Class VIII

The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
  1. 3
  2. 4
  3. 5
  4. 6
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
  1. Rs. 120
  2. Rs. 121
  3. Rs. 122
  4. Rs. 123
The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
  1. Rs. 2.50
  2. Rs. 3
  3. Rs. 3.75
  4. . Rs. 4
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
  1. 6.06%
  2. 6.07%
  3. 6.08%
  4. 6.09%
The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
  1. Rs. 400
  2. Rs. 500
  3. Rs. 600
  4. Rs. 800
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