Compound Interest
- A sum amounts to Rs. 1352 in 2 years at 4% compound interest.The sum is ?
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Let the sum be P.
Then, 1352 = P(1 +4/100)2Correct Option: B
Let the sum be P.
Then, 1352 = P(1 +4/100)2
⇒ 1352 = P x 26/25 x 26/25
⇒ P = (1352 x 25 x 25) / (26 x 26) = 1250
∴ Principal = Rs. 1250
- Rs. 800 at 5% per annum compound interest will amount to Rs. 882 in ?
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Let time be t years
∵ 882 = 800( 1 +5/1000)t
⇒ 882/800 = (21/20)t
Correct Option: B
Let time be t years
∵ 882 = 800( 1 +5/1000)t
⇒ 882/800 = (21/20)t
⇒ (21/20)2 = (21/20)t
⇒ t =2
∴ Time = 2years
- The compound interest on Rs. 2800 for 11/2 years at 10% per annum is ?
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∵ Final Amount = Rs.[2800 x (1 + 10/100) x (1 +5/100)]
= Rs. [ 2800 x 11/10 x 21/20 ]
= Rs. 3234Correct Option: C
∵ Final Amount = Rs.[2800 x (1 + 10/100) x (1 +5/100)]
= Rs. [ 2800 x 11/10 x 21/20 ]
= Rs. 3234
∴ Required C.I. = Rs.(3234 - 2800) = Rs .434
- If Rs. 7500 are borrowed at compound interest at the rate of 4% per annum, then after 2 years the amount to be paid is ?
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Amount = Rs. 7500(1 + 4/100)2
= Rs. 7500 x 26/25 x 26/25
= Rs .8112Correct Option: D
Amount = Rs. 7500(1 + 4/100)2
= Rs. 7500 x 26/25 x 26/25
= Rs .8112
- A sum amounts to Rs. 3149.29 in 3 years at compound interest. The sum is ?
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Let P be the principle and R% per annum be rate
Then, P(1 +R/100)3 = 3149.28 .....(i)
and P(1 + R/100)2 = 2916 .....(ii)Correct Option: C
Let P be the principle and R% per annum be rate
Then, P(1 +R/100)3 = 3149.28 .....(i)
and P(1 + R/100)2 = 2916 .....(ii)
on dividing(i) and (ii) we get
∴ (1 + R/100) = 3149.28/2916
⇒ R/100 = 233.28/2916
⇒ R = 233.28/2916 x 100 = 8%
Now, P(1 + 8/100)2 = 2916
⇒ P x 27/25 x 27/25 = 2916
∴ P = (2916 x 25 x 25)/(27 x 27)
= Rs. 2500