is 8% per annum and man gets Rs. 20220 on maturity. The value of the monthly instalment is ___

1. Rs. 500

2. Rs. 600

3. Rs. 700

4. Rs. 200

Q.

Fabina borrows Rs 12, 500 at 12% per annum for 3 years at simple interest and Radha borrows the same amount for the same time period at 10% per annum, compounded annually. Who pays more interest and by how much?

Q.

Calculate the amount on ₹ 15, 000 in 2 years and at 12 % compounded annually

1. ₹ 18, 168

2. ₹ 18, 800

3. ₹ 18, 816

4. ₹ 18, 018

Q. Find the CI, if ₹1000 was invested for 3 years at 10% p.a. compounded yearly.

1. 1331
2. 1000
3. 331
4. 451

Q.

Compound interest acquired is always greater than simple interest.

1. True

2. False

Q.

Find the interest and the amount on:
(i) Rs. 750 in 3 years 4 months at 10% per annum
(ii) Rs. 5000 at 8% per year from 23rd December 2011 to 29th july 2012.
(iii) Rs. 2600 in 2 years 3 months at 1% per month.
(iv) Rs. 2600 in 2 years 3 months at 1% per month.

Q.

A sum of money doubles itself in $3$ years at compound interest, when the interest is compounded annually.In how many years will the sum amount to $16$ times of itself?

1. $8$ years
2. $12$ years
3. $6$ years
4. $16$ years

Q. Find the amount and the compound interest on Rs 5, 000 at 5% per annum for one year if the interest is payable half-yearly.
(Solve without using formula)

Q. Find the compound interest earned on a sum of ₹400 in 2 years at the rate of 25% p.a.

1. 225

Q. Calculate the amount and compound interest on ₹10, 800 for 3 years at $12\frac{1}{2}$% per annum compounded annually.

Q.

Find the amount and compound interest on ₹ 1600 for 2 years at the rate of 5% per annum.

1. (i) ₹ 1764 (ii) ₹ 164

2. (i) ₹ 1674 (ii) ₹ 174

3. (i) ₹ 1774 (ii) ₹ 104

4. (i) ₹ 1467 (ii) ₹ 184

Q.

A man invests ₹ 6, 000 at a certain rate of interest, compounded annually. At the end of one year, it amounts to ₹ 6, 600. What is the rate of interest per annum?

1. $8$

2. $9$

3. $10$

4. $12$

Q.

Where do we use compound interest?

Q. The simple interest on a certain sum at 5% for 9 months is Rs.10 greater than the simple interest on the same sum at 3% for 14 months.Find the sum of interest in both the cases.(i.e. total sum of interest)

Q. When to use simple interest formula in finding compound interest and when to use amount formula in finding compound interest

Q.

Find the amount and the compound interest on Rs 10, 000 for years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?

Q. calculate the amount and compound interest on $ 156250 for one and a half year at 8% pa compounded annually.

Q.

A person deposited 20, 000 rupees in a bank which gives 6% interest compounded half-yearly. How much would he get back after 2 years?

Q. Find the compound interest earned on a sum of ₹400 in 2 years at the rate of 25% p.a.

1. 225

Q.

Question 9

For calculation of interest compounded half-yearly, keeping the principal same, which one of the following is true?
(a) Double the given annual rate and half the given number of years
(b) Double the given annual rate as well as the given number of years
(c) Half the given annual rate as well as the given number of years
(d) Half the given annual rate and double the given number of years

Q. 18. A man invested Rs.35000, A part of it at an annual interest at the rate of 12%&the rest at 14%.If he received a total interest of Rs.4460, how much did he invest at each rate.

Q.

Find the simple interest for a sum of ₹ 15, 000 invested for 2 years at 8 % per annum

1. ₹ 2000

2. ₹ 2400

3. ₹ 2800

4. ₹ 3200

Q.

Question 27

Amount when interest is compounded annually, is given by the formula ___

Q.

A sum of ₹10, 000 is borrowed at a rate of interest 15% per annum for 2 years. Find the amount to be paid at the end of 2 years.

1. ₹13, 000

2. ₹12, 800

3. ₹13, 100

4. ₹12, 900