Directions: Study the following information carefully and answer the questions give below: Total amount = 225000
Total amount = 300000
1) If Meena invested her amount on simple interest at 6% per annum for 4 years and her amount on compound interest at 5% per annum for two years, then find the difference between compound interest and simple interest earned by her.
A. Rs.5120
B. Rs.4980
C. Rs.4650
D. Rs.5730
E. None of these
Sol:
Amount invested by Meena on simple interest =
22/100 x 225000 = Rs. 49500
Amount invested by Meena on compound
interest = 20/100 x 300000 = Rs. 60000
We know that,
SI = (P x r x t)/100
= (49500 x 6 x 4)/100
= Rs. 11880
We know that
CI = P x (1 + r/100)t – P
= 60000 x (1 + 5/100)2 – 60000
= 60000 x 105/100 x 105/100 – 60000
= 66150 – 60000
= Rs. 6150
Required difference = 11880 – 6150 = Rs. 5730
2) Total amount received by Reena on simple interest at 8% per annum after 6 years will be approximately what percent of total amount received by Reena on compound interest at 10% per annum after 3 years?
A. 172%
B. 178%
C. 169%
D. 162%
E. 148%
Amount invested by Reena on simple interest =
32/100 x 225000 = Rs.72000
Amount invested by Reena on compound
interest = 15/100 x 300000 = Rs.45000
We know that amount on simple interest = (P x r
x t)/100 + P
Total amount of Reena on simple interest =
(72000 x 8 x 6)/100 + 72000
= 34560 + 72000
= Rs.106560
We know that amount on compound interest = p
x (1 + r/100)t
Total amount of Reena on compound interest
= 45000 x 110/100 x 110/100 x 110/100
= Rs.59895
Required percentage = (106560/59895) x 100 =
177.91% = 178% approx.
3) If Tina invests 20% more amount in compound interest, then find the sum of her total amount on compound interest at 6% per annum after three years and total amount on simple interest at 5% per annum after 4 years?
A. Rs.123536.65
B. Rs.139591.44
C. Rs.145231.36
D. Rs.165832.24
E. None of these
Amount invested by Tina in compound interest =
25/100 x 300000 = Rs.75000
Increased amount invested by Tina in compound
interest
= 75000 x 120/100 = Rs.90000
We know that amount in compound interest = p x
(1 + r/100)t
Total amount of Tina in compound interest
= 90000 x 106/100 x 106/100 x 106/100
= Rs.107191.44
Amount invested by Tina in simple interest =
12/100 x 225000 = Rs.27000
We know that amount in simple interest = (P x r
x t)/100 + P
= (27000 x 5 x 4)/100 + 27000
= 5400 + 27000
4) Find the respective ratio of simple interest to compound interest earned by Sona at 4% per annum after 3 years.
A. 1107: 5133
B. 2152: 3093
C. 2625: 7804
D. 1123: 5321
E. None of these
Amount invested by Sona on simple interest =
14/100 x 225000 = Rs.31500
We know that
SI = (P x r x t)/100
= (31500 x 4 x 3)/100
= Rs. 3780
Amount invested by Sona on compound interest
= 30/100 x 300000 = Rs.90000
We know that
CI = P x (1 + r/100)t – P
= 90000 x (1 + 4/100)3 – 90000
= 90000 x 104/100 x 104/100 x 104/100 – 90000
= 101237.76 – 90000
= Rs.11237.76
Required ratio = 3780: 11237.76 = 2625: 7804
5)Total amount received by Leena on simple interest at 6% per annum after 4 years is approximately what percent more/less than the total amount received by Leena on compound interest at 5% per annum after 2 years?
A. 69% more
B. 55% more
C. 69% less
D. 55% less
E. 32% more
Amount invested by Leena on simple interest =
20/100 x 225000 = Rs.45000
Amount invested by Leena on compound
interest = 10/100 x 300000 = Rs.30000
We know that amount on simple interest = (P x r
x t)/100 + P
= (45000 x 6 x 4)/100 + 45000
= 10800 + 45000
= Rs.55800
We know that amount on compound interest = p
x (1 + r/100)t
= 30000 x (1 + 5/100)2
= 30000 x 105/100 x 105/100
= Rs. 33075
Required percentage = [(55800 – 33075)/33075]
x 100
= (22725/33075) x 100
= 68.707% more
= 69% more
