1.  Find the CI on Rs.4500 at 4% pa for 2 yrs compounded half yearly(approx) ?


963
369
370
675


Answer

 Option

CI = P [(1+(r/100)n – 1] = 4500[(1+2/100)4 – 1 = 4500[ (102*102*102*102/100*100*100*100) – 1] = 4500[1.082 – 1] = 4500*0.082 = 369

Workspace

Report
Mail id: Report Error:

Answer Workspace Report

2.  Aswin invested an amount of Rs.9000 in a fixed deposit scheme for 2 years at CI rate 6% pa. How much amount will Aswin get on maturity of the fixed amount ?


9500
9800
10112
7000


Answer

 Option

Amount = 9000*106/100*106/100 = 9000*53/50*53/50 = 10,112

Workspace

Report
Mail id: Report Error:

Answer Workspace Report

3.  The difference between the total simple interest and the total compound interest compounded annually at the same rate of interest on a sum of money at the end of two years is Rs. 350. What is definitely the rate of interest per cent per annum?


9400
7000
6300
Data inadequate


Answer

 Option

Difference = Pr2/(100)2 = (350×100×100)/(P×r2) P is not given

Workspace

Report
Mail id: Report Error:

Answer Workspace Report

4.  Rohit borrowed Rs. 1200 at 12% PA .He repaid Rs. 500 at the end of 1 year. What is the amount required to pay at the end of 2nd year to discharge his loan which was calculated in CI


900
945
945.28
950


Answer

 Option

CI at the end of 1st year = 1200 *( 1+(12 /100)) = 1344 CI= 1344-1200 = 144 500 paid then remaining amount = 1344 – 500 = 844 At the end of 2nd year 844*[(1+(12/100)] =945.28

Workspace

Report
Mail id: Report Error:

Answer Workspace Report

5.  What is the difference between the CI and SI on Rs.6500 at the rate of 4 pc pa in 2 yrs ?


9.4
10.4
15.4
14.5


Answer

 Option

SI = 6500*4*2/100 = 520 CI = 6500*(104/100)*(104/100) = 7030.4 = 530.4 530.4 – 520 = 10.4

Workspace

Report
Mail id: Report Error:

Answer Workspace Report