a man invest Rupees 4687 at 4% per annum compound interest for 3 years calculate
Answers
Answer:
Step-by-step explanation:
1. Out of a sum of Rs 850, a part was lent at
6% SI and the other at 12% SI. If the
interest on the first part after 2 years is
equal to the interest on the second part after
4 years, then the second sum is
A) Rs350
B) Rs280
C) Rs170
D) Rs220
E) None
View Answer
Option C
Solution:
Let the first part be x then second part be
850-x.
(x*6*2)/100 = [(850-x)*12*4]/100
x= 850*4 -4x
5x=850*4
x=680
Then second part 850-680=Rs 170.
2. A sum of Rs. 550 was taken as a loan. This
is to be paid back in two equal installments.
If the rate of interest be 20% compounded
annually, then the value of each installment
is :
A) Rs360
B) Rs280
C) Rs250
D) Rs320
E) None
View Answer
Option A
Solution:
Let x = equal installment at the end of one
year( rate% annually) .
Now 1st year,
P =550,
Interest = (550*20*1)/100 = 110.
Now, at the beginning of 2nd year,
P =550 + 110 – x
Interest at the end of 2nd year,
= [(660 – X) *20*1]/100 = 132 –x/5.
Hence,total installment,
2x = 550 + 110 + 132 – x/5
2x + x/5= 792
x = 360.
3. A certain sum of money amounts to
Rs.1300 in 2 years and to Rs. 1525 in 3.5
years. Find the sum and the rate of interest.
A) Rs850, 10%
B) Rs900, 12%
C) Rs800, 13%
D) Rs1000,15%
E) None
View Answer
Option D
Solution:
1525-1300= 225 for 1.5 yrs (3.5-2)
so for one yr 225/1.5= 150
then for 2 yrs interest is 150+150=300
Then principal 1300-300=1000.
Now 150/1000*100= 15%
4. The simple interest on a certain sum of
money for 3 years at 8% per annum is half
the compound interest on Rs. 4000 for 2
years at 10% per annum. The sum placed
on simple interest is:
A) Rs1800
B) Rs1750
C) Rs2000
D) Rs1655
E) None
View Answer
Option B
Solution:
CI =[4000 *(1 + 10/100)2
– 4000]
=4000*11/10*11/10 – 4000
=Rs840.
Then Sum in SI 420 (ie840/2)=
(P*3*8)/100
=Rs1750.
5. A Woman took a loan of Rs. 15,000 to
purchase a mobile. She promised to make
the payment after three years. The company
charges CI at 20% per annum for the same.
But, suddenly the company announces the
rate of interest as 25% per annum for the
last one year of the loan period. What extra
amount she has to pay due to the
announcement of new rate of interest?
A) Rs12
B) Rs1135