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A Learning Portal from Recruitment India

If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 81 times in:

A.

12 years

B.

18 years

C.

16 years

D.

14 years

Answer with explanation

Answer: Option CExplanation

Let the sum be P

The sum P becomes 3P in 4 years on compound interest

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On a sum of money, the simple interest for 2 years is Rs. 320, while the compound interest is Rs. 340, the rate of interest being the same in both the cases. The rate of interest is

A.

15%

B.

14.25%

C.

12.5%

D.

10.5%

Answer with explanation

Answer: Option CExplanation

Simple interest for 2 years is Rs. 320

=> Simple interest for first year = 320/2 = 160

=> Similarly, simple interest for second year is also 160

Compound Interest for first year = 160

Compound Interest for second year = 340-160 = 180

we can see that compound Interest for second year is more than

simple interest for second year by 180-160 = 20

i.e., Rs.20 is the simple interest on Rs.160 for 1 year

R=100×SIPT=100×20160×1=12.5%R=100×SIPT=100×20160×1=12.5%

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A.

Rs. 10000

B.

Rs. 8000

C.

Rs. 12000

D.

Rs. 14000

Answer with explanation

Answer: Option AExplanation

Let the investment in scheme A be Rs.x

Then the investment in scheme = Rs.(15000-x)

x/10000=1=>x=10000

i.e, Amount invested in Scheme A = Rs. 10000

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Arun invested an amount of Rs. 20000 in a fixed deposit scheme for 2 years at compound interest rate 4 p.c.p.a. How much amount will Arun get on maturity of the fixed deposit?20342

A.

20342

B.

21632

C.

22324

D.

24120

Answer with explanation

Answer: Option BExplanation

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The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum is:

A.

Rs.600

B.

Rs.645

C.

Rs.525

D.

Rs.625

Answer with explanation

Answer: Option DExplanation

Let the sum be Rs.x

Amount after 2 years on Rs.x at 4% per annum when interest is compounded annually

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Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

A.

Rs. 1550

B.

Rs. 1650

C.

Rs. 1750

D.

Rs. 2000

Answer with explanation

Answer: Option CExplanation

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