ASSIGNMENT - 1

1. Mr. Dubey borrows Rs 1,00,000 from State Bank of India at 11% per annum compound interest. He repays Rs 41,000 at the end of first year and Rs 47,700 at the end of the second year. Find the amount outstanding at the beginning of the third year. 2. What sum of money will amount to Rs 9261 in 3 years at 5% per annum compound interest? 3. The simple interest on a sum of money for 2 years at 4% per annum is Rs 340. Find (i) the sum of money and (ii) the compound interest on this sum for one year payable half yearly at the same rate. 4. Ramesh invests Rs 12800 for three years at the rate of 10% per annum compound interest. Find : (i) The sum due to Ramesh at the end of the first year. (ii) The interest he earns for the second year. (iii) The total amount due to him at the end of the third year. 5. A person invests Rs 10,000 for two years at a certain rate of interest compounded annually. At the end of one year this sum amounts to Rs 12,000. Calculate : (i) the rate of interest per annum (ii) the amount at the end of the second year. 6. If the interest is compounded half yearly, calculate the amount when the principal is Rs 7400, the rate of interest is 5% per annum and the duration is one year. 7. The compound interest on a certain sum of money at 5% per annum for 2 years is Rs 246. Calculate the simple interest on the same sum for three years at 6% per annum. 8. What sum of money will amount to Rs 3630 in two years at 10% p.a. compound interest? 9. On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs 180. Find the sum lent out, if the rate of interest in both the cases is 10% p.a. 10. A man borrows Rs 5000 at 12% compound interest p.a., interest payable every six months. He pays back Rs 1800 at the end of every six months. Calculate the third payment he had to make at the end of 18 months in order to clear the entire loan. 11. Calculate the compound interest for the second year on Rs 8000 invested for 3 years at 10% p.a. 12. A man invests Rs 5000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs 5600. Calculate : (i) The rate of interest per annum, (ii) The interest accrued in the second year, (iii) The amount at the end of the third year. 13. A man invests Rs 46,875 at 4% per annum compound interest for 3 years. Calculate : (i) The interest for the 1st year, (ii) The amount standing to his credit at the end of the second year, (iii) The interest for the 3rd year. 14. The compound interest, calculated yearly, on a certain sum of money for the second year is Rs 880 and for the third year it is Rs 968. Calculate the rate of interest and the sum of money. 15. A sum of money is lent out at compound interest for 2 years at 20% p.a., C.I. being reckoned yearly. If the same sum of money was lent out at compound interest at the same rate per annum, C.I. being reckoned half-yearly, it would have fetched Rs 482 more by the way of interest. Calculate the sum of money lent out.

L A NA L IO U AT D N © E ER T IN

ANSWERS

Z B

1. 4. 5. 11. 14.

Rs 30,000 2. Rs 8000 3. (i) Rs 4250 (ii) Rs 171.70 (i) Rs 14080 (ii) Rs 1408 (iii) Rs 17036.80 20% p.a. (ii) Rs 14,400 6. Rs 7774.63 7. Rs 432 8. Rs 3000 9. Rs 72,000 10. Rs 2024.60 Rs 880 12. (i) 12% p.a. (ii) Rs 672 (iii) Rs 7,024.64 13. (i) Rs 1875 (ii) Rs 50,700 (iii) Rs 2,028 Rate = 10% p.a., Sum = Rs 8000 15. Rs 20,000 1

ASSIGNMENT - 2

1. How much will Rs 25000 amount to in 2 years, at compound interest, if the rates for the successive years are 4% and 5% per year? 2. What sum of money will amount to Rs 3704.40 in 3 years at 5% p.a. compound interest? 3. How much will Rs 10000 amount to in 2 years at compound interest, the rates for the successive years being 5% and 6% p.a. respectively? 4. Calculate the amount of Rs 15000 at the end of 2 years 4 months, compounded annually at 6% per annum. 5. A...

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