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Concepts
- Practice Questions
- Important Formulas
- A sum of ₹400 amounts to ₹480 in 4 years. If the rate of interest is increased by 2% what will it amount to?
- ₹ 560
- None of These
- ₹ 484
- ₹ 512
Answer is c
2. A man loses ₹55.50 yearly when the annual rate of interest falls from 11.5% to 10%. His capital (in rupees) is
- 7400
- 11100
- 3700
- 8325
Answer is c
3. If the annual rate of simple interest increases from 10% to 12%, a man’s yearly income increases by ₹1250. His principle (in rupees) is
- 45000
- 65000
- 50000
- 60000
Answer is c
4. The effective annual rate of interest corresponding to a nominal rate of 13% per annum payable half-yearly is
- 26.85 percent
- 13.42 percent
- 26 percent
- 13 percent
Answer is b
5. Rohan borrowed a certain sum of money at simple interest. When the rate of interest was 3% per annum for first three years, 4% per annum for next five years and 6% per annum for next seven years and If he paid Rs.2059 as interest, then what is the sum borrowed (in Rs.)?
- 2500
- 3100
- 2400
- 2900
Answer is d
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