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Maths Compound Interest Test.3

**Quiz Instructions:**

- There will be 20 multiple choice question in this online test.
- Answer of the questions will change randomly each time you start this test.
- Practice this test at least 3 times if you want to secure High Marks.
- At the End of the Test you can see your Test score and Rating.

1 / 20

**Hafeez invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Hafeez at the end of the year will be?**

Explanation:

P = Rs. 15000; R = 10% p.a. = 5% per half-year; T = 1 year = 2 half-year

Amount = [15000 * (1 + 5/100)^{2}]

= (15000 * 21/20 * 21/20) = Rs. 16537.50

Explanation:

P = Rs. 15000; R = 10% p.a. = 5% per half-year; T = 1 year = 2 half-year

Amount = [15000 * (1 + 5/100)^{2}]

= (15000 * 21/20 * 21/20) = Rs. 16537.50

2 / 20

**A man saves Rs. 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years?**

Explanation:

Amount = [200(1 + 5/100)^{3} + 200(1 + 5/100)^{2} + 200(1 + 5/100)]

= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)] = Rs. 662.02

Explanation:

Amount = [200(1 + 5/100)^{3} + 200(1 + 5/100)^{2} + 200(1 + 5/100)]

= [200 * 21/20(21/20 * 21/20 + 21/20 + 1)] = Rs. 662.02

3 / 20

**What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12% p.a.?**

Explanation:

Amount = [25000 * (1 + 12/100)^{3}]

= 25000 * 28/25 * 28/25 * 28/25 = Rs. 35123.20

C.I. = (35123.20 – 25000) = Rs. 10123.20

Explanation:

Amount = [25000 * (1 + 12/100)^{3}]

= 25000 * 28/25 * 28/25 * 28/25 = Rs. 35123.20

C.I. = (35123.20 – 25000) = Rs. 10123.20

4 / 20

**Shohaib invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Shohaib get on maturity of the fixed deposit?**

Explanation:

Amount = [8000 * (1 + 5/100)^{2}]

= 8000 * 21/20 * 21/20

= Rs. 8820

Explanation:

Amount = [8000 * (1 + 5/100)^{2}]

= 8000 * 21/20 * 21/20

= Rs. 8820

5 / 20

**Afnan wants to borrow Rs.6000 at rate of interest 6% p.a. at S.I and lend the same amount at C.I at same rate of interest for two years. What would be his income in the above transaction?**

6 / 20

**Rayan invested certain amount for two rates of simple interests at 6% p.a. and 7% p.a. What is the ratio of Rayan’s investments if the interests from those investments are equal?**

Explanation:

Let x be the investment of Rayan in 6% and y be in 7%

x(6)(n)/100 = y(7)(n)/100

=> x/y = 7/6

x : y = 7 : 6

Explanation:

Let x be the investment of Rayan in 6% and y be in 7%

x(6)(n)/100 = y(7)(n)/100

=> x/y = 7/6

x : y = 7 : 6

7 / 20

**The simple interest on Rs.12000 at a certain rate of interest in five years is Rs.7200. Find the compound interest on the same amount for five years at the same rate of interest.**

8 / 20

**What is the difference between the compound interest on Rs.12000 at 20% p.a. for one year when compounded yearly and half yearly?**

9 / 20

**The compound and the simple interests on a certain sum at the same rate of interest for two years are Rs.11730 and Rs.10200 respectively. Find the sum.**

Explanation:

The simple interest for the first year is 10200/2 is Rs.5100 and compound interest for first year also is Rs.5100. The compound interest for second year on Rs.5100 for one year

So rate of the interest = (100 * 1530)/ (5100 * 1) = 30% p.a.

So P = (100 * 10200)/ (30 * 2) = Rs.17000

Explanation:

The simple interest for the first year is 10200/2 is Rs.5100 and compound interest for first year also is Rs.5100. The compound interest for second year on Rs.5100 for one year

So rate of the interest = (100 * 1530)/ (5100 * 1) = 30% p.a.

So P = (100 * 10200)/ (30 * 2) = Rs.17000

10 / 20

**A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum?**

11 / 20

**The compound interest accrued on an amount of Rs.44000 at the end of two years is Rs.1193.60. What would be the simple interest accrued on the same amount at the same rate in the same period?**

Explanation:

Let the rate of interest be R% p.a.

4400{[1 + R/100]^{2} – 1} = 11193.60

[1 + R/100]^{2} = (44000 + 11193.60)/44000

[1 + R/100]^{2} = 1 + 2544/1000 = 1 + 159/625

[1 + R/100]^{2} = 784/625 = (28/25)^{2}

1 + R/100 = 28/25

R/100 = 3/25

Therefore R = 12 SI on Rs.44000 at 12% p.a. for two years = 44000(2)(12)/100

=Rs.10560

Explanation:

Let the rate of interest be R% p.a.

