Simple & Compound Interest Level-2 Quiz-2

1. The value of an electronic device depreciates at the rate of 5% per annum. If its present value is Rs.32,490, what was its value two years ago? (in Rs.)

2. A sum was lent for an year, another sum was lent for 2 years and a third sum was lent for 3 years. Each sum was lent at 8% p.a. compound interest. Each sum amounted to the same value. The ratio of the first, second and third sums is?

3. A sum was lent at a certain rate of compound interest. It amounted to Rs.15,600 at the end of 4 years and to Rs.18,720 at the end of 8 years. Find the sum (in Rs.).

4. Find the present worth of Rs.1,749.60 due in 2 years at 8% p.a. compound interest.

5. A total of Rs. p is lent out to three people at simple interest at the rates of 10% p.a., 20% p.a. and 14% p.a., for 6 years, 5 years and 2 years respectively such that the amount received from each of them is Rs.6,400. Find the value of p.

6. Under simple interest, due to the fall in the interest rate by 0.5 percentage point, my yearly income from savings came down by Rs.884. Find the savings (in Rs.).

7. The compound interest on a certain sum for the third year and the fourth year is Rs.1,815 and Rs.1,996.50 respectively. What is the rate of interest per annum?

8. The difference between the compound interest, interest being compounded annually and the simple interest for two years on the same sum and at the same rate of interest is Rs.25.60. Find the sum (in Rs.) if the rate of interest is 8% p.a.

9. A person borrowed Rs.1,000 at the rate of 10% per annum simple interest. What is the amount he has to pay after 5 years to clear the debt?

10. A person invested Rs.p at a certain rate of simple interest. After 1, 2 and 3 years, it amounted to Rs.3/2p, Rs.2p, Rs.5/2p respectively. What will it amount to at the end of 20 years?