a) Rs. 2160 b) Rs. 3120 c) Rs. 3972 d) Rs. 6240 Answer: c Explanation: $$\eqalign{ & ...
View QuestionThe difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 1. The sum (in Rs.) is:
a) 625 b) 630 c) 640 d) 650 Answer: a Explanation: $$\eqalign{ & {\text{Let}}\,{\text{the}}\,{\text{sum}}\,{\text{be}}\,Rs.\,x.\,{\text{Then}}, ...
View QuestionA bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st ...
View QuestionThe effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is = ?
a) 6.06% b) 6.07% c) 6.08% d) 6.09% Answer: d Explanation: ...
View QuestionA money lender borrows money at 4% per annum and pays the interest at the end of the year. He lends it at 6% per annum compound interest compounded half yearly and receives the interest at the end of the year. In this way, he gains Rs. 104.50, a year. The amount of money be borrows, is ?
a) Rs. 4500 b) Rs. 5000 c) Rs. 5500 d) Rs. 6000 Answer: b Explanation: $$\eqalign{ ...
View QuestionThe compound interest on Rs. 30000 at 7% per annum for a certain time is Rs. 4347. The times is = ?
a) 3 years b) 4 years c) 2 years d) 2.5 years Answer: c Explanation: $$\eqalign{ ...
View QuestionA sum of money placed at compound interest double itself in 4 years. In how many years will it amount to four times itself ?
a) 12 years b) 13 years c) 8 years d) 16 years Answer: c Explanation: ...
View QuestionA sum of money becomes eight times in 3 years, If the rate is compounded annually. In how much time will the same amount at the same compound rate become sixteen times ?
a) 6 years b) 4 years c) 8 years d) 5 years Answer: b Explanation: ...
View QuestionThere is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12000 after 3 years at the same rate ?
a) Rs. 2160 b) Rs. 3120 c) Rs. 3972 d) Rs. 6240 Answer: c Explanation: $$\eqalign{ & ...
View QuestionThe 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) Rs. 1550 b) Rs. 1650 c) Rs. 1750 d) Rs. 2000 Answer: c Explanation: ...
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