11.
 On what sum will the compound interest for 2 1 years at 10% amount to Rs. 6352.50? 2
• A.
Rs. 7000
• C.
Rs. 5000
• B.
Rs. 8000
• D.
None of these
• Answer & Explanation
• Report
Answer : [C]
Explanation :

We have, 6352.50 = P
 1 + 10 100
2

 1 x 10 1 + 2 100

= P
 11 10
2
 21 20

P = 6352.50 x 10 x 10 x 20  = Rs. 5000.
11 x 11 x 21

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12.
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in year) is :
• A.
2
• C.
3
•  B. 2 1 2
• D.
4
• Answer & Explanation
• Report
Answer : [A]
Explanation :

Amount = Rs. (30000 + 4347) = Rs. 34347.

Let the time br n years. Then,

 30000 1 + 7 n = 34347 100

107   n = 34347 = 11449 =   107   2
100 30000 10000 100

 n = 2 years.

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13.
A man borrows Rs. 12,500 at 20% compound interest. At the end of every year he pays Rs. 2000 as part repayment. How much does he still owe after three such installments?
• A.
Rs. 12,000
• C.
Rs. 15,600
• B.
Rs. 12,864
• D.
None of these
• Answer & Explanation
• Report
Answer : [D]
Explanation :

Balance

= Rs.

 12500 x 1 + 20 3 100
-
 2000 x 1 + 20 2 100
+ 2000 x
 1 + 20 100
+ 2000

= Rs.

 12500 x 6 x 6 x 6 5 5 5
 - 2000 x 6 x 6 + 2000 x 6 + 2000 5 5 5

= Rs. [21600 - (2880 + 2400 + 2000)] = Rs. 14320.

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14.
The present worth of Rs. 169 due in 2 years at 4% per annum compound interest is:
• A.
Rs. 150.50
• C.
Rs. 156.25
• B.
Rs. 154.75
• D.
Rs. 158
• Answer & Explanation
• Report
Answer : [C]
Explanation :

Present worth = Rs.
169
 1 + 4 2 100
= Rs.
 169 x 25 x 25 26 26
= Rs. 156.25

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15.
A man borrowed Rs. 3125 for compound interest and it amounted to Rs. 4500 in 2 years. The rate of compound interest per annum is
• A.
30%
• C.
20%
• B.
25%
• D.
15%
• Answer & Explanation
• Report
Answer : [C]
Explanation :

 4500 = 3125 1 + r 2 100

1 + r   2 = 4500
100 3125

1 + r = 6
100 5

r = 6  - 1 = 1
100 5 5

 r = 20%.

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