


15.
What annual payment will discharge a debt of Rs. 7620 due in 3 years at 16 2/3% per annum compound interest?
Answer & Solution
Answer: c) Rs. 3430
Solution: Let each instalment be Rs. x. Then, (P.W. of Rs. x due 1 year hence) + (P.W. of Rs. x due 2 years hence) + (P.W. of Rs. x due 3 years hence) = 7620 x/[1 + [50/(3 * 100)]] + x/[1 + [50/(3 * 100)]]^2 + x/[1 + [50/(3 * 100)]]^3 = 7620 => (6x/7) + (36x/49) + (216x/343) = 7620 => 294x + 252x + 216x = 7620 * 343 => x = [(7620 * 343)/762] = 3430 Amount of each instalment = Rs. 3430 16.
Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit? [Bank P.O. 1999]
17.
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.? [S.B.I.P.O. 2003]
18.
The compound interest on Rs. 20,480 at 6 1/4% per annum for 2 years 73 days, is :
19.
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? [Hotel Management, 2003]
20.
Sam invested Rs. 15,000 @ 10% per annum for one year. If the interest is compounded halfyearly, then the amount received by Sam at the end of the year will be: [S.B.I.P.O. 2002]
21.
A bank offers 5% compound interest calculated on halfyearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is: [N.D.A. 2000]
