Compound Interest Practice Test Set 3

Identify what the question asks and note the relevant values from the question.

Apply the appropriate compound-interest or simple-interest relationship.
CI % = 2100 / 10000 = 21%. For 2 years, 10 + 10 + (10*10)/100 = 21%. Rate = 10%.

Identify what the question asks and note the relevant values from the question.

Apply the appropriate compound-interest or simple-interest relationship.
Half-yearly rate = 5%. Time = 2 half-years. Effective CI = 10.25%. CI = 12,000 * 10.25% = Rs 1,230.

Identify what the question asks and note the relevant values from the question.

Apply the appropriate compound-interest or simple-interest relationship.
Diff = P * (10/100)^2 = 0.01 P. 0.01 P = 65 => $P = Rs 6,500$.

Identify what the question asks and note the relevant values from the question.

Apply the appropriate compound-interest or simple-interest relationship.
Amount = P * (1.1)^3 = 1.331 P = 6,655 => $P = 6,655 / 1.331 = Rs 5,000$.

Identify what the question asks and note the relevant values from the question.

Apply the appropriate compound-interest or simple-interest relationship.
Effective CI % = 8 + 8 + (8*8)/100 = 16.64%. CI = 15,000 * 16.64% = Rs 2,496.