1020.Murali deposited a certain sum of money at S.I, which amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. What is the money deposited by murali ?
Rs.600
Rs.300
Rs.250
Rs.800
Explanation:
We can observer here that the amount grew upto Rs.1020 after a further period of 5 years.
This implies that interest is being added to the principal every year for the next 5 years.
So Rs.300 has been added in 5 years.
That is for every year the bank must have added Rs.60 to the account.
Now for the first two years bank has added Rs.120.
So the money deposited by Murali = Rs.720 - 120 = Rs.600
We can observer here that the amount grew upto Rs.1020 after a further period of 5 years.
This implies that interest is being added to the principal every year for the next 5 years.
So Rs.300 has been added in 5 years.
That is for every year the bank must have added Rs.60 to the account.
Now for the first two years bank has added Rs.120.
So the money deposited by Murali = Rs.720 - 120 = Rs.600
1021.The simple interest on a sum of money will be Rs. 600 after 10 years. If the principle is trebled after 5 years, what will be the total interest at the end of the tenth year?
Rs.1100
Rs. 500
Rs. 1200
Rs. 900
Explanation:
We know that interest is directly proportional to time and principal.
If the total interest for 10 years is Rs.600, It is Rs.300 for the first 5 years.
Now the principal trebled after 5 years.
So we get 3 times more interest for the next 5 years.
So instead of Rs.300 we get Rs.900. So total interest = Rs.300 + Rs.900 = Rs.1200
We know that interest is directly proportional to time and principal.
If the total interest for 10 years is Rs.600, It is Rs.300 for the first 5 years.
Now the principal trebled after 5 years.
So we get 3 times more interest for the next 5 years.
So instead of Rs.300 we get Rs.900. So total interest = Rs.300 + Rs.900 = Rs.1200
1022.An amount becomes 4 times in 7 years when invested under SI at a certain rate. In how many years will the amount become 16 times of the original amount at the same rate?
40 Years
45 Years
35 Years
25 Years
Explanation:
If we invest Rs.100 in bank it becomes Rs.400 in 7 years.
Interest earned on the principal is equal to Rs.300.
In other words in 7 years bank gives Rs.300 if we invest Rs.100.
Now if we want to earn 16 times of the investment, then bank has to give 1500 interest for Rs.100.
As we know that bank gives Rs.300 for 7 years, We must keep our money in bank for 35 years to get an interest of Rs.1500. So answer is 35 years.
If we invest Rs.100 in bank it becomes Rs.400 in 7 years.
Interest earned on the principal is equal to Rs.300.
In other words in 7 years bank gives Rs.300 if we invest Rs.100.
Now if we want to earn 16 times of the investment, then bank has to give 1500 interest for Rs.100.
As we know that bank gives Rs.300 for 7 years, We must keep our money in bank for 35 years to get an interest of Rs.1500. So answer is 35 years.
1023.A sum was put at simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 400 more. Find the sum.
Rs. 5000
Rs. 3500
Rs. 4500
Rs. 5500
Explanation:
For two years we got Rs.400 more so for 1 year, we must get Rs.200 extra. Assume we invested Rs.100 in bank.
If bank gives us 4% higher rate it gives Rs.4 extra.
To get Rs.200 extra we need to invest 200/4 = 50 times of Rs.100. i.e., Rs.5000
For two years we got Rs.400 more so for 1 year, we must get Rs.200 extra. Assume we invested Rs.100 in bank.
If bank gives us 4% higher rate it gives Rs.4 extra.
To get Rs.200 extra we need to invest 200/4 = 50 times of Rs.100. i.e., Rs.5000
1024.Find the amount for Rs. 6000 at 10% per annum, compounded semi-annually for 2 years.
Rs.1395
Rs.1293
Rs.1500
Rs.1595
Explanation:
Here n = 2 years x 2 = 4 periods
Similarly, R =102102= 5% (for half year)
P = 6,000
A = 6,000(1+5100)4(1+5100)4 = Rs. 7,293
Interest = Rs.7293 - 6000 = 1293
Here n = 2 years x 2 = 4 periods
Similarly, R =102102= 5% (for half year)
P = 6,000
A = 6,000(1+5100)4(1+5100)4 = Rs. 7,293
Interest = Rs.7293 - 6000 = 1293
1025.The difference between the CI and SI on a certain amount at 10% per annum for 2 years, compounded annually is Rs. 372. Find the principal.
