a2zinterviews

1.	Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.
	A.   Rs.512
	B.  Rs.552
	C.  Rs.612
	D.  Rs.622

Solution

Amount = Rs[7500x(1+4/100)²] =Rs.(7500x26/25x26/25) = Rs.8112. C.I = Rs(8112 - 7500) =Rs.612.

2.	Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.
	A.  Rs.2552
	B.  Rs.2512
	C.  Rs.2572
	D.  Rs.2592

Solution

Principal = Rs.16,000; Time=9 months = 3 quarters; Amount =Rs.[16000x(1+5/100)³] =[16000x21/20x21/20x21/20] = Rs.18522. C.I = Rs.(18522 - 16000) = Rs.2522.

3.	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

Solution

C.I. =Rs[4000x(1+10/100)²-4000] Rs.(4000x11/10x11/10-4000) = Rs.940. Sum =Rs. [420x100 /3x8] = Rs.1750.

4.	Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?
	A.  Rs.8600
	B.  Rs.8620
	C.  Rs.8840
	D.  Rs.8820

Solution

Amount =Rs.[8000x(1+5/100)²] = Rs. [8000 x 21/20x21/20] = Rs.8820.