Question Detail
- Rs 10123.20
- Rs 10123.30
- Rs 10123.40
- Rs 10123.50
Answer: Option A
Explanation:
\begin{aligned}
(25000 \times (1 + \frac{12}{100})^3) \\
=> 25000\times\frac{28}{25}\times\frac{28}{25}\times\frac{28}{25} \\
=> 35123.20 \\
\end{aligned}
So Compound interest will be 35123.20 - 25000
= Rs 10123.20
Similar Questions :
1. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is
- 4 years
- 5 years
- 6 years
- 7 years
Answer: Option A
Explanation:
As per question we need something like following
\begin{aligned}
P(1+\frac{R}{100})^n > 2P \\
(1+\frac{20}{100})^n > 2 \\
(\frac{6}{5})^n > 2 \\
\frac{6}{5} \times \frac{6}{5} \times \frac{6}{5}\times\frac{6}{5} > 2
\end{aligned}
So answer is 4 years
2. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 1. Find the sum
- Rs 600
- Rs 625
- Rs 650
- Rs 675
Answer: Option B
Explanation:
Let the Sum be P
\begin{aligned}
S.I. = \frac{P*4*2}{100} = \frac{2P}{25}\\
C.I. = P(1+\frac{4}{100})^2 - P \\
= \frac{676P}{625} - P \\
= \frac{51P}{625} \\
\text{As, C.I. - S.I = 1}\\
=> \frac{51P}{625} - \frac{2P}{25} = 1 \\
=> \frac{51P - 50P}{625} = 1 \\
P = 625
\end{aligned}
3. On a sum of money, simple interest for 2 years is Rs 660 and compound interest is Rs 696.30, the rate of interest being the same in both cases.
- 8%
- 9%
- 10%
- 11%
Answer: Option D
Explanation:
Difference between C.I and S.I for 2 years = 36.30
S.I. for one year = 330.
S.I. on Rs 330 for one year = 36.30
So R% = \frac{100*36.30}{330*1} = 11%
4. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years
- 3%
- 4%
- 5%
- 6%
Answer: Option D
Explanation:
Let Rate will be R%
\begin{aligned}
1200(1+\frac{R}{100})^2 = \frac{134832}{100} \\
(1+\frac{R}{100})^2 = \frac{134832}{120000} \\
(1+\frac{R}{100})^2 = \frac{11236}{10000} \\
(1+\frac{R}{100}) = \frac{106}{100} \\
=> R
= 6\%
\end{aligned}
5. Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually
- Rs 312
- Rs 412
- Rs 512
- Rs 612
Answer: Option D
Explanation:
Please apply the formula
\begin{aligned}
Amount = P(1+\frac{R}{100})^n
\\
\text{C.I. = Amount - P}
\end{aligned}
Read more from - Compound Interest Questions Answers
P = Rs 25000, n = 3 years, r = 12% p.a
\(\therefore\) Amount = P\(\Big(1+\frac{r}{100}\Big)^n\) = Rs 25000 x\(\Big(1+\frac{12}{100}\Big)^3\)
= Rs 25000 x \(\Big(\frac{112}{100}\Big)^3\) = Rs 25000 x \(\frac{28}{25}\times\frac{28}{25}\times\frac{28}{25}\)
= RS 35123.20
\(\therefore\) Compound interest = Rs (35123.20 – 25000) = Rs 10123.20
A. Rs. 9000.30
B. Rs. 9720
C. Rs. 10123.20
D. Rs. 10483.20
E. None of these
Solution(By Examveda Team)
$$\eqalign{ & {\text{Amount}} = Rs.\,\left[ {25000 \times {{\left( {1 + \frac{{12}}{{100}}} \right)}^3}} \right] \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,\left( {25000 \times \frac{{28}}{{25}} \times \frac{{28}}{{25}} \times \frac{{28}}{{25}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,35123.20 \cr & \therefore {\text{C}}{\text{.I}}{\text{.}} = Rs.\left( {35123.20 - 25000} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,10123.20 \cr} $$