Rs. 37,200
Rs. 35,200
Rs. 39,200
Rs. 33,200
Explanation:
Let the principal be a.
SI = a×2×10100=a5a×2×10100=a5 and CI = Amount – a = a(1+10100)2(1+10100)2– a = 21100×a21100×a
CI – SI = Rs. 372
21100×a−a521100×a−a5 = Rs. 372
a = Rs. 37,200
Let the principal be a.
SI = a×2×10100=a5a×2×10100=a5 and CI = Amount – a = a(1+10100)2(1+10100)2– a = 21100×a21100×a
CI – SI = Rs. 372
21100×a−a521100×a−a5 = Rs. 372
a = Rs. 37,200
1026.Find compound interest on Rs. 10000 at 10% p.a. for 4 years, if interest is compounded annually.
Rs. 8541
Rs. 7640
Rs. 4641
Rs.5641
Explanation:
Amount = Rs. 10000 x (1110)4(1110)4 = 14641.
Therefore, Compound interest = Rs. 14641 - Rs. 10000 = Rs. 4641
Amount = Rs. 10000 x (1110)4(1110)4 = 14641.
Therefore, Compound interest = Rs. 14641 - Rs. 10000 = Rs. 4641
1027.If a certain sum of money invested at a certain rate of compound interest doubles in 5 years. In how many years will it become 4 times?
20 years.
10 years.
15 years.
5 years.
Explanation:
Since, 22=4.22=4.
Therefore, The amount will become 4 times in 2 x 5 = 10 years.
Since, 22=4.22=4.
Therefore, The amount will become 4 times in 2 x 5 = 10 years.
1028.At what rate per cent of compound interest, a sum of Rs. 2000 will amount to Rs. 2662 in 3 years?
15%
20%
5%
10%
Explanation:
We know that, (1+Rate100)Time=AmountPrincipal(1+Rate100)Time=AmountPrincipal
(1+r)3=26622000=13311000=(1110)3(1+r)3=26622000=13311000=(1110)3
1 + r = 11101110
Therefore, r = 1110−1=1101110−1=110 = 10%
We know that, (1+Rate100)Time=AmountPrincipal(1+Rate100)Time=AmountPrincipal
(1+r)3=26622000=13311000=(1110)3(1+r)3=26622000=13311000=(1110)3
1 + r = 11101110
Therefore, r = 1110−1=1101110−1=110 = 10%
1029.A man invested Rs. 16000 at compound interest for 3 years, interest compounded annually. If he got Rs. 18522 at the end of 3 years, what is rate of interest?
8%
15%
5%
10%
Explanation:
Here, (1+r)3=1852216000=92618000=(2120)3=(1+120)3(1+r)3=1852216000=92618000=(2120)3=(1+120)3
Therefore, Rate of interest = 120120 = 5%
Here, (1+r)3=1852216000=92618000=(2120)3=(1+120)3(1+r)3=1852216000=92618000=(2120)3=(1+120)3
Therefore, Rate of interest = 120120 = 5%
1030.A sum of money amounts to Rs. 2880 in 2 years and 3456 in 3 years at compound interest. Find the sum.
Rs. 2000
Rs. 3000
Rs. 4000
Rs. 2500
Explanation:
Rs. 2880 amounts to Rs. 3456 in one year.
The sum amounts to 34562880=6534562880=65 times of itself
Therefore, Principal = 2880÷(65)2=2880×56×562880÷(65)2=2880×56×56 = Rs. 2000
Rs. 2880 amounts to Rs. 3456 in one year.
The sum amounts to 34562880=6534562880=65 times of itself
Therefore, Principal = 2880÷(65)2=2880×56×562880÷(65)2=2880×56×56 = Rs. 2000
1031.A man borrows Rs. 2100 and undertakes to pay back with compound interest @ 10% p.a. in 2 equal yearly installments at the end of first and second year. What is the amount of each installment?
