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Compound Interest Questions
141. Find the simple interest on Rs. 1920 at 45 % per annum for 3 months
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Correct Ans:Rs. 216
Explanation:
Solution is:
Given
Principal : 1920
Rate of interest : 45
Number of months : 3
Simple interest for 1 year = pnr / 100
= ( 1920 x 1 x 45 ) / 100
= 864
Simple interest for 3 months = ( 3 / 12 ) x SI for 1 year
= ( 3 / 12 ) x 864
= 216
Given
Principal : 1920
Rate of interest : 45
Number of months : 3
Simple interest for 1 year = pnr / 100
= ( 1920 x 1 x 45 ) / 100
= 864
Simple interest for 3 months = ( 3 / 12 ) x SI for 1 year
= ( 3 / 12 ) x 864
= 216
Workspace
142. A person receives a sum of Rs. 420 as interest for investing some amount at 10% p.a compounding annually for 2 years. Find the amount invested at the beginning
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Correct Ans:2000
Explanation:
Solution is
Given compound interest ( C.I ) = Rs.420
Rate of interest ( r ) = 10 %
Number of years ( n ) = 2
To find , amount invested at the beginning i.e principal (P)
Amount = P [ 1 + ( r / 100 ) ]n
Amount = C.I + P
=> Amount = C.I + P
=> P [ 1 + ( r / 100 ) ]n= C.I + P
=> P [ 1 + ( 10 / 100 ) ]2= 420 + P
=> P [ 110 / 100 ]2= 420 + P
=> P [ 11 / 10 ]2= 420 + P
=> P x 121 / 100 = 420 + P
=> ( 121 P / 100 ) - P = 420
=> ( 121 P - 100 P ) / 100 = 420
=> 21 P / 100 = 420
=> P = ( 420 * 100 ) / 21
= 2000
Amount invested at the beginning, P = 2000 Rs
Given compound interest ( C.I ) = Rs.420
Rate of interest ( r ) = 10 %
Number of years ( n ) = 2
To find , amount invested at the beginning i.e principal (P)
Amount = P [ 1 + ( r / 100 ) ]n
Amount = C.I + P
=> Amount = C.I + P
=> P [ 1 + ( r / 100 ) ]n= C.I + P
=> P [ 1 + ( 10 / 100 ) ]2= 420 + P
=> P [ 110 / 100 ]2= 420 + P
=> P [ 11 / 10 ]2= 420 + P
=> P x 121 / 100 = 420 + P
=> ( 121 P / 100 ) - P = 420
=> ( 121 P - 100 P ) / 100 = 420
=> 21 P / 100 = 420
=> P = ( 420 * 100 ) / 21
= 2000
Amount invested at the beginning, P = 2000 Rs
Workspace
143. Find the simple interest on Rs. 1300 at 10 % per annum for 5 years
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Correct Ans:Rs. 650
Explanation:
Solution is
Given
Principal : 1300
Rate of interest : 10
Number of years : 5
Simple Interest = pnr / 100
Simple Interest = (1300 x 5 x 10) / 100
= 13 x 5 x 10
= 650
So,Simple Interest = 650
Given
Principal : 1300
Rate of interest : 10
Number of years : 5
Simple Interest = pnr / 100
Simple Interest = (1300 x 5 x 10) / 100
= 13 x 5 x 10
= 650
So,Simple Interest = 650
Workspace
144. A person receives a sum of Rs. 210 as interest for investing some amount at 10% p.a compounding annually for 2 years. Find the amount invested at the beginning
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Correct Ans:1000
Explanation:
Solution is
Given
Compound interest received by the person ( C.I ) = Rs. 210
Rate of interest ( r ) = 10 %
Number of years ( n ) = 2 years
To find, Amount invested at the beginning = principal ( p )
Compound interest ( C.I ) = Amount - Principal
Amount = p ( 1 + r / 100 )n
=> C.I = p [ ( 1 + r / 100 )n- 1 ]
=> 210 = p [ ( 1 + 10 / 100 )2- 1 ]
=> 210 = p [ ( 110 / 100 )2- 1 ]
=> 210 = p [ ( 11 / 10 )2- 1 ]
=> 210 = p [ ( 121 / 100 ) - 1 ]
=> 210 = p [ ( 121 - 100 ) / 100 ]
=> 210 = p [ 21 / 100 ]
=> 210 x ( 100 / 21 ) = p
=> 1000 = p
The amount invested at the beginning = p = 1000 Rs
Given
Compound interest received by the person ( C.I ) = Rs. 210
Rate of interest ( r ) = 10 %
Number of years ( n ) = 2 years
To find, Amount invested at the beginning = principal ( p )
Compound interest ( C.I ) = Amount - Principal
Amount = p ( 1 + r / 100 )n
=> C.I = p [ ( 1 + r / 100 )n- 1 ]
=> 210 = p [ ( 1 + 10 / 100 )2- 1 ]
=> 210 = p [ ( 110 / 100 )2- 1 ]
=> 210 = p [ ( 11 / 10 )2- 1 ]
=> 210 = p [ ( 121 / 100 ) - 1 ]
=> 210 = p [ ( 121 - 100 ) / 100 ]
=> 210 = p [ 21 / 100 ]
