Ajay Kumar Solutions for Chapter: Numerical Ability, Exercise 7: Practice set

A bank offers a scheme wherein deposits made for $1600$ days are doubled in value, the interest being compounded daily. The interest accrued on a deposit of $Rs. 1000/-$ over the first $400$ days would be Rs.

A certain sum of money becomes $Rs.880$ in two years at $5\%$ rate of simple interest. If the same sum is put on compound interest for the same period and at the same rate of interest, what will be the compound interest?

Two identical sums of money are invested in different banks offering the same rate of interest albeit one at simple interest and the other at compound interest compounded annually. If the difference in the interests earned in the second and third year are $Rs.20$ and $Rs.24$ respectively, find the principal amount and the rate of interest?

Preeti invested a sum of $Rs.15000$ at $9\%$ per annum simple interest and $Rs.12000$ at $8\%$ per annum compound interest for a period of$2$years. What amount of interest did Preeti earn in $2$years?

A necklace is appraised at Rs.$6300$. If the value of the necklace has increased at an annual rate of$7\%$, how much was it worth $15$years ago?

What is the effective annual rate of interest payable half-yearly corresponding to a nominal rate of $6\%$ per annum?

If the interest is payable annually, then the principal amount on which the compound interest for $3$years at $10\%$ per annum is $Rs.331$, is given by:

If the rate of interest be$4\%$ per annum for the first year,$5\%$per annum for the second year and $6\%$ per annum for a third year, then what will be the compound interest of $Rs.10000$ for $3$years?