1. The interest for the 3rd year on a certain sum at a certain rate of simple interest is 3000. Find the sum of the interests accrued on it in the 6th, 7th and 8th years.
A. 6000
B. 9000
C. 4500
D. 12000
Correct Answer : B
2. Find the effective rate of interest if the normal rate of interest is 10% p.a. and the interest is compounded every six months.
A. 21.5 %
B. 10.25 %
C. 5.25 %
D. 10 %
Correct Answer : B
3. The difference between the interests earned on a principal under a certain rate of compound interest in pth year and (p + 1)th year is more than that in the qth year and (q + 1)th year if
A. p > q
B. p < q
C. p = q
D. can't say
Correct Answer : A
4. Find the interest earned in the first year on 400 at 20% p.a. compound interest, the interest being compounded half yearly.
A. 42
B. 72
C. 84
D. 144
Correct Answer : C
5. If 2000 amounts to 2880 in 2 years at compound interest, what is the rate of interest per annum if the interest is being compounded annually?
A. 10 %
B. 20 %
C. 15 %
D. 25 %
Correct Answer : B
6. If 2000 amounts to 2500 in 2 years at simple interest, what is the rate of interest per annum?
A. 8 %
B. 37.5 %
C. 25 %
D. 12.5 %
Correct Answer : D
7. Find the compound interest earned on 20000 for 2 years at 10% p.a. the interest being compounded annually.
A. 2100
B. 4200
C. 6300
D. 5600
Correct Answer : B
8. Find the simple interest earned on 20000 for 2 years at 10% p.a.
A. 4500
B. 2000
C. 4000
D. 6000
Correct Answer : C
9. Which of the following rates of interest yield the maximum interest in 2 years or a certain sum?
A. Interest compounded per month at 1% p.m.
B. Interest compounded per quarter at 3% per quarter.
C. Interest compounded per half year at 6% per half year
D. Interest compounded per year at 12% p.a.
Correct Answer : A
10. A sum doubles in 8 years at compound interest. In how many years will the sum become 4 times the original sum if the interest is compounded annually?
A. 16
B. 24
C. 64
D. 32
Correct Answer : A
11. A sum doubles in 8 years at simple interest. In how many years will the sum become 4 times the original sum?
A. 16
B. 24
C. 64
D. 32
Correct Answer : B
12. A certain sum when lent at compound interest, the interest being compounded annually, amounts to 1331 in 3 years and 1464.10 in 4 years. Find the rate of interest per annum
A. 10 %
B. 15 %
C. 5 %
D. 20 %
Correct Answer : A
13. The interest on a certain sum lent at compound interest, the interest being compounded annually, in the 2nd year is 1200. The interest on it in the 3rd year is 1440. Find the rate of interest per annum.
A. 10 %
B. 15 %
C. 20 %
D. 25 %
Correct Answer : C
14. A sum was lent at 20% p.a. compound interest, the interest being compounded annually. 1200 was paid back after 1 year. After another year, 1440 was repaid to clear the loan. Find the sum lent.
A. 8000
B. 6000
C. 2000
D. 4000
Correct Answer : C
15. Find the present value of 3000 due after 5 years at 10% p.a. simple interest.
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