=> 210 x ( 100 / 21 ) = p
=> 1000 = p
The amount invested at the beginning = p = 1000 Rs
Workspace
145. Find the simple interest on Rs. 2400 at 10 % per annum for 7 months
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Correct Ans:Rs. 140
Explanation:
Solution is
Given
Principal : 2400
Rate of interest : 10
Number of months : 7
Simple interest = pnr / 100
Simple Interest for 1 year = ( 2400 x 1 x 10 ) / 100
= 240
Simple interest for 7 months = ( 7 / 12 ) x SI Simple Interest for 1 year
= ( 7 / 12 ) x 240
= 140
Answer is 140
Given
Principal : 2400
Rate of interest : 10
Number of months : 7
Simple interest = pnr / 100
Simple Interest for 1 year = ( 2400 x 1 x 10 ) / 100
= 240
Simple interest for 7 months = ( 7 / 12 ) x SI Simple Interest for 1 year
= ( 7 / 12 ) x 240
= 140
Answer is 140
Workspace
146. Find the simple interest on Rs. 2000 at 7 % per annum for 4 years
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Correct Ans:560 Rs.
Explanation:
Solution is
Given
Principal : 2000
Rate of interest : 7
Number of years : 4
Simple Interest = pnr / 100
Simple Interest = (2000 x 4 x 7) / 100
Simple Interest = 560
Answer is 560
Given
Principal : 2000
Rate of interest : 7
Number of years : 4
Simple Interest = pnr / 100
Simple Interest = (2000 x 4 x 7) / 100
Simple Interest = 560
Answer is 560
Workspace
147. What would be the compound interest accrued on an amount of 12500 Rs. at the end of 3 years at the rate of 10 % per annum ?
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Correct Ans:4137.5
Explanation:
Solution is
Given
principal = 12500
No. of years = 3
Rate of interest = 10
Amount = P x ( 1 +( r / 100 ) )n
=12500 x ( 1 + (10 /100 ) )3
= 12500 x ( 110 / 100 )3
= 12500 x ( 11 / 10 )3
= 12500 x ( 1331 / 1000 )
= 125 x ( 1331 / 10 )
Amount = 16637.5
Compound interest = Amount - Principal
= 16637.5 - 12500
= 4137.5
Ans :4137.5
Given
principal = 12500
No. of years = 3
Rate of interest = 10
Amount = P x ( 1 +( r / 100 ) )n
=12500 x ( 1 + (10 /100 ) )3
= 12500 x ( 110 / 100 )3
= 12500 x ( 11 / 10 )3
= 12500 x ( 1331 / 1000 )
= 125 x ( 1331 / 10 )
Amount = 16637.5
Compound interest = Amount - Principal
= 16637.5 - 12500
= 4137.5
Ans :4137.5
Workspace
148. What would be the compound interest accrued on an amount of 5000 Rs. at the end of 2 years at the rate of 16 % per annum ?
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Correct Ans:1728
Explanation:
Given
principal = 5000
No. of years = 2
Rate of interest = 16
Amount = P x (1+r/100)n
we get Amount = 5000 x (1+16/100)2
= 5000 x (116 / 100)2
= 5000 x (116 / 100 ) x (116 / 100)
= 58 x 116
Amount = 6728
Compound interest = Amount - Principal
= 6728 - 5000
= 1728
Ans : 1728
principal = 5000
No. of years = 2
Rate of interest = 16
Amount = P x (1+r/100)n
we get Amount = 5000 x (1+16/100)2
= 5000 x (116 / 100)2
= 5000 x (116 / 100 ) x (116 / 100)
= 58 x 116
Amount = 6728
Compound interest = Amount - Principal
= 6728 - 5000
= 1728
Ans : 1728
Workspace
149. What would be the compound interest accrued on an amount of 14000 Rs. at the end of 3 years at the rate of 5 % per annum ?
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Correct Ans:2206.75
Explanation:
Given
principal = 14000
No. of years = 3
Rate of interest = 5
Amount = P x (1+r/100)n
we get Amount = 14000 x (1+5/100)3
= 14000 x (105 / 100)3
= 14000 x (21 / 20)3
= 14000 x (9261 / 8000)
= 64827 / 4
= 16206.75
compound interest = Amount - principal
= 16206.75 - 14000
= 2206.75
Ans : 2206.75
principal = 14000
No. of years = 3
Rate of interest = 5
Amount = P x (1+r/100)n
we get Amount = 14000 x (1+5/100)3
= 14000 x (105 / 100)3
= 14000 x (21 / 20)3
= 14000 x (9261 / 8000)
= 64827 / 4
= 16206.75
compound interest = Amount - principal
= 16206.75 - 14000
= 2206.75
Ans : 2206.75
Workspace
150. John invested an amount of Rs. 20000 for 2 years at compound interest at the rate of 6 % per annum. Find the amount he receives at the end of 2 years.
