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.
Effective CI % for 3 years at 10% = 33.1%. P * 33.1% = 6,620 => $P = 6,620 / 0.331 = Rs 20,000$.

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

Apply the appropriate compound-interest or simple-interest relationship.
27 = $3^3$. Since it becomes 3 times in 4 years, it will become $3^3$ = 27 times in 3 * 4 = 12 years.

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

Apply the appropriate compound-interest or simple-interest relationship.
SI for 1 year = 600. CI for 2 years = 1,200 + 600 * (6/100) = 1,200 + 36 = Rs 1,236.

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

Apply the appropriate compound-interest or simple-interest relationship.
$A/P = 5,832 / 5,000 = 1.1664 = (1.08)^2$. Rate = 8%.

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

Apply the appropriate compound-interest or simple-interest relationship.
Quarterly rate = 5%. Time = 3 quarters. Effective CI = 15.7625%. CI = 32,000 * 15.7625% = Rs 5,044.