SIMPLE INTEREST, COMPOUND INTEREST INCLUDING ANNUITY

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1 Chapter SIMPLE INTEREST, COMPOUND INTEREST INCLUDING ANNUITY 006 November. 8,000 becomes 0,000 i two years at simple iterest. The amout that will become 6,875 i years at the same rate of iterest is:,850 (b) 5,000 (c) 5,500 (d) 5,75. The differece betwee the simple ad compoud iterest o a certai sum for year at 5% p.a. is The compoud iterest o the sum for years at 5% p.a. is:,75 (b),075 (c),75 (d),975. Mr. X ivests 0,000 every year startig from today for ext 0 years suppose iterest rate is 8% per aum compouded aually. Calculate future value of the auity: (Give that ( ) 0 = ] (b) (c) (d) Noe of these. The preset value of a auity of,000 for 5 years at.5% p.a. C.I. is: [Give that (.05) 5 =.958], (b),8.67 (c), (d) Noe of these 007 February 5. The rate of simple iterest o a sum of moey is 6% p.a. for first years, 8% p.a. for the ext five years ad 0% p.a. for the period beyod 8 years. If the simple iterest accrued by the sum for a period for 0 years is,560. The sum is:,500 (b),000 (c),000 (d) 5, A sum of moey doubles itself i 0 years. The umber of years it would treble itself is: 5 years (b) 5 years (c) 0 years (d) Noe 7. I what time will,90,65 amout to,56,976 at 8% per aum, whe the iterest is compouded semi-aually? [Give: (.0) =.6986] years (b) years (c) 5 years (d) 7 years 8. A machie ca be purchased for 50,000. Machie will cotribute,000 per year for the ext five years. Assume borrowig cost is 0% per aum. Determie whether machie should be purchased or ot: Should be purchased (b) Should ot be purchased (c) Ca t say about purchase (d) Noe of the above 9. How much amout is required to be ivested every year so as to accumulate,00,000 at the ed of 0 years, if iterest is compouded aually at 0%? [Give (.) 0 =.597] 8,8.65 (b) 8,88.65 (c) 8,8.65 (d) 8, May 0. A certai sum of moey amouts to 6,00 i two years ad 7,875 i three years ie moths at simple iterest. Fid the rate of iterest per aum: 0% (b) 8% (c) 5% (d) 0%. How log will,000 take to amout to,000 at 5% p.a. coverted quarterly? [Give: (.05). =.666] years (b). years (c).5 years (d). years 6

2 . A compay is cosiderig proposal of purchasig a machie either by makig full paymet of,000 or by leasig it for four years at a aual rate of,50. Which course of actio is preferable, if the compay ca borrow moey at % compouded aually? [Give: (.) =.68896] Leasig is preferable (b) Should be purchased (c) No differece (d) Noe of these. Vipul purchases a car for 5,50,000. He gets a loa of 5,00,000 at 5% p.a. from a bak ad balace 50,000 he pays at the time of purchase. He has to pay the whole amout of loa i equal mothly istalmets with iterest startig from the ed of the first moth. The moey he has to pay at the ed of every moth is: [Give (.05) =.60755] 5,0. (b) 5,0. (c) 5,0. (d) Noe of these 007 August. If,000 be ivested at iterest rate of 5% ad the iterest be added to the pricipal every 0 years, the the umber of years i which it will amout to,000 is: 6 years (b) 6 years (c) 6 years (d) 7 6 years 5. The aual birth ad death rates per 000 are 9. ad 9. respectively. The umber of years i which the populatio will be doubled assumig there is o immigratio or emigratio is: 5 years (b) 0 years (c) 5 years (d) Noe of these 6. The effective rate equivalet to omial rate of 6% compouded mothly is: 6.05 (b) 6.6 (c) 6.6 (d) A compay establishes a sikig fud to provide for the paymet of,00,000 debt maturig i 0 years. cotributios to the fud are to be made at the ed of every year. Fid the amout of each aual deposit if iterest is 5% per aum: 6, (b) 6,09 (c) 6,05 (d) 6, November 8. A perso borrows 5,000 for years at % p.a. simple iterest. He immediately leds to aother perso at 6 % p.a. for years. Fid the gai i the trasactio per year:.50 (b) 5 (c) 5 (d) A perso deposited 5,000 i a bak. The deposit was left to accumulate at 6% compouded quarterly for the first five years ad at 8% compouded semi-aually for the ext eight years. The compoud amout at the ed of years is: 6.50 (b) 6.0 (c) 6.0 (d) Noe 0. Raja aged 0 wishes his wife Rai to have 0 lakhs at his death. If his expectatio of life is aother 0 years ad he starts makig equal aual ivestmets commecig ow at % compoud iterest p.a. How much should he ivest aually? 8,077 (b) 8,68 (c) 8,9 (d) 8,7 008 February. Two equal sums of moey were let at simple iterest at % p.a. for years ad respectively. If the differece i iterests for two periods was.50, the each sum is:,50 (b),500 (c),750 (d),50 years

