# Simple And Compound Interest Including Annuity - Applications

20 Questions
• 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.

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

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