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Simple Interest & Compound Interest

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Godwin Anto
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64 views4 pages

Simple Interest & Compound Interest

Uploaded by

Godwin Anto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Simple Interest & Compound Interest

Simple Interest
1. If a sum of $15,000 is borrowed for 5 years at the rate of 6% per annum, find the simple
intrest and the amount to be paid after 5 yrs. Ans: S.I = $4,500 A= $19,500

2. Preeti took a loan of $1,50,000 for her car at the rate of 9% per annum simple interest
from a bank. She was supposed to repay the amount in 1.5 yrs. Find the amount paid
by Preeti to the bank after 1.5 yrs Ans: S.I =20,250 A = 170250

3. In how much time will the simple Interest on $2500 at the rate of 8% per annum be the
same as the simple interest on $3000 at the rate of 9.75% per annum for 5 yrs.
Ans: T= 7 yrs and 3 months

Compound Interest:
1. What is the Compound interest on $5000 for 3 yrs at 8% per annum?

2. Diksha has taken a loan of $25,000 from a financial firm at 6% per annum for 3 yrs.
What would be the compound interest given by her to the firm after 3 yrs?
3. Mr.Das borrowed $20,000 from Mr.Kumar at the rate of 18% per annum simple interest
for 2 yrs and lent this money to Mr. Sinha at the rate but compounded annually. Find
his gain after 2 yrs. Ans: Rs. 648

4. Sumit invested $6400 at the rate of 10% per annum compounded annually. Find the
interest he got at the end of the 3rd year. Ans: Rs. 2118.40

5. Harsh invested $1,00,000 in a company at 13% per annum compounded annually. Find
the interest he got at the end of the 3rd year. Ans: Rs. 442897

6. A sum of money yield, $2400 as the simple interest calculated at 5% per annum for 3
years. What will be the compound interest on the same sum of money for the same
period and at the same rate of interest? Ans: Rs. 2522

7. What will be the compound interest at the rate of 10% per annum for 3 yrs on a
principal amount, which in 3 yrs gives $1200 as the simple interest at the rate of 4% per
annum? Ans: Rs. 3310
8
Conversion Period: Half-Yearly, Quarterly:

1. Calculate the compound interest on $ 20,000 at 8% per annum for 1 yr if the rate of
interest is compounded half-yearly. Ans: Rs. 1632

2. Find the compound interest on $1000 at the rate of 10% for 1 ½ years when the interest
is compounded half-yearly. Ans: Rs. 157.63

3. Rajsh borrowed a sum of $16,000 from a bank at the rate 10% compounded half-yearly
for 2 years. Find the amount he needs to pay back to the bank. Ans: Rs.19448.1

4. Antony deposited $2,40,000 in a bank for a period of 9 months. The bank credits the
interest quarterly at 10% per annum. What interest did he get at the end of 9 months?
5. How much would a sum of $16,000 amount to in one year at 20% per annum if the
interest is compounded quarterly?
6. Ajmal borrowed $40,000 from a bank for 3 ½ years. The bank charges 12% per annum
compounded annually. Find the interest paid by Ajmal? Ans: Rs. 19473

Inverse Problems on Compound Interest:

1. After how many years will $1000 become $1331 at 10% per annum compound interest?
2. Dinesh borrowed a sum of $20,000 from a finance firm and paid back $26,620 in 3 years.
If the interest is compounded annually, find the rate of interest.
3. The compound interest on a sum of money is $ 512.50 calculated at 5% per annum for 2
years. What is the sum?
4. At what rate of interest compounded annually will $1250 amount to $1800 in 2 years?
5. The difference between the compound interest and the simple interest on a certain sum
of money for 2 years at 15% per annum is $ 180. Find the sum?
6. What sum will become $2025 at 12 ½ % per annum compound interest for 2 years?

Growth and Depreciation


1. The value of a car depreciates at the rate of 15% per year. If the car was bought for
$9,50,000 two years ago, find the present value of the car.
2. A machine is purchased for $6,25,000. Its value depreciates at 8% per year. What
will be its value after 2 years?
3. The present population of a village is 15,625. The annual increase in population is
4% What will be the population of the village after 3 years?
4. A TV set was purchased for $16,000 If the cost of the TV after 2 years depreciates to
$14,440 Find the rate of depreciation.
5. In a certain experiment, the count of bacteria was increasing at the rate of 2.5% per
hour. Initially, the count was 5,12,000. Find the count of bacteria at the end of 2
hrs.
6. Rajan purchased a machine for $16,000. If the cost of the machine is depreciating at
the rate of 5% annum, calculate its value after 2 years.
7. The present value of the car is $80000 and it depreciates at the rate of 10% every
year. What will the value of the car after 2 years from now?
8. In how much time will the population of a town become 1,66,698 from 1,44,000. If
it is increasing at the rate of 5% every year?

9. Find the compound interest on $12,500 for 2 years, if the rate of interestis 15% for
the first year and 16% for the second year.

10. Two years ago, the population of a town was 1,60,000. If it had increased by 3% and
5%. Resply,in the last two years, find the present population of the town.

11. Sachin gives $10,000 to a person at the rate of 20% per annum compounded
annually for 2 years. If the interest is compounded half-yearly, how much more
money could he earn?

12. Find the amount and the interest paid on $10,000, compounded annually, for 3
years if the rate of interest is 10%,12% and 14% for the first,second and third year
resply.

Difference between S.I and C.I

13. THE difference between C.I & S.I on an amount of $15000 for 2 yrs is $96,what is the
rate of interest per annum ?
14. The difference between CI&S,I on a certain sum at 5%per annum for 2 yrs is
RS .1.50,FIND THE SUM.
15. The difference between CI&S,I on a certain sum AT 8 % per annum for 3 yrs is RS
240, find the sum.

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