Q11
Q11 My cousin lends me Rs.10 lakhs for studying in United States at 8% compound interest per annum, during the course period of 2 years and at 12% per annum after completion of my studies. If I return 50% of the amount which is to be returned on completion of studies, and the remaining after one year, how much interest must I pay him during the whole period in Lakhs?
2 lakhs
2.56 lakhs
2.36 lakhs
3 lakhs
Q12
Q12 A man deposited Rs.40,000 in a bank at 10% per annum interest compounded yearly. Now after two years, the government comes out with a law that any annual interest greater than Rs.2500 will be taxed at the end of the year. Also, the rate of interest is decreased to 8%. How much should the man withdraw now so as, not to pay tax at the end of the year?
25000
24000
18175
17150
Q13
Q13 A bank pays interest @ 8 percent p.a. on a deposit for half a quarter as well as on a deposit for one quarter. A makes a deposit of Rs.25 lakhs for a quarter. B makes a deposit of Rs.25 lakhs for half a quarter, and after maturity reinvests the entire amount for half a quarter. What is B’s gain over A?
200
240
250
175
Q14
Q14 A certain sum becomes 8 times itself in 3 years under compound interest, interest being compounded annually. How many years would the sum takes to become 64 times itself?
6 years
4 years
8 years
5 years
Q15
Q15 The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
3
4
5
6
