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 |
Amount after 3 years = P
Amount = Rs. 8000Q9. 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 |
