Compound Interest
- 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.
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Here, CI - SI = 10, R = 5%, n = 2 yr and P = ?
According to the formula,
CI - SI = PR2/1002
⇒ 10 = (P x 25)/10000Correct 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
- The principal amount which yields a compound interest of ₹ 208 in the second year at 4% is
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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) = 208Correct 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
- Find the compound interest for a sum of ₹ 9375 in 2 yr, if the rate of interest for the first year is 2% and for the second year is 4%.
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Given, P = ₹ 9375, R1 = 2% and R2 = 4%
According to the formula,
A = P (1 + R1/100) (1 + R2/100)
= 9375 (1 + 2/100) (1 + 4/100)Correct Option: A
Given, P = ₹ 9375, R1 = 2% and R2 = 4%
According to the formula,
A = P (1 + R1/100) (1 + R2/100)
= 9375 (1 + 2/100) (1 + 4/100)
= 9375 x (51/50) x (26/25)
= 7.5 x 51 x 26
= ₹ 9945
Now CI = A - P = 9945 - 9375 = ₹ 570
- The population of a country is 100 crore and it is the possibility that the population will become 13.31 crore in 3 yr. What will be the annual rate percent on this growth?
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Given, P = 10 crore
and population after 3 yr = 13.31 crore
According to the formula,
Population after n yr = P (1 + R/100 )nCorrect Option: C
Given, P = 10 crore
and population after 3 yr = 13.31 crore
According to the formula,
Population after n yr = P (1 + R/100 )n
⇒ 13.31 = 10 (1 + R/100 )3
⇒ 1331/1000 = (1 + R/100 )3
⇒ (11/10)3 = (1 + R/100 )3
⇒ 1 + R/100 = 11/10
⇒ R/100 = 11/10 - 1 = 1/10
∴ R = 10%
- The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is ₹ 48. Then the sum is
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Given that , Difference = C.I. - S.I. = ₹ 48 , Time = 2 years , Rate = 20%
Using the given formula ,Difference of two years = P r2 10000
Correct Option: B
Given that , Difference = C.I. - S.I. = ₹ 48 , Time = 2 years , Rate = 20%
Using the given formula ,Difference of two years = P r2 10000 ⇒ 48 = P 400 10000 ⇒ 48 = P 25
⇒ P = 48 × 25 = ₹ 1200