compound interest test 6

1. The compound interest on a certain sum at a certain rate of interest for the second year and third year is ` 21780 and ` 23958 respectively. What is the rate of interest ?

2. Bhuvnesh borrowed ` 800 at 10% rate of interest. He repaid ` 400 at the end of first year. What is the amount required to pay at the end of second year to discharge his loan which was calculated at compound interest ?

3.A mobile phone is available for ` 600 or for 300 cash down payment together with ` 360 to be paid after two months. Find the rate of interest charged under this scheme:

4. Rajesh purchases atrack suit for ` 2400 cash or for ` 1000 cash down payments and together with ` 1600 to be paid after one month. Find the rate of interest:

5.A sum of RS 390200 is to be paid back in three equal annual installments. How much is each installments, if the rate of interest charged is 4% per annum compounded annually?

6. Bhuvnesh borrowed a sum of money and return it in three equal quarterly installments of Rs.17576 each. Find the sum borrowed, if the rate of interest charged was 16% per annum compounded quarterly .Find also the total interest charged.

7.Rajesh borrowed `10815, which is to be paid back in 3 equal half yearly installments. If the interest is compounded half yearly at 40/3 % per annum, how much is each installment?

8. Bhuvnesh borrowed some money on compound interest and returned it in three years in equal annual installments. If the rate of interest is 15% per annum and annual installments is ` 486680, find the sum borrowed :

9. The difference between simple and compound interest for the fourth year is ` 7280 at 20% p.a. What is the principal sum?

10. The ratio of CI for 3 years and SI for 1 year for a fixed amount at a rate of r % is 3.64. What is the value of r ?

11. The compound interest on a certain sum for 2 years is ` 756 and SI (simple interest) is ` 720. If the same sum is invested such that the SI is ` 900 and the number of years is equal to the rate per cent per annum, find the new rate per cent :

12. Equal amount of ` 43892 is lent to two persons each for 3 years. One at 30% SI and second at 30% CI annually. By how much per cent the CI is greater than the simple interest received in this 3 years duration ?

13. If the compound interest on a certain sum for 2 years is RS 21. What could be the simple interest?

14. If the difference between compound and simple interest on a certain sum of money for 3 years at 2% p.a. is ` 604, what is the sum ?

15. If the simple interest is 10.5% annual and compound interest is 10% annual, find the difference between the interests after 3 years on a sum of ` 1000.

16. A sum of ` 1000 after 3 year at compound interest becomes a certain amount that is equal to the amount that is the result of a 3 year depreciation from `1728. Find the difference between the rates of CI and depreciation. (Given the rate of CI is 10% p.a.). (Approximately)

17. If a principal P becomes Q in 2 years when interest R% is compounded half-yearly. And if the same principal P becomes Q in 2 years when interest S% is compounded annually, then which of the following is true ?

18. Find the compound interest at the rate of 10% for 3 years on that principal which in 3 years at the rate of 10% per annum gives ` 300 as simple interest.

19.A sum of ` 8000 is borrowed at 5% p.a. compound interest and paid back in 3 equal annual installments. What is the amount of each installment ?

20. What will be the compound interest on ` 9000 at 10% per annum for 2 year 4 months, compounded annually.