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The population of a town is 196000. It increases by 7% in the 1st year and decreases by 5% in the 2nd year. What is the population of the town at the end of 2 years? What is the population of the town at the end of 2 years?

A.

200234

B.

201234

C.

189234

D.

199234

Answer with explanation

Answer: Option DExplanation

Initial population is 196000

Increases by 7% => New population = (107/100) x 196000

Population after 1 year = 209720

Population decreases by 5%,

New population = (95/100) x 209720 = 199234

Population after 2 years will be 199234

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A sum of Rs.4800 is invested at compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.

A.

Rs.2520

B.

Rs.3120

C.

Rs.3320

D.

Rs.2760

Answer with explanation

Answer: Option BExplanation

Let A be the amount received at the end of the three years.

A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]

A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)

A = Rs.7920

So the interest = 7920 – 4800 = Rs.3120

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Rs. 5887 is divided between Shyam and Ram, such that Shyam’s share at the end of 9 years is equal to Ram’s share at the end of 11 years, compounded annually at the rate of 5%. Find the share of Shyam.

A.

3567

B.

3452

C.

3087

D.

3544

Answer with explanation

Answer: Option CExplanation

Shyam’s share * (1+0.05)9 = Ram’s share * (1 + 0.05)11

Shyam’s share / Ram’s share = (1 + 0.05)11 / (1+ 0.05)9 = (1+ 0.05)2 = 441/400

Therefore Shyam’s share = (441/841) * 5887 = 3087

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A sum of rupees 3200 is compounded annually at the rate of 10 paisa per rupee per annum. Find the compound interest payable after 2 years.

A.

200

B.

842

C.

672

D.

832

Answer with explanation

Answer: Option CExplanation

Rate of interest is 10 paisa per rupee per annum. So for 100 rupees it is 1000 paise i.e. 10 percent

Now, CI = 3200(1+10/100)^ 2 – 3200 = 672

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A certain sum is interested at compound. The interest accrued in the first two years is Rs. 544 and that in the first three years is Rs. 868. Find the rate per cent.

A.

12.5%

B.

7 (1/2)%

C.

17( 1/2)%

D.

25%

Answer with explanation

Answer: Option AExplanation

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**A money-lender borrows money at 4% per annum and lends it at 6% per annum compound interest compounded half yearly and thus gains Rs. 209 in a year. The amount of money he borrows, is?**

A.

Rs. 12,000

B.

Rs. 10,000

C.

Rs. 11,500

D.

Rs. 9,500

Answer with explanation

Answer: Option BExplanation

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A sum at R% compound interest doubles in 3 years. In 9 years it will be k times of the original principal. What is the value of k?

A.

9

B.

8

C.

6

D.

7

Answer with explanation

Answer: Option BExplanation

A = P[1+ r/100]^n

A == 2P in 3 years

2P = P[1 + r/100]^3 [dividing by ‘p’ both LHS and RHS]

2 = [1 + r/100]^3 …….(i)

kP = P[1 + r/100]^9

k = [1 + r/100]^9 ……(ii)

On cubing the eq. (i)

2^3 = { [1 + r/100]^3}^3

8 = [1 + r/100]^9 …..(iii)

COMPARING eq.(ii) & eq.(iii)

k = 8

Hence, 8 times

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**A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1 ^{st} January and 1^{st} July of a year. At the end of the year, the amount he would have gained by way of interest is?**

A.

Rs. 120

B.

Rs. 121

C.

Rs. 123

D.

Rs. 125

Answer with explanation

Answer: Option BExplanation

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