1.

A sum of money is borrowed and paid back in two annual instalments of Rs.882 each allowing 5% compound interest .The sum borrowed was:

**Answer: Option 'B'**

**Given
The sum borrowed
Present Worth of Rs.882 due 1 year + Present Worth of Rs.882 due 2 year
=> ( 882 ) / 1 + ( 5 / 100)**

2.

Find the simple interest on Rs. 1920 at 45 % per annum for 3 months

**Answer: Option 'B'**

**Given
Principal : 1920
Rate of interest : 45
Number of months : 3
**

3.

Hari lended a sum of Rs.8000 for 20% per annum at compound interest then the sum of the amount will be Rs.13824 is obtained. After how many years he will get that amount?

**Answer: Option 'D'**

**Let Principal = P, Rate = R% per annum, Time = n years
When interest is compounded annually, total amount can be calculated by using the formula
**

4.

Certain loan amount was repaid in two annual installments of Rs.1331/- each. If the rate of interest be 10% per annum Compounded annually the sum borrowed was?

**Answer: Option 'C'**

**Principal = (P.W of Rs. 1331/- due 1 year hence) + (P.W of Rs. 1331/- due 2 years hence)
= [1331/(1 + 10/100) + 1331/(1 + 10/100) ^{2}]
= [1331/(110/100) + 1331/(110/100 × 110/100)]
= 13310/11 + 133100/121 = 1210 + 1100 = Rs.2310/-**

5.

Rs. 10000 is borrowed at compound interest at the rate of 4 % per annum. What will be the amount to be paid after 2 years ?

**Answer: Option 'A'**

**Principal : P = 10000 Rs.
Rate of Interest : r = 4 %
Number of years : n = 2
Amount = P x (1 + r/100)**

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