Compound Interest Worksheet-4

Compound Interest Worksheet-4

A sum of money becomes Rs. 13,380 after 3 years and Rs. 20,070 after 6 years on compound interest. The sum is :

(a) Rs. 8800 (b) Rs. 8890 (c) Rs. 8920 (d) Rs. 9040

A sum of Rs. 12,000 deposited at compound interest becomes double after 5 years. After 20 years, it will become :

(a) Rs. 96,000 (b) Rs. 1,20,000

A sum of money placed at compound interest doubles itself in 5 years. It will amount to eight times itself at the same rate of interest in :

(a) 7 years (b) 10 years (c) 15 years (d) 20 years

If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in :

(a) 8 years (b) 12 years (c) 24 years (d) 36 years

The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is :

(a) 3 (b) 4 (c) 5 (d) 6

A man borrows Rs. 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly installments. How much will each installment be ?

(a) Rs. 1275 (b) Rs. 1283 (c) Rs. 1352 (d) Rs. 1377

What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest ?

(a) Rs. 550 (b) Rs. 551.25

A man borrows Rs. 12,500 at 20% compound interest. At the end of every year he pays Rs. 2000 as part repayment. How much does he still owe after three such installments ?

(a) Rs. 12,000 (b) Rs. 12,864

A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% compound interest. The sum borrowed was :

(a) Rs. 1620 (b) Rs. 1640 (c) Rs. 1680 (d) Rs. 1700

Answer Key:

(1)-c; (2)-d; (3)-c; (4)-b; (5)-b; (6)-c; (7)-b; (8)-d; (9)-b