InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
1). Rs. 531812). Rs. 557903). Rs. 547844). Rs. 51786 |
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Answer» Let the money lent be Rs. X Now, Compound Interest = P (1 + R/100)n - P And, SI = (P × r × n)/100 Where, P = Principal Amount r = Rate of interest (PER annum) n = NUMBER of years Hence, X × [1 + 7/100]3 - X - (X × 7 × 3)/100 = 800 X × (1.07)3 - 1.21X = 800 X = 53181 |
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| 52. |
1). 8002). 8503). 9004). 950 |
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Answer» <P>Let the sum be P and rate be r. ⇒ P (1 + r/100)3 = 2000------ (1) ⇒ P (1 + r/100)6 = 5000------ (2) Dividing eq(2) by eq(1), we GET, ⇒ (1 + r/100)3 = 5/2----- (3) Putting EQUATION (3) in equation (1) ⇒ P × 5/2 = 2000 ∴ P = 2000 × 2/5 = Rs. 800 |
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| 53. |
1). Rs. 8002). Rs. 8503). Rs. 9004). Rs. 950 |
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Answer» LET the principle amount be P. ⇒ P × 12.5 × 2/100 = 800 ⇒ P = 3200 CI for 2 years = 3200(1 + 12.5/100)2 - 3200 ⇒ 3200(1 + 1/8)2 - 3200 ⇒ 3200(9/8)2 - 3200 CI = 4050 - 3200 ∴ CI = Rs. 850 |
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| 54. |
Sharad invested equal amounts in 2 schemes A and B at the same rate of interest. Scheme A offers S.I while scheme B offers compound interest. After 2 years he got Rs.2000 from scheme A as interest and Rs.2250 from scheme B. If the rate of interest is increased by 4%. What will be the total interest after two years from both schemes?1). Rs. 2320.42). Rs. 50003). Rs. 4976.44). Rs. 4000 |
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Answer» Difference between S.I. and C.I. for 2 years = 2250 - 2000 = 250 S.I. for 1 year = 2000/2 = 1000 ∴ r = (250/1000) × 100 = 25% per annum Now, S.I.(25%) = 1000 P(100%) = 1000/25× 100 = 4000 When RATE is increased by 4% then new S.I = 4000 × 29 × 2/100 = 2320 Rate of C.I. for 2 years = 29 + 29 + (29 × 29)/100 = 58 + 8.41 = 66.41% ∴ C.I. = 4000 × $(\FRAC{{66.41}}{{100}})$ = 2656.4 So TOTAL interest = 2320 + 2656.4 = Rs. 4976.4 |
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| 55. |
A man invests Rs. 6000 for 3 years at 8% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year.1). Rs. 7125.422). Rs. 7546.83). Rs. 6792.64). Rs. 7227.3 |
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Answer» Now the formula for compound interest can be given as CI = P(1 + R/100)t - P Where CI = Compound Interest P = Principal R = Rate of interest T = Time period In our CASE the interest EARNED at the end of first YEAR can be given as CI = 6000(1.08)1-6000 CI = Rs. 480 Income tax @20% is DEDUCTED on the interest earned ∴ 480 × 0.2 = 96 ∴ Amount at the end of first year = 6000 + 480-96 = 6384 Now the amount at the end of first year is TAKEN as principal at the beginning of second year ∴ Interest earned at the end of second year CI = 6384(1.08) - 6384 = Rs. 510.72 Income tax deducted = 510.72 × 0.2 = 102.144 ∴ Amount at the end of second year = 6384 + 510.72 - 102.144 = 6792.576 Interest earned at the end of third year CI = 6792.576(1.08) - 6792.576 = 543.40 Income tax deducted = 543.40 × 0.2 = 108.68 ∴ Amount at the end of third year = 6792.576 + 543.4 - 108.68 = 7227.296 |
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| 56. |
Rs. 3000 amount to Rs. \(5333\frac{1}{3}\) in 10 years at compound interest, what will Rs. 3000 amount to in half that time?1). Rs. 40002). Rs. 39003). Rs. 3166.664). Rs. 3066.66 |
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Answer» Principal = 3000 Amount $(= \;5333\frac{1}{3}\; = \;\frac{{16000}}{3})$ Time = 10 years Let the rate be R% Using the formula for CI $(compound\;interest = principal{\left[ {1 + \frac{{rate}}{{100}}} \right]^{time}} - Principal)$ $(5333\frac{1}{3} = 3000{\left( {1 + \frac{R}{{100}}} \right)^{10}})$ $(\RIGHTARROW \frac{{16000}}{{3 \times 3000}} = {\left( {1 + \frac{R}{{100}}} \right)^{10}})$ $(\Rightarrow \frac{{16}}{9} = {\left( {1 + \frac{R}{{100}}} \right)^{10}})$ Taking square ROOT of the above equation $(\frac{4}{3} = {\left( {1 + \frac{R}{{100}}} \right)^5})$…………………………………….(equation 1) Now for half the time i.e for T = 5 years Let the amount be A Again using the formula for CI $(A = 3000{\left( {1 + \frac{R}{{100}}} \right)^5})$ From equation (1) $(\Rightarrow A = 3000\left( {\frac{4}{3}} \right))$ ⇒ A = 4000 |
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| 57. |
In the beginning of the year 2001, Mr. X invest some amount in a bank, In the beginning of 2004, the accumulated interest is Rs. 10000 and in the beginning of 2007, the accumulated interest becomes Rs. 25000. The interest rate is compounded annually and annual interest rate is fixed. The principle amount is:1). 160002). 250003). 240004). 20000 |
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Answer» Let the principle amount be P and RATE of interest be r. From the beginning of 2001 and beginning of 2004, there will be accumulated interest of 3 yrs. So, we can write, ⇒ P (1 + r/100)3 = P + 10000 ---- (1) Similarly, from the beginning of 2001 and beginning of 2007, there will be accumulated interest of 6 years. We can write, ⇒ P (1 + r/100)6 = P + 25000 ----- (2) Let, (1 + r/100)3 = A We can write, EQUATION (1) as, ⇒ P ? A = P + 10000 ⇒ P (A – 1) = 10000 ---- (3) Similarly, we can write equation (2) as, ⇒ P × A2 = P + 25000 ⇒ P (A2 – 1) = 25000 ⇒ P (A – 1) (A + 1) = 25000 ----- (4) Dividing equation (4) by equation (3), we get, ⇒ A + 1 = 5/2 ⇒ A + 1 = 2.5 ⇒ A = 1.5 Putting A = 1.5 in eq (3), we get, ⇒ P × (1.5 - 1) = 10000 ∴ P = 20000 |
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