Simple and Compound 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

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

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

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

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%

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

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

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

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

  1. ₹ 900
  2. ₹ 800
  3. ₹ 750
  4. ₹ 700

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%

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