Compound Interest Mcq Model Questions & Answers, Practice Test for ibps po prelims 2024 2025

Answer:(d)

The yearly increase in the population is 3%.

Thus, the population would increase by 3% each year.

200000 would become 206000 while 206000 would become 212180.

Answer: (d)

Let each equal annual instalment be x.

First instalment is paid after 1 year and hence will remain with the lender for the remaining (4 – 1) = 3 years.

Similarly, second instalment will remain with the lender for 2 years, third instalment for 1 year and the final fourth instalment remain x as such.

A = $A_1 + A_2 + A_3 + A_4$

A = P$({100 + RT}/100)$

⇒ A

= $x [{100 + 5 × 3}/100 + {100 + 5 × 2}/100 + {100 + 5 × 1}/100 + {100 + 5 × 0}/100]$

⇒ 12900

= $x [{115 + 110 + 105 + 100}/100]$

⇒ 12900 = $430/100$ x

⇒ x = ${12900 × 100}/430$

⇒ x = Rs. 3000

Answer: (c)

Simple interest

= ${4000 × 5 × 2}/100$ = Rs. 400

Compound interest

= $4000(1 + 5/100)^2 - 4000$

= ${4000 × 105 × 105}/{100 × 100}$ - 4000

= 4410 – 4000 = Rs. 410

∴ Difference = 410 – 400 = Rs. 10

Answer:(b)

Let P be the principle amount and R be rate of interest.

2P = P + ${P × R × 8}/100$

R = $100/8$ = 12.5%

Answer: (d)

Principal = ${SI × 100}/{R × T} = {57200 × 100}/{11 × 8} = 65000$