Compound Interest with Explanation

Q8. Abhay lent Rs. 8000 to his friend for 3 years at the rate of 5% per annum compound interest. What amount does Abhay get after 3 years?

A. Rs. 9421 B. Rs. 9321
C. Rs. 9161 D. Rs. 9261

Q9. Find the compound interest at the rate of 10% per annum for four years on the principal which in four years at the rate of 4% per annum gives Rs. 1600 as simple interest.

A. Rs. 4641 B. Rs. 4732
C. Rs. 4321 D. Rs. 4899

Q10. Under the electrification programme of villages, the government could electrify 5% and 10% of villages respectively in two years. If the number of villages without electricity was 25000 two years ago, how many villages are without electricity now?

A. 23750 B. 21375
C. 22564 D. 20154

Q11. A sum of money doubles itself at compound interest in 2 years. In how many years will it becomes eight times?

A. 4 years B. 5 years
C. 6 years D. 7 years

Q12. Jack deposited in a bank Rs. 7500 for 6 months at the rate of 8% interest compounded quarterly. Find the amount he received after 6 months?

A. Rs. 7600 B. Rs. 7632
C. Rs. 7421 D. Rs. 7803

Q13. Mike bought a refrigerator for Rs. 4000 on credit. The rate of interest for the first year is 5% and of the second year is 15%. How much will it cost him if he pays the amount after two years?

A. Rs. 4830 B. Rs. 4930
C. Rs. 4463 D. Rs. 4630