4400{[1 + R/100]^{2} – 1} = 11193.60

[1 + R/100]^{2} = (44000 + 11193.60)/44000

[1 + R/100]^{2} = 1 + 2544/1000 = 1 + 159/625

[1 + R/100]^{2} = 784/625 = (28/25)^{2}

1 + R/100 = 28/25

R/100 = 3/25

Therefore R = 12 SI on Rs.44000 at 12% p.a. for two years = 44000(2)(12)/100

=Rs.10560

12 / 20

**The simple interest accrued on an amount of Rs.49500 at he end of three is Rs.17820. What would be the compound interest accured on the same amount at teh same rate in the same period? (Round off your answer to two decimal places)**

Explanation:

Let the rate of interest be R% p.a.

(49500)(3)(R)/100 = 17820

495R = 5940

R = 12

CI on Rs.49500 at 12% p.a. for three years

= 49500{[1 + 12/100]^{3} – 1} = 69543.936 – 49500 = Rs.20043.94

when rounded off to two decimal places.

Explanation:

Let the rate of interest be R% p.a.

(49500)(3)(R)/100 = 17820

495R = 5940

R = 12

CI on Rs.49500 at 12% p.a. for three years

= 49500{[1 + 12/100]^{3} – 1} = 69543.936 – 49500 = Rs.20043.94

when rounded off to two decimal places.

13 / 20

**A man gets a simple interest of Rs.500 on a certain principal at the rate of 5% p.a in two years. Find the compound interest the man will get on twice the principal in two years at the same rate.**

Explanation:

Let the principal be Rs.P

S.I at 5% p.a in 8 years on Rs.P = Rs.500

(P)(8)(5)/100 = 500

P = 1250

C.I on Rs.2P i.e., Rs.2500 at 5% p.a in two years

=2500{ [1 + 5/100]^{2} – 1} = 2500{ 21^{2} – 20^{2} /20^{2}}

= 2500/400(441 – 400)

= 25/4(41) = 1025/4 = Rs.256.25

Explanation:

Let the principal be Rs.P

S.I at 5% p.a in 8 years on Rs.P = Rs.500

(P)(8)(5)/100 = 500

P = 1250

C.I on Rs.2P i.e., Rs.2500 at 5% p.a in two years

=2500{ [1 + 5/100]^{2} – 1} = 2500{ 21^{2} – 20^{2} /20^{2}}

= 2500/400(441 – 400)

= 25/4(41) = 1025/4 = Rs.256.25

14 / 20

**A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.**

Explanation:

Let A be the amount received at the end of the three years.

A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]

A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)

A = Rs.7920

So the interest = 7920 – 4800 = Rs.3120

Explanation:

Let A be the amount received at the end of the three years.

A = 4800[1 + 10/100][1 + 20/100][1 + 25/100]

A = (4800 * 11 * 6 * 5)/(10 * 5 * 4)

A = Rs.7920

So the interest = 7920 – 4800 = Rs.3120

15 / 20

**Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?**

Explanation:

Rs.1440 – 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 * 240) / (100 * 1) = 20% p.a

Explanation:

Rs.1440 – 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 * 240) / (100 * 1) = 20% p.a

16 / 20

**Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years. (Round off your answer to nearest integer)**

Explanation:

CI = 14800{ [ 1 + 13.5/100]^{2} – 1 }

= 14800 { [1 + 27/200]^{2} – 1

= 14800 { 2 + 27/200}{27/200}

= (74)[2 + 27/200](27) =

1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266

Explanation:

CI = 14800{ [ 1 + 13.5/100]^{2} – 1 }

= 14800 { [1 + 27/200]^{2} – 1

= 14800 { 2 + 27/200}{27/200}

= (74)[2 + 27/200](27) =

1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266

17 / 20

**The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.**

Explanation:

Let the sum be Rs.P

P{ [ 1 + 8/100]^{2} – 1 } = 2828.80

P(8/100)(2 + 8/100) = 2828.80 [a^{2} – b^{2} = (a – b) ( a + b)] P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000 Principal + Interest = Rs. 19828.80

Explanation:

Let the sum be Rs.P

P{ [ 1 + 8/100]^{2} – 1 } = 2828.80

P(8/100)(2 + 8/100) = 2828.80 [a^{2} – b^{2} = (a – b) ( a + b)] P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000 Principal + Interest = Rs. 19828.80

18 / 20

**What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years, compounding done annually?**

Explanation:

A= P{1 + R/100}^{n}

=> 8000{1 + 10/100}^{2}^{2} = Rs.9680

Explanation:

A= P{1 + R/100}^{n}

=> 8000{1 + 10/100}^{2}^{2} = Rs.9680

19 / 20

**Jameel invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?**

Explanation:

Let the rate of interest be R% p.a.

17400[1 + R/100]^{2} = 17400 + 1783.50

[1 + R/100]^{2} = (17400 + 1783.50)/17400

= 1 + 1025/10000 = 1 + 41/400

= 441/400 = [21/20]^{2}

[1 + R/100] = 21/20

R/100 = 1/20

Therefore R = 5

Explanation:

Let the rate of interest be R% p.a.

17400[1 + R/100]^{2} = 17400 + 1783.50

[1 + R/100]^{2} = (17400 + 1783.50)/17400

= 1 + 1025/10000 = 1 + 41/400

= 441/400 = [21/20]^{2}

[1 + R/100] = 21/20

R/100 = 1/20

Therefore R = 5

20 / 20

**Find the amount on Rs.5000 in 2 years, the rate of interest being 4% per first year and 5% for the second year?**