3 . Ashul s father wishes to have 75,000 i a bak accout whe his first college expeses begi. How much amout his father should deposit ow at 6.5% compouded aually if Ashul is to start college i 8 years hece from ow? 5,60 (b) 6,60 (c) 55,60 (d) 8,60. A compay may obtai a machie either by leasig it for 5 years (useful life) at a aual ret of,000 or by purchasig the machie for 8,00. If the compay ca borrow moey at 8% per aum, which alterative is preferable? Leasig (b) Purchasig (c) Ca t say (d) Noe of these 008 Jue. I how much time would the simple iterest o a certai sum be 0.5 times the pricipal at 0% per aum? years (b) years (c) 8 years (d) years 5. The differece betwee compoud iterest ad simple iterest o a certai sum for 0% p.a. is 0. Fid the sum:,00 (b),095 (c),000 (d) A machie worth,90,70 is depreciated at 5% o its opeig value each year. Whe its value would reduce to,00,000: 5 years 6 moths (b) 5 years 7 moths (c) 5 years 5 moths (d) Noe 7. A sikig fud is created for redeemig debetures worth 5 lacs at the ed of 5 years. How much provisio eeds to be made out of profits each year provided sikig fud ivestmets ca ear iterest at % p.a.?,006 (b),00 (c),09 (d), December 8. If the differece betwee simple iterest ad compoud iterest is at the rate of 0% for two years, the fid the sum.,00 (b),00 (c),000 (d) Noe of these 9. Future value of a ordiary auity: ( i) A(, i) = A i (c) A(, i) = ( i) A i ( i) (b) A(, i) = A i (d) A(, i) = ( i) A i( i) 0. Fid the umbers of years i which a sum doubles itself at the rate of 8% per aum. (b) (c) 9 (d) 009 Jue. I how may years, a sum will become double at 5% p.a. compoud iterest..0 years (b). years (c). years (d). years. The time by which a sum of moey is 8 times of itself if it doubles itself i 5 years. years (b) years (c) 5 years (d) 6 years

