
Concepts
 Practice Questions

Important Formulas
 The compound interest on ₹8,000 at 15% per annum for 2 years 4months. Compounded annually is
 ₹ 3091
 ₹ 3100
 ₹ 2980
 ₹ 3109
Answer is d
2. A sum of ₹8,000 will amount to ₹8820 in 2 years if the interest is calculated every. The rate of compound interest is
 7%
 5%
 6%
 3%
Answer is b
3. A principle of ₹10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to
 ₹ 12320
 ₹ 11320
 ₹ 12000
 ₹ 12500
Answer is a
4. Two years ago, the value of my motorbike was ₹62,500. When the value depreciates by 4% every year, now its value is
 ₹ 57,600
 ₹ 55,700
 ₹ 56,700
 ₹ 57,500
Answer is a
5. The compound interest on a sum of money for 2years is ₹615 and the simple interest
 ₹ 6,000
 ₹ 9,500
 ₹ 6,500
 ₹ 8,000
Answer is a
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