Rs. 1110
Rs. 1310
Rs. 1210
Rs. 1410
Explanation:
Here, (1 + r) = 1 + 110=1110110=1110
Ratio of principals of two instalments = 1 : 10111011 = 11 : 10
Sum of ratios = 11 + 10 = 21
Principal of first instalment = 2100 x 11211121 = Rs. 1100
Therefore, Instalment = Principal of first instalment x (1 + r)
= 1100 x 11101110 = Rs. 1210
Here, (1 + r) = 1 + 110=1110110=1110
Ratio of principals of two instalments = 1 : 10111011 = 11 : 10
Sum of ratios = 11 + 10 = 21
Principal of first instalment = 2100 x 11211121 = Rs. 1100
Therefore, Instalment = Principal of first instalment x (1 + r)
= 1100 x 11101110 = Rs. 1210
1032.A man borrows Rs. 820 and undertakes to pay back with compound interest @ 5% p.a. in 2 equal yearly instalments at the end of first and second year. What is the amount of each installment?
Rs.156
Rs. 241
Rs. 546
Rs. 441
Explanation:
Here, (1 + r) = 1 + 120=2120120=2120
Ratio of principals of two instalments = 1 : 20212021 = 21 : 20
Sum of ratios = 21 + 20 = 41
Principal of first instalment = 21412141 x 820 = Rs. 420
Therefore, Instalment = Principal of first instalment x (1 + r)
= 420 x 21202120 = Rs. 441
Here, (1 + r) = 1 + 120=2120120=2120
Ratio of principals of two instalments = 1 : 20212021 = 21 : 20
Sum of ratios = 21 + 20 = 41
Principal of first instalment = 21412141 x 820 = Rs. 420
Therefore, Instalment = Principal of first instalment x (1 + r)
= 420 x 21202120 = Rs. 441
1033.A man borrows Rs. 1820 and undertakes to pay back with compound interest @ 20% p.a. in 3 equal yearly installments at the end of first, second and third years. What is the amount of each installment?
Rs. 545
Rs. 750
Rs. 850
Rs. 864
Explanation:
Here, (1 + r) = 1 + 15=6515=65
Ratio of principals for three years = 1 : 56:(56)256:(56)2
= 6262 : 6 x 5 : 5252 (On multiplying each ratio by 6262)
= 36 : 30 : 25
Sum of the ratios = 36 + 30 + 25 = 91
Principal of first installment = 36913691 x 1820 = Rs. 720
Therefore, Installment = Principal of first installment x (1 + r)
= 720 x 6565 = Rs. 864
Here, (1 + r) = 1 + 15=6515=65
Ratio of principals for three years = 1 : 56:(56)256:(56)2
= 6262 : 6 x 5 : 5252 (On multiplying each ratio by 6262)
= 36 : 30 : 25
Sum of the ratios = 36 + 30 + 25 = 91
Principal of first installment = 36913691 x 1820 = Rs. 720
Therefore, Installment = Principal of first installment x (1 + r)
= 720 x 6565 = Rs. 864
1034.A certain sum is to be divided between A and B so that after 5 years the amount received by A is equal to the amount received by B after 7 years. The rate of interest is 10%, interest compounded annually. Find the ratio of amounts invested by them.
121 : 100
131 : 100
161 : 100
151: 100
Explanation:
Let the sum (principal) received by A and B are x and y.
(1 + r) = 1 + 110=1110110=1110
Then, xy=(1110)7−5=(1110)2=121100xy=(1110)7−5=(1110)2=121100
Hence, the ratio in which the sum is divided = 121 : 100
Let the sum (principal) received by A and B are x and y.
(1 + r) = 1 + 110=1110110=1110
Then, xy=(1110)7−5=(1110)2=121100xy=(1110)7−5=(1110)2=121100
Hence, the ratio in which the sum is divided = 121 : 100
1035.A father wants to divide Rs. 5100 between his two sons, Mohan and Sohan who are 23 and 24 at present. Divide the amount in such a way that if their shares are invested at compound interest @ 4% p.a. they will receive equal amount on attaining the age of 26 years. Find Mohans share.
