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Simple And Compound Interest Including Annuity - Applications

20 Questions
Simple And Compound Interest Including Annuity - Applications
Questions and Answers
  • 1. 
    S.I on Rs. 3500 for 3 years at 12% per annum is
    • A. 

      Rs. 1200

    • B. 

      1260

    • C. 

      2260

    • D. 

      None of these

  • 2. 
    P = 5000, R = 15, T = 4 using I = PRT/100,I will be
    • A. 

      Rs. 3375

    • B. 

      Rs. 3300

    • C. 

      Rs. 3735

    • D. 

      None of these

  • 3. 
    If P = 5000, T = 1,I = Rs. 300, R will be
    • A. 

      5%

    • B. 

      4%

    • C. 

      6%

    • D. 

      None of these

  • 4. 
    If P = Rs. 4500, A = Rs. 7200, than Simple interest i.e. I will be 
    • A. 

      Rs. 2000

    • B. 

      Rs. 3000

    • C. 

      Rs. 2500

    • D. 

      Rs.2700

  • 5. 
    P = Rs. 12000, A = Rs. 16500, T = 2  years. Rate percent per annum simple interest  will be
    • A. 

      15%

    • B. 

      12%

    • C. 

      10%

    • D. 

      None of these

  • 6. 
    P = Rs. 10000, I = Rs. 2500, R = 12 % SI. The number of years T will be Options: A.1 years B.2 years C.3 years D.None of these
    • A. 

      A

    • B. 

      B

    • C. 

      C

    • D. 

      D

  • 7. 
    P = Rs. 8500, A = Rs. 10200, R = 12 % SI, t will be
    • A. 

      1 yr. 7 mth.

    • B. 

      2 yrs.

    • C. 

      1 yr. 6 mth.

    • D. 

      None of these

  • 8. 
    The sum required to earn a monthly interest of Rs 1200 at 18% per annum SI is 
    • A. 

      Rs. 50000

    • B. 

      Rs. 60000

    • C. 

      Rs. 80000

    • D. 

      None of these

  • 9. 
    A sum of money amount to Rs. 6200 in 2 years and Rs. 7400 in 3 years. Theprincipal and rate of interest are        
    • A. 

      Rs. 3800, 31.57%

    • B. 

      Rs. 3000, 20%

    • C. 

      Rs. 3500, 15%

    • D. 

      None of these

  • 10. 
    A sum of money doubles itself in 10 years. The number of years it would triple itself is
    • A. 

      25 years

    • B. 

      15 years

    • C. 

      20 years

    • D. 

      None of these

  • 11. 
    If P = Rs. 1000, R = 5% p.a, n = 4; What is Amount and C.I. is 
    • A. 

      Rs. 1215.50, Rs. 215.50

    • B. 

      Rs. 1125, Rs. 125

    • C. 

      Rs. 2115, Rs. 115

    • D. 

      None of these

  • 12. 
    Rs. 100 will become after 20 years at 5% p.a compound interest amount
    • A. 

      Rs. 250

    • B. 

      Rs. 205

    • C. 

      Rs. 265.50

    • D. 

      None of these

  • 13. 
    The effective rate of interest corresponding to a nominal rate 3% p.a payable half yearly is 
    • A. 

      3.2% p.a

    • B. 

      3.25% p.a

    • C. 

      3.0225% p.a

    • D. 

      None of these

  • 14. 
    A machine is depreciated at the rate of 20% on reducing balance. The original cost of the machine was Rs. 100000 and its ultimate scrap value was Rs. 30000. The effective life of the machine is
    • A. 

      4.5 years (appx.)

    • B. 

      5.4 years (appx.)

    • C. 

      5 years (appx.)

    • D. 

      None of these

  • 15. 
     If A = Rs. 1000, n = 2 years, R=6% p.a compound interest payable half-yearly, then principal ( P ) is
    • A. 

      Rs. 888.80

    • B. 

      Rs.885

    • C. 

      800

    • D. 

      None of these

  • 16. 
    The difference between C.I and S.I on a certain sum of money invested for 3 years at 6%  p.a is Rs. 110.16. The sum is
    • A. 

      Rs. 3000

    • B. 

      Rs. 3700

    • C. 

      Rs. 12000

    • D. 

      Rs. 10000

  • 17. 
    The population of a town increases every year by 2% of the population at the beginning of that year. The number of years by which the total increase of population be 40% is
    • A. 

      7 years

    • B. 

      10 years

    • C. 

      17 years (app)

    • D. 

      None of these

  • 18. 
    The useful life of a machine is estimated to be 10 years and cost Rs. 10000. Rate of i depreciation is 10% p.a. The scrap value at the end of its life is
    • A. 

      Rs. 3486

    • B. 

      Rs. 4383

    • C. 

      Rs. 3400

    • D. 

      None of these

  • 19. 
    The effective rate of interest corresponding a nominal rate of 7% p.a convertible quarterly is
    • A. 

      7%

    • B. 

      7.5%

    • C. 

      5%

    • D. 

      7.18%

  • 20. 
    The C.I on Rs. 16000 for 1 Vi years at 10% p.a payable half -yearly is 
    • A. 

      Rs. 2222

    • B. 

      Rs. 2522

    • C. 

      Rs. 2500

    • D. 

      None of these