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1.  
The difference between CI and SI on a sum for 3 years at 10% per annum is ₹ 93. The sum is:

Correct Answer: E [₹ 3,000]

Explanation:

P × 0.01 × 3.1 = 93 → P = ₹ 3,000.

2.  
A sum amounts to ₹ 8,820 in 2 years and ₹ 9,261 in 3 years at compound interest. The sum is:

Correct Answer: C [₹ 8,000]

Explanation:

441/8,820 = 5% → P = 8,820/1.1025 = ₹ 8,000.

3.  
A loan at 10% per annum compound interest is repaid in three equal annual instalments of ₹ 14,641 each. The loan was:

Correct Answer: B [₹ 36,410]

Explanation:

14,641/1.1 + 14,641/1.21 + 14,641/1.331 = 13,310 + 12,100 + 11,000 = ₹ 36,410.

4.  
₹ 24,600 is divided into two parts. One part is lent at 10% simple interest and the other at 10% compound interest, both for 2 years, and the two interests are equal. The part lent at simple interest is:

Correct Answer: D [₹ 12,600]

Explanation:

0.2x = 0.21(24,600 − x) → 0.41x = 5,166 → x = ₹ 12,600.

5.  
The difference between the compound interest on ₹ 50,000 at 20% per annum for 1 year compounded half-yearly and compounded annually is:

Correct Answer: B [₹ 500]

Explanation:

Half-yearly: 50,000 × 1.21 = 60,500; annually: 60,000 → ₹ 500.

6.  
Quantity I: the number of years in which a sum becomes 4 times itself at 25% per annum simple interest
Quantity II: the number of years in which a sum becomes 16 times itself at compound interest, if it doubles in 4 years

Correct Answer: B [Quantity I < Quantity II]

Explanation:

I: RT = 300 → 12 years. II: 16 = 2⁴ → 16 years.

7.  
The compound interest on ₹ 15,000 for 2 years is ₹ 2,496. The rate of interest per annum is:

Correct Answer: C [8%]

Explanation:

Amount 17,496 = 15,000 × 1.1664 = 15,000 × 1.08² → 8%.

8.  
On a certain sum, the simple interest for 2 years is ₹ 3,600 and the compound interest for 2 years at the same rate is ₹ 3,780. The sum is:

Correct Answer: A [₹ 18,000]

Explanation:

Yearly SI 1,800; extra 180 = R% of 1,800 → R = 10% → P = 1,800/0.1 = ₹ 18,000.

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