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21.
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum ?
  • A.
    8
  • C.
    12
  • E.
    None of these
  • B.
    10
  • D.
    Cannot be determined
  • Answer & Explanation
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Answer : [A]
Explanation :
 
    15000 x
  1 + R   2
100
 - 15000   -
  15000 x R x 2  
100
 = 96    
 
 
 
15000  
  1 + R   2
100
- 1 -
2R
100
   = 96      
 
 
 
 15000  
(100 + R)2-10000-200R
10000
   = 96      
 
 
 
 R2 = 96 x 2  = 64      
  3      
 
 
 
 R = 8.      
       
 
     Rate = 8%.  
 
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22.
A tree increases annually by 1  th of its height. By how much will it increase after 2 years, if    
8    
it stands today 64 cm high?
  • A.
    72 cm
  • C.
    75 cm
  • B.
    74 cm
  • D.
    81 cm
  • Answer & Explanation
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Answer : [D]
Explanation :
 
  Increase% = 1  x 100 % = 12.5%  
  8  
 
  Height after 2 years = 64 x 1 + 25 2  
  2 x 100  
 
  = 64 x 9 x 9  
  8 8  
 
   = 81 cm      
 
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23.
The difference between the compound interest and the simple interest on Rs. 8000 for 3 years at 5% per annum is
  • A.
    Rs. 61
  • C.
    Rs. 65
  • B.
    Rs. 63
  • D.
    None of these
  • Answer & Explanation
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Answer : [A]
Explanation :
 
  We have,  
 
  C.I. - S.I. = P  
  R  
100  
3 + 3
  R  
100  
2    
 
  = 8000   
  5  
100  
3 + 3
  5  
100  
2    
 
  [Here, P = 8000 and R = 5]  
 
  = 8000   
125 + 7500
100 x 100 x 100
   
 
  = Rs. 61  
 
 
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24.
The difference between the simple interest on a certain sum at the rate off 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum?
  • A.
    Rs. 6000
  • C.
    Rs. 10,000
  • E.
    None of these
  • B.
    Rs. 8000
  • D.
    Rs. 12,000
  • Answer & Explanation
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Answer : [B]
Explanation :
 
Let the sum be Rs. P. Then
 
 
 
P   
  1 + 5   4
100
- 1   =
P x 10 x 2
100
 = 124.05      
 
 
 
P   
  21   4
20
- 1 -
1
5
   = 124.05    
 
 
 
 P  
194481 - 6
160000 5
  =
12405
100
   
 
 
 
P  
194481 - 192000
160000
  =
12405
100
     
 
 
 
 P =  
12405 x 160000
100 2481
   = 8000      
 
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25.
A sum of Rs. 550 was taken as a loan. This is to be repaid in two equal annual instalments. If the rate of interest be 20% compounded annually then the value of each instalment is
  • A.
    Rs. 421
  • C.
    Rs. 360
  • B.
    Rs. 396
  • D.
    Rs. 350
  • Answer & Explanation
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Answer : [C]
Explanation :
 
Let the value of each instalment be Rs. x
 
Then,  
x
+
x
1 + 20
100
1 + 20 2
100
   = 550
 
 
  5x + 25x  = 550  
  6 36  
 
 
  55x  = 550  
  36  
 
      x = 360  
 
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