


22.
What is the difference between the compound interest on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and halfyearly? [S.S.C. 2000]
Answer & Solution
Answer: d) Rs. 2.04
Solution: C.I. when interest is compounded halfyearly = Rs. [5000 * {1 + (4/100)} * [1 + [((1/2) * 4)/100]]] = Rs. [5000 * (26/25) * (51/50)] = Rs. 5304 C.I. when interest is compounded halfyearly = Rs. [5000 * {1 + (4/100)}^3 ] = Rs. [5000 * (51/50) * (51/50) * (51/50)] = Rs. 5306.04 Difference = Rs. (5306.04  5304) = Rs. 2.04 23.
Find the compound interest on Rs. 15,625 for 9 months at 16% per annum compounded quarterly. [R.R.B. 2002]
24.
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same rate and for the same time? [C.B.I. 1997]
25.
What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years? [Bank P.O. 2002]
26.
The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned halfyearly is: [R.R.B. 2002]
27.
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is: [L.I.C.A.A.O. 2003]
28.
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
