6.
Kamal borrows Rs. 500 from a bank. If the bank charges interest at 6% per annum, how much amount shall he pay after 2 years?
• A.
Rs. 560.00
• C.
Rs. 572.70
• B.
Rs. 561.80
• D.
Rs. 512.40
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Explanation :

 Amount = 500 1 + 6 2 100

 = 500 53 2 50

 = 500 x 53 x 53 50 50

 = 2,809 5

 = 561.80

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7.
The difference between the simple interest and the compound interest on Rs. 60 for 1 year at 10% per annum, reckoned half-yearly is
• A.
Rs. 1
• C.
Rs. 2
•  B. 1 1 2
• D.
None of these
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Explanation :

 S.I. = 600 x 10 x 1 = Rs. 60. 100

C.I. = 600
 1 + 10 100 x 2
2x1 - 1

= 600
 21 20
2 -1    =
 600 x 41 20 x 20
= Rs. 61.50.

 Difference = Rs. (61.50 - 60) = Rs. 1.50.

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8.
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same sum at the same rate and for the same time?
• A.
Rs. 51.25
• C.
Rs. 54.25
• B.
Rs. 52
• D.
Rs. 60
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Explanation :

Sum = Rs.
 50 x 100 2 x 5
= Rs. 500.

Amount = Rs.
 500 x 1 + 5 2 100
= Rs.
 500 x 21 x 21 20 20
= Rs. 551.25

 C.I. = Rs. (551.25 - 500) = Rs. 51.25

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9.
What will be the amount if a sum of Rs. 5000 is placed at compound interest for 3 years while rate of interest for the first, second and third years is 2, 3 and 4 percent, respectively?
• A.
Rs. 5643.12
• C.
Rs. 6413.12
• B.
Rs. 5463.12
• D.
None of these
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Explanation :

 Here, P = 5000, R1 = 2, R2 = 3 and R3 = 4.

 Amount after 3 years

= P
 1 + R1 100

 1 + R2 100

 1 + R3 100

= 5000
 1 + 2 100

 1 + 3 100

 1 + 4 100

 = 5000 x 51 x 103 x 26 50 100 25

 = Rs. 5463.12

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10.
Simple interest on a sum at 4 % per annum for 2 years is Rs. 80. The compound interest  on the same sum for the same period is
• A.
Rs. 81.60
• C.
Rs. 1081.60
• B.
Rs. 160
• D.
None of these
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