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Correct Ans:22472
Explanation:
Principal : P = 20000 Rs.
Rate of Interest : r = 6 %
Number of years : n = 2
Amount = P x (1 + r/100)^n = 20000 x (1+6/100)^2
=20000 x (1+3/50)^2 =20000 x (53/50) x (53/50)=22472
Workspace
151. Rs. 10000 is borrowed at compound interest at the rate of 4 % annum. What will be the amount to be paid after 2 years ?
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Correct Ans:10816
Explanation:
Principal : P = 10000 Rs. Rate of Interest : r = 4 %
Number of years : n = 2
Amount = P x (1 + r/100)n = 10000 x (1+4/100)2 =10000 x (1+1/25)2
=10000 x (26/25) x (26/25) =10816
Number of years : n = 2
Amount = P x (1 + r/100)n = 10000 x (1+4/100)2 =10000 x (1+1/25)2
=10000 x (26/25) x (26/25) =10816
Workspace
152. What would be the compound interest accrued on an amount of 2500 Rs. at the end of 2 years at the rate of 10 % per annum ?
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Correct Ans:3025
Explanation:
Given principal = 2500
No. of years = 2
Rate of interest = 10
Amount = P x (1+r/100)^n,
we get Amount = 2500 x (1+10/100)^2
Ans : 3025
Workspace
153. What would be the compound interest accrued on an amount of 4500 Rs. at the end of 2 years at the rate of 10 % per annum ?
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Correct Ans:5445
Explanation:
Given principal = 4500
No. of years = 2
Rate of interest = 10
Amount = P x (1+r/100)^n,
we get Amount = 4500 x (1+10/100)^2
Ans : 5445
No. of years = 2
Rate of interest = 10
Amount = P x (1+r/100)^n,
we get Amount = 4500 x (1+10/100)^2
Ans : 5445
Workspace
154. What would be the compound interest accrued on an amount of 11500 Rs. at the end of 2 years at the rate of 10 % per annum ?
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Correct Ans:13915
Explanation:
Given principal = 11500 No. of years = 2
Rate of interest = 10 Amount = P x (1+r/100)^n,
we get Amount = 11500 x (1+10/100)^2
Ans : 13915
Workspace
155. What would be the compound interest accrued on an amount of 5000 Rs. at the end of 2 years at the rate of 16 % per annum ?
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Correct Ans:6728
Explanation:
Given principal = 5000. No. of years = 2
Rate of interest = 16 Amount = P x (1+r/100)^n, we get Amount = 5000 x (1+16/100)^2
Ans : 6728
Workspace
156. What would be the compound interest accrued on an amount of 8000 Rs. at the end of 2 years at the rate of 5 % per annum ?
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Correct Ans:8820
Explanation:
Given principal = 8000. No. of years = 2
Rate of interest = 5. Amount = P x (1+r/100)^n,
we get Amount = 8000 x (1+5/100)^2 . Ans : 8820
Workspace
157. What would be the compound interest accrued on an amount of 6250 Rs. at the end of 2 years at the rate of 8 % per annum ?
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Correct Ans:7290
Explanation:
Given principal = 6250 No. of years = 2 Rate of interest = 8
Amount = P x (1+r/100)n, we get Amount = 6250 x (1+8/100)2 Ans : 7290
Workspace
158. What would be the compound interest accrued on an amount of 2500 Rs. at the end of 3 years at the rate of 10 % per annum ?
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Correct Ans:3327.5
Explanation:
Given principal = 2500 No. of years = 3 Rate of interest = 10
Amount = P x (1+r/100)n, we get Amount = 2500 x (1+10/100)3 Ans : 3327.5
Workspace
159. What would be the compound interest accrued on an amount of 6500 Rs. at the end of 2 years at the rate of 15 % per annum ?
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Correct Ans:8596.25
Explanation:
Given principal = 6500 No. of years = 2 Rate of interest = 15
Amount = P x (1+r/100)n, we get Amount = 6500 x (1+15/100)2 Ans : 8596.25
Workspace
160. What would be the compound interest accrued on an amount of 2500 Rs. at the end of 2 years at the rate of 10 % per annum ?
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Correct Ans:3025
Explanation:
Given principal = 2500
No. of years = 2
Rate of interest = 10
Amount = P x (1+r/100)^n,
we get Amount = 2500 x (1+10/100)^2
Ans : 3025
No. of years = 2
Rate of interest = 10
Amount = P x (1+r/100)^n,
we get Amount = 2500 x (1+10/100)^2
Ans : 3025
Workspace
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