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36.
A sum of money becomes Rs. 6690 after three years and Rs. 10035 after six years on compound interest. The sum is -
  • A.
    Rs. 4400
  • C.
    Rs. 4460
  • B.
    Rs. 4445
  • D.
    Rs. 4520
  • Answer & Explanation
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Answer : [C]
Explanation :
 
Let the principal be P, then
 
  P 1 + R 3  = 6690 ...(i)  
100  
 
and P 1 + R 6  = 10,035 ...(ii)  
100  
 
Now, Dividing (ii) by (i), we get
 
 
1 + R 3 = 10035 = 3  
100 6690 2  
 
 
  P x 3  = 6690  
2  
 
 
  P = 6690 x 2  = Rs. 4460  
3  
 
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37.
A bank offers 10% interest rate compounded annually. A person deposits Rs. 10,000 every year in his account. If he does not withdraw any amount, then how much balance will his account show after four years?
  • A.
    Rs. 51051
  • C.
    Rs. 36410
  • B.
    Rs. 45095
  • D.
    Rs. 51000
  • Answer & Explanation
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Answer : [A]
Explanation :
 
  Rs 10000 after 4 years become  
 
  = 10000  
1 + 10
100
  4  
 
 
  = 10000 x 11 x 11 x 11 x 11  = 14641  
10 10 10 10  
 
  Rs 10000 after 3 years become  
 
  = 10000 x 11 x 11 x 11  = 13310  
10 10 10  
 
  Rs 10000 after 2 years become  
 
  = 10000 x 11 x 11  = 12100  
10 10  
 
  Rs 10000 after 1 year become Rs 11000  
 
      Total amount after 4 years = Rs 51051.  
 
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38.
A sum of money at compound interest amounts to Rs. 578.40 in 2 years and to Rs. 614.55 in 3 years. The rate of interest per annum is
  • A.
    4%
  • C.
    		 6 1 %  
    4  
  • B.
    5%
  • D.
    		 8 1 %  
    3  
  • Answer & Explanation
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Answer : [C]
Explanation :
 
  Rate = (614.55-578.40) x 100  
578.40  
 
  =  3615 = 6.25%  
578.40  
 
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39.
What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?
  • A.
    Rs. 550
  • C.
    Rs. 560
  • B.
    Rs. 551.25
  • D.
    Rs. 560.75
  • Answer & Explanation
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Answer : [B]
Explanation :
 
Let each instalment be Rs. x. Then,
 
x + x  = 1025  
1 + 5 1 + 5 2
100   100    
 
  20x + 400x  = 1025    
21 441
 
  820x = 1025 x 441
  x =   1025 x 441    = 551.25  
  820  
 
So, value of each instalment = Rs. 551.25.
 
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40.
A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to 8 times?
  • A.
    6 years
  • C.
    12 years
  • E.
    None of these
  • B.
    8 years
  • D.
    10 years
  • Answer & Explanation
  • Report
Answer : [C]
Explanation :
 
  Amount = Principal   1 + r   n  
100  
 
  In first case 2 = 1   1 + r   4  
100  
 
and in second case
 
  8 = 1   1 + r   n  
100  
 
or, (2)3 =   1 + r   n  
100  
 
or,
  1 + r   4
100
3 =
  1 + r   n
100
 
 
 
or,
  1 + r   12
100
=
  1 + r   n
100
 
 
    n = 12
 
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