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Home › Grade8 › OLYMPIAD › Math Olympiad-Grade-8 › Compound Interest › Compound Interest Worksheet-3

Compound Interest Worksheet-3

Compound Interest Worksheet-3

 

  1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is :

(a) 625               (b) 630               (c) 640               (d) 650

 

  1. The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and the simple interest for 3 years will be :

(a) Rs. 48          (b) Rs. 66.56     (c) Rs. 98.56     (d) None of these

 

  1. The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum ?

(a) Rs. 6000     (b) Rs. 8000     (c) Rs. 10,000  (d) Rs. 12,000

(e) None of these

 

  1. The difference between compound interest and simple interest on a sum for 2 years at 10% per annum, when the interest is compounded annually is Rs. 16. If the interest were compounded half-yearly, the difference in two interests would be :

(a) Rs. 24.81     (b) Rs. 26.90    (c) Rs. 31.61      (d) Rs. 32.40

 

  1. A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs. 482 more, if the interest was payable half-yearly than if it was payable annually. The sum is :

(a) Rs. 10,000                               (b) Rs. 20,000

(c) Rs. 40,000                              (d) Rs. 50,000

 

  1. On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is :

(a) 10%               (b) 10.5%           (c) 12%               (d) None of these

 

  1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is :

(a) 6.06%          (b) 6.07%          (c) 6.08%          (d) 6.09%

 

  1. Mr. Dua invested money in two schemes A and B offering compound interest @ 8 p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two schemes together in two years was Rs. 4818.30 and the total amount invested was Rs. 27,000, what was the amount invested in Scheme A ?

(a) Rs. 12,000                               (b) Rs. 13,500

(c) Rs. 15,000                               (d) Cannot be determined

(e) None of these

 

  1. A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:

(a)             (b) 4%                (c) 5%                 (d)

 

  1. A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. The sum of money is :

(a) Rs. 4096      (b) Rs. 4260     (c) Rs. 4335      (d) Rs. 4360

 

Answer Key:

(1)-a; (2)-c; (3)-b; (4)-a; (5)-b; (6)-d; (7)-d; (8)-a; (9)-c; (10)-a