
Concepts
 Practice Questions

Important Formulas
 The compound interest on â‚¹8,000 at 15% per annum for 2 years 4months. Compounded annually is
 â‚¹ 3091
 â‚¹ 3100
 â‚¹ 2980
 â‚¹ 3109
Answer is d
Â
2. A sum of â‚¹8,000 will amount to â‚¹8820 in 2 years if the interest is calculated every. The rate of compound interest is
 7%
 5%
 6%
 3%
Answer is b
Â
3. A principle of â‚¹10,000, 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
 â‚¹ 12320
 â‚¹ 11320
 â‚¹ 12000
 â‚¹ 12500
Answer is a
Â
4. Two years ago, the value of my motorbike was â‚¹62,500. When the value depreciates by 4% every year, now its value is
 â‚¹ 57,600
 â‚¹ 55,700
 â‚¹ 56,700
 â‚¹ 57,500
Answer is a
Â
5. The compound interest on a sum of money for 2years is â‚¹615 and the simple interest
 â‚¹ 6,000
 â‚¹ 9,500
 â‚¹ 6,500
 â‚¹ 8,000
Answer is a
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