model 3 combination of si & ci Practice Questions Answers Test with Solutions & More Shortcuts
compound interest PRACTICE TEST [6 - EXERCISES]
model 1 basic compound interest using formula
model 2 at ci sum becomes ‘n’ times after ‘t’ years
model 3 combination of si & ci
model 4 difference in ci & si
model 5 ci with instalments
model 6 comparing sum in different years
Question : 16 [SSC CPO S.I.2003]
If the compound interest on a sum of money for 3 years at the rate of 5% per annum is Rs.252.20, the simple interest on the same sum at the same rate and for the same time is
a) Rs.250
b) Rs.220
c) Rs.245
d) Rs.240
Answer »Answer: (d)
Using Rule 1,If A = Amount, P = Principal, r = Rate of Compound Interest (C.I.), n = no. of years then,A=P$(1 + r/100)^n$, C.I. = A - PC.I. = P$[(1 + r/100)^n - 1]$
Suppose principal be x
$x((1 + 5/100)^3 - 1) = 252.20$
$x((21/20)^3 - 1)$ = 252.20
$x({21 × 21 × 21 - 20 × 20 × 20}/{20 × 20 × 20})$ = 252.20
$x 1261/8000$ = 252.20
x = ${252.20 × 8000}/1261$ = 1600
SI = ${1600 × 5 × 3}/100$ = Rs.240
Question : 17 [SSC CPO 2016]
On a certain sum of money, the simple interest for 2 years is Rs.350 at the rate of 4% per annum. If it was invested at compound interest at the same rate for the same duration as before, how much more interest would be earned ?
a) Rs.35
b) Rs.3.50
c) Rs.14
d) Rs.7
Answer »Answer: (d)
Principal = $\text"S.I. × 100"/\text"Time × Rate"$
= ${350 × 100}/{2 × 4}$ = Rs.4375
Difference = ${PR^2}/10000$
= ${4375 × 4 × 4}/10000$ = Rs.7
Question : 18 [SSC CPO S.I.2004]
The compound interest on a certain sum of money at a certain rate for 2 years is Rs.40.80 and the simple interest on the same sum is Rs.40 at the same rate and for the same time. The rate of interest is
a) 5% per annum
b) 2% per annum
c) 4% per annum
d) 3% per annum
Answer »Answer: (c)
Let the principal be P and rate of interest be r per cent per annum. Then,
C. I = P$[(1 + r/100)^2 - 1]$
40.80 = P$[(1 + r/100)^2 - 1]$...(i)
S.I. = ${P.r.t}/100 ⇒ 40 = {Pr × 2}/100$ ...(ii)
${40.80}/40 = P[(1 + r/100)^2 - 1]/{{2Pr}/100}$ ⇒ 1.02
= $100/{2r}[1 + r^2/10000 + {2r}/100 - 1]$
1.02 = $r/200$ +1
$r/200$ = 1.02 - 1
r = 0.02 × 200 = 4% per annum.
Using Rule 10,
Here, C.I. = Rs.40.80, S.I. = Rs.40, R = ?
C.I.= S.I.$(1 + R/200)$
40.80 = 40$(1 + R/200)$
$4080/4000 = 1 + R/200$
$408/400 = {200 + R}/200$
408 = 400 + 2R
2R = 8 ⇒ R = 4%
Question : 19 [SSC CGL Tier-I 2014]
The compound interest on a certain sum of money at a certain rate per annum for two years is Rs.2,050, and the simple interest on the same amount of money at the same rate for 3 years is Rs.3, 000. Then the sum of money is
a) Rs.25, 000
b) Rs.20,000
c) Rs.21,000
d) Rs.18,000
Answer »Answer: (b)
Using Rule 6,The difference between C.I. and S.I. on a sum 'P' in 2 years at the rate of R% rate of compound interest will beC.I - S.I. = P$(R/100)^2 = {S.I. × R}/200$ For 3 years, C.I. - S.I. = P$(R/100)^2 × (3 + R/100)$
S.I. for 3 years = Rs.3000
S.I. for 2 years = $3000/3 × 2$ = Rs.2000
C.I. - S.I. = 2050 - 2000 = Rs.50
S.I. = ${PR × 3}/100$
PR = ${3000 × 100}/3$ = Rs.100000
Difference = ${P × R^2}/10000$
50 = ${P × (100000)^2}/{10000 × P^2}$
P = $1000000/50$ = Rs.20000
Question : 20 [SSC CPO S.I.2005]
The compound interest on a certain sum of money invested for 2 years at 5% per annum is Rs.328. The simple interest on the sum, at the same rate and for the same period will be
a) Rs.287
b) Rs.320
c) Rs.300
d) Rs.308
Answer »Answer: (b)
Let the principal be P.
C.I. = P$[(1 + R/100)^T - 1]$
328 = P$[(1 + 5/100)^2 - 1]$
328 = P$[441/400 -1]$
328 = P$[{441 - 400}/400]$
P = ${328 × 400}/41$ = Rs.3200
S.I. = ${PRT}/100 = {3200 × 5 × 2}/100$ = Rs.320
Using Rule 10,
Here, C.I. = Rs.328, R = 5%, S.I. = ?
C.I.= S.I.$(1 + R/200)$
328 = S.I.$(1 + 5/200)$
328 = S.I.$(1 + 1/40)$
S.I. = ${328 × 40}/41$
S.I. = 8 x 40 = Rs.320
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model 3 combination of si & ci Shortcuts »
Click to Read...model 3 combination of si & ci Online Quiz
Click to Start..compound interest Shortcuts and Techniques with Examples
-
model 1 basic compound interest using formula
Defination & Shortcuts … -
model 2 at ci sum becomes ‘n’ times after ‘t’ years
Defination & Shortcuts … -
model 3 combination of si & ci
Defination & Shortcuts … -
model 4 difference in ci & si
Defination & Shortcuts … -
model 5 ci with instalments
Defination & Shortcuts … -
model 6 comparing sum in different years
Defination & Shortcuts …
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