Simple and Compound Interest

A person bought a refrigerator worth Rs. 22,800 with 12.5% interest

A person bought a refrigerator worth Rs. 22,800 with 12.5% interest compounded yearly. At the end of first year he paid Rs. 8,650 and at the end of second year Rs. 9,125. How much will he have to pay at the end of third year to clear the debt?

  1. Rs. 9,990
  2. Rs. 10,000 
  3. Rs. 10,590
  4. Rs. 11,250
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The difference between the simple and the compound interest

The difference between the simple and the compound interest on a certain sum of money at 4% per annum in 2 years is Rs. 10. What is the sum?

  1. Rs. 5,500
  2. Rs. 6,000
  3. Rs. 6,250
  4. Rs. 7,500
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An automobile financer claims to be lending money at simple interest

An automobile financer claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging the interest at the rate of 10%, the effective rate of interest becomes:

  1. 11%
  2. 10.75%
  3. 10.5%
  4. 10.25%
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What is the compound interest on ₹1600 at 25% per annum

What is the compound interest on ₹1600 at 25% per annum of 2 year compounded annually

  1. ₹ 900
  2. ₹ 800
  3. ₹ 750
  4. ₹ 700
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A certain sum at simple interest amounts to Rs.1350 in 5 years

A certain sum at simple interest amounts to Rs.1350 in 5 years and to Rs.1620 in 8 years. What is the sum?

  1. Rs.900
  2. Rs.800
  3. Rs.700
  4. Rs.1000
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The principal on which a simple interest of Rs. 55 will be obtained

The principal on which a simple interest of Rs. 55 will be obtained after 9 months at the rate of 3⅔% per annum is

  1. Rs. 1000
  2. Rs. 1500
  3. Rs. 2000
  4. Rs. 2500
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A sum of money becomes 3 times in 5 years at simple interest

A sum of money becomes 3 times in 5 years at simple interest. In how many years will the same sum become 6 times at the same rate of simple interest?

  1. 10.5 years
  2. 12 years
  3. 12.5 years
  4. 10 years
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A sum of money on compound interest amounts to Rs. 9680

A sum of money on compound interest amounts to Rs. 9680 in 2 yr and Rs. 10648 in 3 yr. What is the rate of interest per annum?

  1. 5%
  2. 10%
  3. 15%
  4. 20%
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There is 60% increase in an amount in 6 years at simple interest

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest on Rs. 12,000 after 3 years at the same rate of interest?

  1. Rs. 6,240
  2. Rs. 2,160
  3. Rs. 3,972
  4. Rs. 3,120
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What is the least number of complete years in which a sum of money

What is the least number of complete years in which a sum of money at 20% compound interest will be more than doubled?

  1. 4
  2. 5
  3. 6
  4. 7
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The difference between compound interest and the simple interest

The difference between compound interest and the simple interest at the same rate of interest R percent per annum on an amount of Rs. 15,000 for two years is Rs. 96. What is the value of R?

  1. 8
  2. 10
  3. 12
  4. Cannot be determined due to insufficient data
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John borrowed Rs. 2,10,000 from a bank at an interest rate of 10% per annum

John borrowed Rs. 2,10,000 from a bank at an interest rate of 10% per annum, compounded annually. The loan was repaid in two equal instalments, the first after one year and the second after another year. The first instalment was interest of one year plus part of the principal amount, while the second was the rest of the principal amount plus due interest thereon. Then each instalment, in Rs., is

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A man earns x% on the first Rs. 2,000 and y% on the rest of his income

A man earns x% on the first Rs. 2,000 and y% on the rest of his income. If he earns Rs. 700 from income of Rs. 4,000 and Rs. 900 from if his income is Rs. 5,000, find x%.

  1. 10%
  2. 15%
  3. 20%
  4. 25%
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How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

  1. 4 years
  2. 4.5 years
  3. 5 years
  4. 5.5 years
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A certain sum of money invested at some rate of simple interest triple

A certain sum of money invested at some rate of simple interest triple itself in 4 years. In how many years the principal will become 9 times of itself at the same rate?

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A man invests Rs. 3,000 at the rate of 5% per annum. How much more should he invest

A man invests Rs. 3,000 at the rate of 5% per annum. How much more should he invest at the rate of 8%, so that he can earn a total of 6% per annum?

  1. Rs. 1,200
  2. Rs. 1,500
  3. Rs. 1,700
  4. Rs. 2,000
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