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1.
The Simple interest on a certain sum for 2 years at 10% per annum is Rs. 90. The corresponding compound interest is
  • A.
    Rs. 99
  • C.
    Rs. 94.50
  • B.
    Rs. 95.60
  • D.
    Rs. 108
  • Answer & Explanation
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Answer : [C]
Explanation :
 
Sum = Rs.   100 x 90    = Rs. 450  
2 x 10  
 
C.I. = Rs. 450 x   1+ 10   2 - 450      
100    
 
  = Rs. 94.50  
 
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2.
The Compound interest on Rs. 20,480 at 6 1 % per annum for 2 years 73 days, is :
4
  • A.
    Rs. 2929
  • C.
    Rs. 3131
  • B.
    Rs. 3000
  • D.
    Rs. 3636
  • Answer & Explanation
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Answer : [A]
Explanation :
 
Time = 2 73  years = 2 1  years.  
365 5  
 
 
 Amount = Rs.   20480 x
  1 + 25   2
4 x 100
 
 
  1 x 25
1 + 5 4
100
 
   
 
= Rs.     20480 x 17 x 17 x 81    = Rs. 23409.  
16 16 80  
 
 
C.I. = Rs. (23409 - 20480) = Rs. 2929      
 
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3.
A sum put out at 4% compound interest payable half-yearly amounts to Rs. 6632.55
in 1 1  years. The sum is
2
  • A.
    Rs. 6530
  • C.
    Rs. 6470
  • B.
    Rs. 6250
  • D.
    None of these
  • Answer & Explanation
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Answer : [B]
Explanation :
 
  Let Rs. x be the sum. Then,  
 
            2 x 3         3    
  6632.55 = x =   1 + 4 2  = x   51    
2 x 100     50      
 
 
 
  x = 6632.55 x 50 x 50 x 50      
    51 x 51 x 51      
 
  = 6250  
 
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4.
A bank offers 5% compound interest calculated on half-yearly basics. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
  • A.
    Rs. 120
  • C.
    Rs. 122
  • B.
    Rs. 121
  • D.
    Rs. 123
  • Answer & Explanation
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Answer : [B]
Explanation :
 
   Amount = Rs.   1600 x
  1 + 5  
2 x 100
2 + 1600 x
  1 + 5  
2 x 100
     
 
   = Rs.  
1600 x 41 x 41  + 1600 x 41
40 40 40
     
 
   = Rs.  
1600 x 41   41  + 1  
40 40
   = Rs.
  1600 x 41 x 81  
40 x 40
 = Rs. 3321.
 
   C.I. = Rs. (3321 - 3200) = Rs. 121.      
 
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5.
A sum amounts to Rs. 1352 in 2 years at 4% compound interest. The sum is
  • A.
    Rs. 1300
  • C.
    Rs. 1260
  • B.
    Rs. 1250
  • D.
    Rs. 1200
  • Answer & Explanation
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Answer : [B]
Explanation :
 
Let the sum be P. Then,
 
1352 = P   1 + 4   2  
100  
 
 
 
  1352 = P x 26 x 26  
  25 25  
 
 
 
  P =  1352 x 25 x 25  = 1250  
  26 x 26  
 
 
 
 Principal = Rs. 1250  
   
 
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