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### Mathematical Skills | Simple Interest and Compound Interest

 Q. No. 13: A owes B Rs 1573, payable 3/2 year hence. Also B owes A Rs 1,444.50, payable 6 months hence. If they want to settle the account forthwith, keeping 14% as the rate of interest, then who should pay whom and how much? A : A to B , Rs 45 B : B to A, Rs 45 C : A to B, Rs 50 D : B to A, Rs 50 Solution
 Q. No. 14: Consider the following statementsIf a sum of money is lent at simple interest, then theI). Money gets doubled in 5 year if the rate of interest is 50/3 %.II). Money gets double in 5 year if the rate of interest in 20%.III). Money becomes four times in 10 year if it gets doubled in 5 year.Of these statements A : I and III are correct B : II alone is correct C : II alone is correct D : II and III are correct. Solution
 Q. No. 15: A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will becomes 8 times in three years. If the same amount is deposited at the same compound rate of interest, then in how many years will it become 16 times? A : 5 year B : 6 year C : 4 year D : 7 year Solution
 Q. No. 16: A certain sum of money at compound interest grows upto Rs 6560 in 3 year and upto 7216 in 4 year. The rate percent per annum will be A : 10% B : 5% C : 8% D : 6% Solution
 Q. No. 17: A certain sum is invested for certain time. It amounts to Rs 450 at 7% per annum. But when invested at 5% per annum, it amounts to Rs 350. The time is A : 50 year B : 60 year C : 45 year D : 40 year Solution
 Q. No. 18: A sum of money becomes five times at simple rate of 8% per annum. At what rate percent will it become seven fold? A : 6% B : 10% C : 12% D : 14% Solution
 Simple Interest and Compound Interest Easy Moderate Difficult