Q.
Tick the correct answer in each of the following:
At what rate per cent per annum will a sum of Rs 7500 amount to Rs 8427 in 2 years. Compounded annually ?
(a) 4% (b) 5% (c) 6% (d) 8%
Q.
Tick the correct answer in each of the following:
The value of a machine depreciates at the rate of 20% per annum. It was purchased 2 years ago. If its present value is Rs 40000, for how much was it purchased?
(a) Rs 56000 (b) Rs 62500 (c) Rs 65200 (d) 56500
Q.
Tick the correct answer in each of the following:
The compound interest on Rs 6250 at 8% per annum for 1 year, compounded half yearly, is
(a) Rs 500 (b) Rs 510 (c) Rs 550 (d) Rs 512.50
Q.
Tick the correct answer in each of the following:
The compound interest on Rs 4000 at 10% per annum for 2 years 3 months, compounded annually, is
(a) Rs 916 (b) Rs 900 (c) Rs 961 (d) Rs 896
Q.
Tick the correct answer in each of the following:
The value of a machine depreciates at the rate of 10% per annum. It was purchased 3 years ago for Rs 60000. What is the present value of the machine ?
(a) Rs 53640 (b) Rs 51680 (c) Rs 43740 (d) Rs 43470
View More
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
No worries! We‘ve got your back. Try BYJU‘S free classes today!
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Solution
The correct option is B ₹3916.80
Principal (P) = ₹48000
Rate
(R) =8%
p.a.
Time (n)= 1 year
Interest is compounded half yearly
∴A=P(1+R200)2n
=48000(1+8200)2=48000×2625×2625
=76.8×26×26
=₹51916.80
Therefore, compound interest = A-P
= ₹(51916.80 - 48000)
= ₹3916.80
Find compound interest on Rs. 5000 at 12% p.a. for 1 year, compounded half-yearly.
- Rs. 630/-
- Rs. 618/-
- Rs. 620/-
- Rs. 625/-
Answer (Detailed Solution Below)
Option 2 : Rs. 618/-
Free
10 Questions 10 Marks 7 Mins
Given:
The sum = 5000
The rate of interest = 12% per annum
The time = 1 year
Formula used:
\({CI}\ =\ {P\ × [(1\ +\ {R\over 100})^T\ -\ 1]}\) Where CI = The compound interest, P = The principle, R = The rate, and T = The time
Calculation:
Let us assume the compound interest be X
⇒ For half-yearly rate will half = 12/2 = 6% per half-yearly
⇒ For half yearly time will double = 2 years
⇒ The compound interest = \({CI}\ =\ {5000\ × [(1\ +\ {6\over 100})^2\ -\ 1]}\)
⇒ \({CI}\ =\ {5000\ × [(1.06)^2\ -\ 1]}\)
⇒ \({CI}\ =\ {5000\ × [1.1236\ -\ 1]}\)
⇒ The compound interest = 5000 × 0.1236 = 618
∴ The required result will be 618.
Alternate MethodEquivalent rate for 2 years = 6 + 6 + (6 × 6)/100
⇒ 12.36%
CI = 12.36% of 5000
⇒ (5000 × 12.36)/100
⇒ 618
∴ The required result will be 618.
Last updated on Sep 21, 2022
The RRB (Railway Recruitment Board) has released the Result, and Cut Off marks for the CBAT (Computer Based Aptitude Test) stage for Pay Level 6. The result and cut-off marks are announced for the RRB Chandigarh, Bhopal & Chennai regions for the recruitment cycle 2021. The exam is conducted to fill up a total number of 35281 vacant posts. Candidates who are qualified for the Computer Based Aptitude Test will be eligible for the next round, which will be Document Verification & Medical Exam. The candidates with successful selection under RRB NTPC will get a salary range between Rs. 19,900 to Rs. 35,400. Know the RRB NTPC Result here.
Ace your Interest preparations for Compound Interest with us and master Quantitative Aptitude for your exams. Learn today!