Compound Interest

Compound Interest

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Aptitude miscellaneous
  1. The principal amount which yields a compound interest of ₹ 208 in the second year at 4% is








  1. View Hint View Answer Discuss in Forum

    Let the principal be ₹ P.
    Amount after first year = (P x 104)/100 and
    amount after second year P x (104/100) x (4/100)
    According to the question.
    (P x 104 x 4)/(100 x 100) = 208

    Correct Option: A

    Let the principal be ₹ P.
    Amount after first year = (P x 104)/100 and
    amount after second year P x (104/100) x (4/100)
    According to the question.
    (P x 104 x 4)/(100 x 100) = 208
    ∴ P = ₹ 5000

  1. The simple interest on a certain sum for 2 yr is ₹ 120 and compound interest is ₹ 129. Find the rate of interest.








  1. View Hint View Answer Discuss in Forum

    Here, n = 2 yr, SI = ₹ 120 and CI = ₹ 129
    CI = SI (1+ R/200)
    ⇒ 129 = 120(1 + R/200)

    Correct Option: B

    Here, n = 2 yr, SI = ₹ 120 and CI = ₹ 129
    CI = SI (1+ R/200)
    ⇒ 129 = 120(1 + R/200)
    ⇒ 129/120 = 1 + R/200
    ⇒ (129/120) - 1 = R / 200
    ⇒ 9/120 = R/200
    ∴ R = (9 x 200)/120 = 15%

  1. The height of a tree increases every year 1/8 times. If the present height of the tree is 64 cm, then what will be its height after 2 yr?








  1. View Hint View Answer Discuss in Forum

    Percentage growth = (1/8) x 100 % = 12.5%
    Height after 2 yr = 64 x (1+ 12.5/100)2

    Correct Option: C

    Percentage growth = (1/8) x 100 % = 12.5%
    Height after 2 yr = 64 x (1+ 12.5/100)2
    = 64 x (9/8) x (9/8) = 81 cm

  1. An amount at the rate of 5% pa becomes ₹ 10 more at compound interest than that of simple interest after 2 yr. Calculate the principal.








  1. View Hint View Answer Discuss in Forum

    Here, CI - SI = 10, R = 5%, n = 2 yr and P = ?
    According to the formula,
    CI - SI = PR2/1002
    ⇒ 10 = (P x 25)/10000

    Correct Option: A

    Here, CI - SI = 10, R = 5%, n = 2 yr and P = ?
    According to the formula,
    CI - SI = PR2/1002
    ⇒ 10 = (P x 25)/10000
    ∴ P = (400 x 10) = ₹ 4000

  1. A certain sum at compound interest amounts to ₹ 12960 in 2 yr and ₹ 13176 in 3 yr. Find the rate per cent per annum.








  1. View Hint View Answer Discuss in Forum

    SI for on ₹ 12960 for 1 yr
    = 13176 - 12960 = ₹ 216
    By formula, SI = (P x R x T)/ 100
    ⇒ 216 = (12960 x R x 1)/100

    Correct Option: C

    SI for on ₹ 12960 for 1 yr
    = 13176 - 12960 = ₹ 216
    By formula, SI = (P x R x T)/ 100
    ⇒ 216 = (12960 x R x 1)/100
    ∴ R = 5/3 = 12/3