4 . What is the rate of simple iterest if a sum of moey amouts to,78 i years ad,688 i years? % p.a. (b) % p.a. (c) 5% p.a. (d) 8% p.a.. A sum amout to, at a pricipal of,000 at 0% compouded aually. Fid the time.. years (b) years (c) years (d) years 5. Paul borrows 0,000 o coditio to repay it with compoud iterest at 5% p.a. i aual istalmet of,000 each. Fid the umber of years i which the debt would be paid off. 0 years (b) years (c) years (d) 5 years December 6. I how may years, a sum of,000 compouded 0%, will amout to,? 6 years (b) 5 years (c) years (d) years 7. The compoud iterest for a certai 5% p.a. for first year is 5. The SI for the same 5% p.a. for years will be 0 (b) 50 (c) 60 (d) Jue 8. At what % rate of compoud iterest (C.I.) will a sum of moey become 6 times i four years, if iterest is beig calculate compoudig aually? r = 00% (b) r = 0% (c) r = 00% (d) r = 0% 9. Fid the preset value of a auity of,000 payable at the ed of each year for 0 years. If rate of iterest is 6% compoudig per aum (give (.06) -0 = 0.558): 7,60 (b) 8,60 (c),000 (d) Noe of these 0. If the simple iterest o a sum of moey at % p.a. for two years is,600. The compoud iterest o the same sum for two years at the same rate is:,86 (b),806 (c),86 (d), December. The future value of a auity of 5,000 is made aually for 8 years at iterest rate of 9% compouded aually. [Give that (.09) 8 =.9956] is. 55,. (b) 65,. (c) 65,5. (d) 57,5.. The effective aual rate of iterest correspodig to omial rate 6% p.a. payable half yearly is 6.06% (b) 6.07% (c) 6.08% (d) 6.09%. The cost of machiery is,5,000. If its useful life is estimated to be 0 years ad the rate of depreciatio of its cost is 0% p.a., the the scrap value of the machiery is [Give that (0.9) 0 = 0.5] 5,87 (b) 5,00 (c) 5,00 (d) 5,50. Mr. X ivests P amout at Simple Iterest at 0% ad Mr. Y ivests Q amout at Compoud Iterest rate 5% compouded aually. At the ed of two years both get the same amout of iterest, the the relatio betwee two amouts P ad Q is give by: P = Q 80 (b) P = Q 0 Q (c) P = 00 Q (d) P = 00 9

5 0 Jue 5. If the differece of S.I. ad C.I. is 7 at % for years. Calculate the amout. 8,000 (b) 6,000 (c) 5,000 (d) 7, If a simple iterest o a sum of moey at 6% p.a. for 7 years is equal to twice of simple iterest o aother sum for 9 years at 5% p.a. The ratio will be: : 5 (b) 7 : 5 (c) 5 : 7 (d) : 7 7. By mistake a clerk, calculated the simple iterest o pricipal for 5 moths at 6.5% p.a. istead of 6 moths at 5.5% p.a. If the error i calculatio was 5.0. The origial sum of pricipal was. 60,690 (b) 60,960 (c) 90,660 (d) 90,690 0 December 8. If the Simple Iterest o,00 for years is less tha the simple iterest o,800 or the same period by 80, the the rate of iterest is 5.67% (b) 6.67% (c) 7.0% (d) 5.00% 9. Nomial rate of iterest is 9.9% p.a. If iterest is compouded mothly, what will be the 0 effective rate of iterest? [Give 000 =.06 (approx.)) 0.6% (b) 9.6% (c).6% (d) 9.9% 0 Jue 50. The S.I. o a sum of moey is 9 of the pricipal ad the o. of years is equal to the rate of iterest per aum. Fid the rate of iterest per aum? 5% (b) 0/% (c) /7% (d) 6% 5. Simple iterest o,000 for 5 moths at 6% p.a. is.. (b).6 (c).00 (d).09 0 December 5. How much ivestmet is required to yield a aual icome of 0 at 7% p.a. simple iterest? 6,000 (b) 6,0 (c) 5,580 (d) 5, Mr. X ivests 90,500 i post office at 7.5% p.a. simple iterest. While calculatig the rate was wrogly take as 5.7% p.a. The differece i amouts at maturity is 9,77. Fid the period for which the sum was ivested. 7 years (b) 5.8 years (c) 6 years (d) 8 years 0 Jue 5. The differece betwee compoud ad simple iterest o a certai sum of moey for years at % p.a. is. The sum (i ) is: 65 (b) 60 (c) 60 (d) A sum of moey compouded aually becomes,0 i two years ad,70 i three years. Fid the rate of iterest per aum. 0% (b) 0% (c) 50% (d) 60% ---- ***

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