Compound Interest
Compound Interest - Important Points
| 11. | The difference between compound Interest and simple interest on an amount of Rs. 30,000 for 2 years is Rs. 192. What is the rate of interest per annum? |
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A. 8%
B. 11%
C. 12%
D. 12.5%
View Answer Discuss Work SpaceAnswer: option a
Explanation:
Please refer Important points
| 12. | The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is: |
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A. 7
B. 4
C. 5
D. 8
View Answer Discuss Work SpaceAnswer: option b
Explanation:
| 13. | The difference between simple and compound interest on a certain sum of money for 2 years at 4 per cent per annum is Re.1. The sum of money is: |
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A. Rs.600
B. Rs.625
C. Rs.650
D. Rs.500
View Answer Discuss Work SpaceAnswer: option b
Explanation:
| 14. | A money lender borrows money at 5% per annum and pays the interest at the end of the year. He lends it at 8% per annum compounded half yearly and receives the interest at the end of the year. In this way , he gains Rs 632 a year. The amount of money he borrows is: |
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A. 20000
B. 21000
C. 22500
D. 15000
View Answer Discuss Work SpaceAnswer: option a
Explanation:
| 15. | Simple interest on a certain sum of money at a certain rate of interest is Rs 100 in 2.5 years. But the compound interest on the same sum of money at the same rate of interest compounded annually in 2 years is Rs 85. Find the sum? |
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A. 300
B. 310
C. 320
D. 640
View Answer Discuss Work SpaceAnswer: option c
Explanation:
Compound Interest Questions and Answers FAQ
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