Q 1

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:

A)

Rs. 400

B)

Rs. 500

C)

Rs. 600

D)

Rs. 800

**Correct Option** -** B****Explanation**

Q 2

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

B)

10

C)

12

D)

None of these

**Correct Option** -** A****Explanation**

Q 3

The difference between compound interest and simple interest on a sum of Rs.10000 for 2 years at a rate of 5% interest is

A)

Rs.25

B)

Rs.20

C)

Rs.10

D)

Rs.5

**Correct Option** -** A****Explanation**

S.I = 10000*2*5/100 = 1000

C.I = [10000(1+(5/100))^2)] - 10000 = 1025

C.I-S.I = Rs.25

Q 4

Ram and Shyam deposit an equal amount of money in a bank at simple interest. Ram deposits for a time thrice as long as Shyam at two-thirds of Shyam’s interest rate. Find the ratio of the interests received by Ram and Shyam.

A)

2:3

B)

2:1

C)

3:2

D)

1:2

**Correct Option** -** B****Explanation**

Let the amount be Rs.P

Interest received by Shyam

= P*T*R/100

Interest received by Ram

=[ P*3T*(2/3)R]/100

= 2PTR/100

Ram’s Interest:Shyam’s Interest = 2:1

Q 5

If the simple interest on a certain sum of money for 3 years at 10% interest is Rs.300, find the compound interest on the same sum for the same time at the same rate of interest.

A)

Rs.300

B)

Rs.321

C)

Rs.210

D)

Rs.331

**Correct Option** -** D****Explanation**

P = 300*100/(3*10) = Rs.1000

A = 1000*(1+(10/100))^3 = 1331

C.I = 1331-1000 =Rs.331

Q 6

Simple interest on Rs.3500 for 2 years at 9% interest is equal to the compound interest on a certain sum of money for the same number of years at 10% per annum. Find the sum of money.

A)

Rs.3310

B)

Rs.3000

C)

Rs.3500

D)

Rs.6300

**Correct Option** -** D****Explanation**

S.I = 3500*2*9/100 = Rs.630

C.I = P[(1+(10/100))^2] – P

= P[(1.1)^2 – 1]

= 0.21P

= 630

P = Rs.3000

Q 7

At what rate of compound interest will a sum of Rs.8000 amount to Rs.8820 in two years?

A)

8%

B)

10%

C)

6%

D)

5%

**Correct Option** -** D****Explanation**

8820 = 8000[(1+(R/100))²]

[1+(R/100)]² = 8820/8000 = 1.1025 = (1.05)²

R = 5%

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