Question : Basanthi deposited INR 50,000 in a co-operative bank which is giving compound interest at the rate of 10% per annum. What will be her interest in the 3rd year?
Option 1: INR 66,550
Option 2: INR 6,050
Option 3: INR 5,050
Option 4: INR 10,050
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Correct Answer: INR 6,050
Solution : Principal sum = INR 50000 Rate = 10% per annum compounded annually Interest in first year = 10% of 50000 = 5000 Amount after one year = 55000 Interest in second year = 10% of 55000 = 5500 Amount after two years = 55000 + 5500 = 60500 Interest in third year = 10% of 60500 = 6050 Hence, the correct answer is INR 6050.
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Question : Radha deposited INR 1,60,000 at a 10% rate of Compound Interest per annum for two years. If the interest is compounded semi-annually, then what is the Compound Interest (in INR)?
Option 1: 16,400
Option 2: 34,481
Option 3: 74,256
Option 4: 33,600
Question : Find the compound interest on INR 50,000 for one year at 8% per annum when compounded half-yearly.
Option 1: INR 3,900
Option 2: INR 3,880
Option 3: INR 4,080
Option 4: INR 3,950
Question : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 1,000 become Rs. 1,060.90 in 2 years?
Option 1: 2% per annum
Option 2: 4% per annum
Option 3: 3% per annum
Option 4: 5% per annum
Question : The difference between the simple and compound interest on a certain sum of money at an $8\%$ rate of interest per annum for two years is INR 56. Find the sum.
Option 1: INR 8750
Option 2: INR 7058
Option 3: INR 7805
Option 4: INR 8057
Question : If the difference between the compound interest and simple interest on a certain sum of money for 3 years at the rate of 4% per annum is INR 76, then what is the sum?
Option 1: INR 16,725
Option 2: INR 12,925
Option 3: INR 15,625
Option 4: INR 18,825
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