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Subject: Basic Numeracy

Topic: Compound Interest

1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

(a) 6.10%

(b) 6.11%

(c) 6.08%

(d) 6.09%

2. Mr. Dua invested money in two schemes A and B offering compound interest @ 8 p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two schemes together in two years was Rs.  4818.30 and the total amount invested was Rs. 27,000, what was the amount invested in Scheme A?

(a) Rs.  12,000

(b) Rs.  14,500

(c) Rs.  16,000

(d) cannot be determined

3. A man borrows Rs.  2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly instalments. How much will each instalment be?

(a) Rs.  1275

(b) Rs.  1383

(c) Rs.  1352

(d) Rs.  1287

4. In a factory, the production of cement rises to 2420 tonnes from 2000 tonnes in two years. Find the rate of growth per annum.

(a) 8%

(b) 9%

(c) 10%

(d) 11%

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