Rs. 2000
Rs. 3500
Rs. 5500
Rs. 2500
Explanation:
Let, Mohan and Sohan receives Rs. x and Rs. y respectively at present.
(1 + r) = 1 + 125=2625125=2625
Then, xyxy = (2625)2−3=(2625)−1=2526(2625)2−3=(2625)−1=2526
Therefore, Mohans share = 25512551 x Rs. 5100 = Rs. 2500
Let, Mohan and Sohan receives Rs. x and Rs. y respectively at present.
(1 + r) = 1 + 125=2625125=2625
Then, xyxy = (2625)2−3=(2625)−1=2526(2625)2−3=(2625)−1=2526
Therefore, Mohans share = 25512551 x Rs. 5100 = Rs. 2500
1036.Find the difference between Compound Interest and Simple Interest on Rs. 4000 for 1 year at 10% p.a., if the interest is compounded half-yearly.
Rs. 15
Rs. 30
Rs. 10
Rs. 20
Explanation:
Since, interest is compounded half-yearly.
Rate of interest is halved and time is doubled.
Rate = 102102% = 5% = 120120
And, Time = 2 x 1 = 2 half-years.
Therefore, Difference between Compound Interest and Simple Interest =
Rs. 4000 x 120120 x 120120 = Rs. 10
Since, interest is compounded half-yearly.
Rate of interest is halved and time is doubled.
Rate = 102102% = 5% = 120120
And, Time = 2 x 1 = 2 half-years.
Therefore, Difference between Compound Interest and Simple Interest =
Rs. 4000 x 120120 x 120120 = Rs. 10
1037.Find the difference between Compounded Interest and Simple Interest on Rs. 1000 for 3 years at 10% p.a., if interest is compounded annually.
Rs. 31
Rs. 21
Rs. 30
Rs.15
Explanation:
Difference between Compound Interest and Simple Interest for 3 years
= Pr2r2 (3 + r) =
Rs. 1000 x 110110 x 110110 x (3+110)(3+110) = Rs. 31
Difference between Compound Interest and Simple Interest for 3 years
= Pr2r2 (3 + r) =
Rs. 1000 x 110110 x 110110 x (3+110)(3+110) = Rs. 31
1038.Find the difference between Compound Interest and Simple Interest on Rs. 10000 for 4 years at 10% p.a., if interest is compounded annually
Rs. 560
Rs. 641
Rs. 450
Rs. 240
Explanation:
Difference between Compound Interest and Simple Interest for 4 years
= Pr2r2 (6 + 4r + r2r2) = 10000 x 110110 x 110110 x (6+410+1100)(6+410+1100)
= 10000 x 1100×6411001100×641100 = Rs. 641
Difference between Compound Interest and Simple Interest for 4 years
= Pr2r2 (6 + 4r + r2r2) = 10000 x 110110 x 110110 x (6+410+1100)(6+410+1100)
= 10000 x 1100×6411001100×641100 = Rs. 641
1039.If Compound Interest on a certain sum for 2 years @ 5% p.a. is Rs. 328, the Simple interest will be ?
Rs. 320
Rs. 420
Rs. 220
Rs. 120
Explanation:
Suppose, Compound Interest for first year = Rs. 100
Then, Compound Interest for second year = Rs. 105
Total Compound Interest for two years = (Rs. 100 + Rs. 105) = Rs. 205
And Simple Interest for two years = 2 x Rs. 100 = Rs. 200
If Compound Interest is Rs. 205, Simple Interest = Rs. 200
If Compound Interest is Rs. 328,
Simple Interest = Rs. 328 x 200205200205
= Rs. 320
Suppose, Compound Interest for first year = Rs. 100
Then, Compound Interest for second year = Rs. 105
Total Compound Interest for two years = (Rs. 100 + Rs. 105) = Rs. 205
And Simple Interest for two years = 2 x Rs. 100 = Rs. 200
If Compound Interest is Rs. 205, Simple Interest = Rs. 200
If Compound Interest is Rs. 328,
Simple Interest = Rs. 328 x 200205200205
= Rs. 320