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Solved Examples on SIMPLE INTEREST AND COMPOUND INTEREST

Posted on - 23-04-2017

QA Math SI CI

Bank PO

Example.1

What is the compound interest on Rs.10240 at 25% p.a. for one and a half year compounded semi-annually? .

Solution

A = P

Here R = 12.5% and n = 3 .

A = 10240

A = 10240

A = = Rs.14580

\ Compound interest = 14580 - 10240 = 24340. .

example.2

What is the compound interest on Rs.10000 at 40% p.a. for 9 months, interest being compounded quarterly? .

Solution

A = P

Here, P = Rs.10000, R = 10% and n = 3 .

A = 10000= 13310

Compound interest = 13310 - 10000 = Rs.3310 .

example.3

What sum becomes Rs.10368 in 3 years at 20% p.a compound interest compounded annually? .

Solution

A = P

Given, 10368 = P

10368 = P


&⇒
P = = Rs.6000

example.4

At what rate of simple interest a sum of money doubles itself in 12 years?

Solution

Let the Principal be Rs.P. .

Then amount = 2P

So, simple interest = 2P - P = P

So R =

example.5

A sum of money becomes 27 times itself in 3 years at compound interest. Find the rate of interest per annum. .

Solution

Let Principal be Rs.P. So amount = 27P .

27P = P


&⇒
=27


&⇒
1 + = 3


&⇒
R = 200%

 
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