In the beginning of the year 2001, Mr. X invest some amount in a bank, In the beginning of 2004, the accumulated interest is Rs. 10000 and in the beginning of 2007, the accumulated interest becomes Rs. 25000. The interest rate is compounded annually and annual interest rate is fixed. The principle amount is:
1). 16000
2). 25000
3). 24000
4). 20000
A sum is invested at 10% annual rate of simple interest for 4 years. Rs. 355 is the increase in interest if the rate of interest is increased by 5% of the initial rate. What is the sum?
1). Rs. 17000
2). Rs. 17450
3). Rs. 17750
4). Rs. 17550
A man invests Rs. 6000 for 3 years at 8% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year.
1). Rs. 7125.42
2). Rs. 7546.8
3). Rs. 6792.6
4). Rs. 7227.3
Directions: Given below are two quantities. Based on the given information, you have to determine the relation between the two quantities.
Quantity A: A man purchased a mobile valued Rs. 26040 from a dealer and promises to pay the amount in 3 equal installments at the rate of 12.5% per annum compounded annually. Find the value of each installment.
Quantity B: A man borrowed a sum of Rs. 25000 from bank at 10% interest per annum. He pays back Rs. 10000 at the end of each year. Calculate how much amount he will have to pay at the end of 3rd year to clear his dues?The difference of compound interest and simple interest for 3 years and for 2 years are in ratio 23 : 7 respectively. What is rate of interest per annum (in %)?
1). 200/7
2). 100/7
3). 300/7
4). 400/7