### Ques 1.

Population of a city is 198000. It increased by 7% in the Ist year and decreased by 5% in the IInd year. What is the population of the city in third year.(a) 218900

(b) 201267

(c) 201860

(d) 212453

### Ques 2.

What will be the difference in annual simple and compound interests at the rate of 12%p.a on the sum Rs. 960 after 2 years compounded annually?

*(Very important)*(a) Rs. 13.824

(b) Rs. 20.224

(c) Rs. 24.04

(d) Rs. 31

### Ques 3.

If rate of interest is 4% compounded quarterly. What will be the amount if a man invests Rs. 2000 for 1 year ?(a) Rs. 2060

(b) Rs. 2081.21

(c) Rs. 2100.25

(d) Rs. 2125.54

### Ques 4.

A bank offers 5% interest compounded half yearly. A customer deposits Rs. 1600 each on 1st January and 1st July of a year . At the end of the year , the amount he would have gained by the way of interest is :(a) Rs. 123

(b) Rs, 122

(C) Rs. 121

(d) Rs. 120

### Ques 5.

An amount increased by 60% in years at simple interest. What will be the compound interest of Rs. 12000 after 3 years at the same rate ?(a) Rs. 6240

(b) Rs. 3972

(c) Rs. 3120

(d) Rs. 2160

### Ques 6.

If a sum of money is borrowed and returned in equal installments of Rs.882. Find the sum borrowed :

*(Very important)*(a) Rs. 1700

(b) Rs. 1680

(c) Rs. 1640

(d) Rs.1620

### Ques 7.

In how many years a sum of money will be doubled if interest rate is 20% compounded annually.(a) 6

(b) 5

(c) 4

(d) 3

### Ques 8.

Nominal rate of compound interest is 6%per annum paid half yearly. Find effective rate of interest :(a) Rs. 6.09%

(b) Rs. 6.08%

(c) Rs. 6.07%

(d) Rs. 6.06%

### Solutions :

**Ans 1.**

**Ans 2.**

**Ans 3.**

**Ans 4.**

.

Hence, required interest = 3321 - 3200 = Rs. 121

**Ans 5.**

**Ans 6.**

**Ans 7.**

So, n = 4 years

**Ans 8.**

Hence , C.I = 106 .09 - 100 = Rs. 6.09

So, required effective rate = 6.09% p.a.

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*Bank Exams Today Notes*

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