1. The compound interest on a certain sum for 2 years is Rs. 756 and Simple interest is Rs. 720. If the sum is invested such that the SI is Rs. 900 and the number of years is equal to the rate percent per annum, find the rate percent? (3)
- (1) 10%
- (2) 12%
- (3) 5%
- (4) 15%
- (5) None of these
2. Arun and Gaurav have to clear their respective loans by paying 3 equal annual instalments of Rs. 30,000 each. Arun pays @ 10% per annum of simple interest while Gaurav pays 10% per annum compound interest. What is the difference in their loan amounts? (3)
- (1) Rs. 400
- (2) Rs. 350
- (3) Rs. 300
- (4) Rs. 450
- (5) Rs. 500
3. Anjali invested an amount of Rs. 5800 for 2 years. At what rate of Compound Intrest will she get an amount of Rs. 594.50 at the end of two years? (1)
- (1) 5%
- (2) 8%
- (3) 7%
- (4) 9%
- (5) 10%
4. A man borrows Rs. 3000 at rate of 10% compounded annually. At the end of each year, he pays back Rs. 1000. How much amount should he pay at the end of the 3rd year to clear all his dues? (4)
- (1) Rs. 1583
- (2) Rs. 1789
- (3) Rs. 1600
- (4) Rs. 1683
- (5) None of these
5. Anjali took a loan of Rs. 20,000 to purchase a TV set from LG. She promised to make the payment after three years. The company charges CI @ 10% per annum for the same. But, suddenly the company announces the rate of interest as 15% per annum for the last one year of the loan period. What extra amount she has to pay due to the announcement of new rate of interest? (1)
- (1) Rs. 1210
- (2) Rs. 1310
- (3) Rs. 1220
- (4) Rs. 1320
- (5) None of these
