PRACTICE PROBLEMS (COMPOUND INTEREST)

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PRACTICE PROBLEMS (COMPOUND INTEREST)

Q1. Find the amount on Rs. 60,000, if the interest is compounded half-yearly at 4 percent per annum for one and half years. 
(a) Rs. 63672.48
(b) Rs. 62424.00
(c) Rs. 67491.84
(d) Rs. 64896.00
(e) None of these


Q2. Rs. 25000 is borrowed at CI at the rate of 3% for the first year, 4% for the second year and 5% for the third year. Find the amount to be paid after 3 years. 
(a) Rs. 28119 
(b) Rs. 29118
(c) Rs. 28129
(d) Rs. 28117
(e) None of these

Q3. If a sum of money at compound interest amounts to thrice itself in 3 years, then in how many years will it be 9 times itself? 
(a) 12 years
(b) 6 years
(c) 9 years
(d) 15 years
(e) None of these

Q4. At what rate per cent will the compound interest, does a sum of money become 16 times in 4 years? 
(a) 100%
(b) 150%
(c) 50%
(d) 75%
(e) None of these

Q5. If the CI on a certain sum for 2 years at 6% be Rs. 25.75, what would be the SI? 
(a) Rs. 25
(b) Rs. 24
(c) Rs. 20
(d) Rs. 15
(e) None of these

Q6. On a certain sum of money, the simple interest for 2 years is Rs. 140 at the rate of 4% per annum. Find the difference in CI and SI.  
(a) Rs. 3
(b) Rs. 1.5
(c) Rs. 2.8
(d) Rs. 1.8 
(e) None of these

Q7. On what sum will the difference between the simple and compound interests for 3 years at 3 per cent per annum amount to Rs. 27.27?
(a) Rs. 5000
(b) Rs. 10000
(c) Rs. 8000
(d) Rs. 9000
(e) None of these

Q8. A certain amount of money at compound interest grows uptoRs. 6560 in 3 years and uptoRs. 7216 in 4 years. Find the rate per cent per annum. 
(a) 10%
(b) 5%
(c) 8%
(d) 6%
(e) None of these

Q9. What sum of money at compound interest will amount to Rs. 480 at the end of the first year and Rs. 576 at the end of the second year? 
(a) Rs. 420 
(b) Rs. 450
(c) Rs. 400
(d) Rs. 375
(e) None of these

Q10. Find the ratio of CI to SI on a certain sum at 45% per annum for 2 years. 
(a) 49 : 47 
(b) 49 : 42 
(c) 49 : 40
(d) 48 : 49 
  (e) None of these

Q11. Rs. 2400 becomes Rs. 3000 in 3 years at a certain rate of compound interest. What will be the sum after 6 years? 
(a) Rs. 4750
(b) Rs. 3750 
(c) Rs. 3570
(d) Rs. 3600
(e) None of these

Q12. Find the compound interest on Rs. 5000 for 3 years if the rate of interest is 5% for the first year, 6% for the second year and 10% for the third year. 
(a) Rs. 120.5
(b) Rs. 125.5
(c) Rs. 120
(d) Rs. 130
(e) None of these

Q13. A man borrows Rs. 4000 at 20% compound rate of interest. At the end of each year he pays back Rs. 1500. How much amount should he pay at the end of the third year to clear all his dues? 
(a) Rs. 2592 
(b) Rs. 2852 
(c) Rs. 2952 
(d) Rs. 2953
  (e) None of these

Q14. Divide Rs. 1105 between A and B, so that A’s share at the end of 5 years may equal B’s share at the end of 7 years, compound interest being at 10%. 
(a) Rs. 505, Rs. 600
(b) Rs. 605, Rs. 500 
(c) Rs. 705, Rs. 400 
(d) Rs. 625, Rs. 480 
(e) None of these

Ans: 1) a        2) a     3) b     4) a     5) a     6) c      7) b     8) a     9) c      10) c
        11) b       12) e   13) c   14) b   








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