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Question 1
What is the amount receivable on Rs. 60000 after 6 months, invested at a rate of 20% compounded quarterly?
Question 2
How much interest does an amount of Rs. 3000000 earn @8% compounded annually for 3 years?
Question 3
The compound amount after 3 years on a principal of Rs. x is same as that on a principal of Rs. (621 - x) after 4 years, then what is x if the rate of interest is 7% p.a. compounded yearly?
Question 4
The interest earned by an amount of Rs. 20000 @5% compounded annually is Rs. 2050. What is the period in years?
Question 5
The difference in compound interest(annual compounding) and simple interest for a period of 2 years is Rs. 252. What is the principal amount if the rate is 6% p.a.?
Rs. 70000.
Rs. 80000.
Rs. 60000.
Rs. 90000.
Ans: a
The shortcut formula for the difference between compound and simple interest over a period of 2 years is $Difference = Principal × (\text"rate"/100)^2$. So Principal = $(Difference × 10000)/(rate × rate)$ = $(252 × 10000)/(6 × 6)$ = Rs. 70000.
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This Blog Post/Article "Compound Interest Quiz Set 019" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2020-02-07. Published on: 2016-04-30