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A man borrows 12500 from a bank at 20% compound interest. At the end of every year he pays 2000 as part repayment. How much (in rupees) does he still owe to the bank after three such instalments? |

A) 15600
B) 12864
C) 13780
D) 14320
Correct Answer :14320 Explanation :Remaining amount after 1 year = 12500 *(120/100) - 2000 = 13000 |

A sum of 2400 deposited on compound interest, doubled after 5 years. How much will it be after 20 years? |

A) 24000
B) 38400
C) 19200
D) 14320
Correct Answer :38400 Explanation :2P = P *(1 + R/100) The amount becomes 2 |

In how many years Rs 800 will be Rs 882 at 5% per annum if compounded annually? |

A) 1 year
B) 2 years
C) 3 years
D) 4 years
Correct Answer :2 years Explanation :amount = P ( 1 + R/100 ) |

How much will the compound interest at the rate of 15/2% annually in 2 years on 6400 rupees? |

A) 1016
B) 996
C) 976
D) 966
Correct Answer :996 Explanation :compound interest, CI= 6400* (1 + (15 / 2) / 100 ) |

The difference between the simple and the compound interest on a certain sum of money at 4% per annum in 2 years is 10 rs. What is the sum ? |

A) 5,000 B) 6,000 C) 6,250 D) 7,500 Correct Answer :6,250 Explanation :Let the sum is 100 then So, 0.16 : 10 : : 100 : P |

The effective annual rate of interest corresponding to a nominal rate of 22% per annum payable half-yearly is? |

A) 44% B) 23.21% C) 46.42% D) 22% Correct Answer :23.21% Explanation :Amount = P[1+(R/2)/100] Let the amount is 100 for one year Then, Effective rate = 123.21 -100 = 23.21% |