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This mock test of Test: Simple And Compound Interest Including Annuity - 2 for CA Foundation helps you for every CA Foundation entrance exam.
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QUESTION: 1

If a sum triples in 15 years at simple rate of interest, the rate of interest per annum will be:

Solution:

QUESTION: 2

How much amount is required to be invested every year as to accumulate Rs.6,00,000 at the end of 10 years, if interest is compounded annually at 10% rate of interest

[Given: (1.1)^{10} = 2.59374.]

Solution:

QUESTION: 3

A sum of money compounded annually becomes Rs1,140 in two years and Rs.1,710 in three years. Find the rate of interest per annum.

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QUESTION: 4

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

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QUESTION: 5

The S.I. on a sum of money is $\frac{4}{9}$ of the principle and the no. of year is equal to the rate of interest per annum. Find the rate of interest per annum?

Solution:

QUESTION: 6

How much investment is required to yield an Annual income of Rs.420 at 7% p.a. Simple interest.

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QUESTION: 7

The difference between compound and simple interest on a certain sum of money for 2 years at 4% is Rs.1. The sum (in Rs) is:

Solution:

QUESTION: 8

The partners A and B together lent Rs.3,903 at 4% per annum interest compound annually. After a span of 3 years, A gets the same amount as B gets after 9 years. The share of A in the sum of Rs.3,903 would have been:

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QUESTION: 9

If the Simple Interest on Rs.1,400 for 3 years is less than the simple interest on Rs.1,800 for the same period by Rs.80, then the rate of interest is

Solution:

QUESTION: 10

In what time will a sum of money double its y at 6.25% p.a. simple interest?

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QUESTION: 11

Simple interest on Rs.2,000 for 5 months at 16% p.a. is__________.

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QUESTION: 12

What principle will amount to Rs.370 in 6 years at 8% p.a. at simple interest?

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QUESTION: 13

On what sum difference between compound interest and simple interest for two years at 7% p.a. interest is Rs.29.4

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QUESTION: 14

Mr. X invests Rs.90,500 in post office at 7.5% p.a. simple interest. While calculating the rate was wrongly taken as 5.7% p.a.The difference in amounts at maturity is Rs.9,774. Find the period for which the sum was invested

Solution:

QUESTION: 15

A sinking fund is created for redeming debentures worth Rs. 5 lakhs at the end of 25 years. How much provision needs to be made out of profits each year provided sinking fund investments can earn interest at 4% p.a.?

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QUESTION: 16

A machine costs Rs. 520000 with an estimated life of 25 years. A sinking fund is created to replace it by a new model at 25% higher cost after 25 years with a scrap value realization of Rs. 25000. What amount should be set aside every year if the sinking fund investments accumulate at 3.5% compound interest p.a.?

Solution:

QUESTION: 17

Johnson left Rs. 100000 with the direction that it should be divided in such a way that his minor sons Tom, Dick and Harry aged 9, 12 and 15 years should each receive equally after attaining the age 25 years. The rate of interest being 3.5%, how much each son receive after getting 25 yeas old?

Solution:

QUESTION: 18

A machine worth Rs. 490740 is depreciated at 15% on its opening value each year. When its value would reduce to Rs. 200000?

Solution:

QUESTION: 19

A machine depreciates at 10% of its value at the beginning of a year. The cost and scrap value realized at the time of sale being Rs. 23240 and Rs. 9000 respectively. For how many years the machine was put to use?

Solution:

QUESTION: 20

In how many years will a sum of money double at 5% p.a. compound interest?

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QUESTION: 21

In how many years a sum of money trebles at 5% p.a. compound interest payable on half yearly basis?

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QUESTION: 22

A machine worth Rs. 490740 is depreciated at 15% of its opening value each year. When its value would reduce by 90?

Solution:

QUESTION: 23

If the difference of S.I. and C.I. is Rs. 72 at 12% for 2 years. Calculate the amount.

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QUESTION: 24

If a simple interest on a sum of money at 6% p.a.for 7 years is equal to twice of simple interest on another sum for 9 years at 5% p.a.. The ratio will be:

Solution:

QUESTION: 25

Appu retires at 60 years receiving a pension of 14400 a year paid in half-yearly installments for rest of his life after reckoning his life expectation to be 13 years and that interest at 4% p.a. is payable half-yearly. What single sum is equivalent to his pension?

Solution:

QUESTION: 26

Raja aged 40 wishes his wife Rani to have Rs. 40 lakhs at his death. If his expectation of life is another 30 years and he starts making equal annual investments commencing now at 3% compound interest p.a. how much should he invest annually?

Solution:

QUESTION: 27

The present value of Rs. 10000 due in 2 years at 5% p.a. compound interest when the interest is paid on yearly basis is Rs. ________.

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QUESTION: 28

Alibaba borrows R.s 6 lakhs Housing Loan at 6% repayable in 20 annual installments commencing at the end of the first year. How much annual payment is necessary.

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QUESTION: 29

The present value of Rs. 10000 due in 2 years at 5% p.a. compound interest when the interest is paid on half-yearly basis is Rs. __________.

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QUESTION: 30

If A=Rs. 10000, n=18 yrs., R=4% p.a. C.I, P will be

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QUESTION: 31

If P = 1000, n = 4yrs., R = 5% p.a. then C.I will be

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QUESTION: 32

The difference between compound and simple interest at 5% per annum for 4 years. On Rs. 20000 is Rs. _________

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QUESTION: 33

The time in which a sum of money will be double at 5% p.a. C.I is

Solution:

QUESTION: 34

The time by which a sum of money would treble it self at 8% p.a. C.I is

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QUESTION: 35

A person bought a house paying Rs. 20000 cash down and Rs. 4000 at the end of each year for 25 yrs. At 5% p.a. C.I. The cash down price is

Solution:

QUESTION: 36

The present value of an annuity of Rs. 80 a years for 20 years at 5% p.a. is

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QUESTION: 37

The compound interest on half-yearly rests on Rs. 10000 the rate for the first and second years being 6% and for the third years 9% p.a. is Rs. ___________.

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QUESTION: 38

A person desires to create a fund to be invested at 10% CI per annum to provide for a prize of Rs. 300 every year. Using V=a/I find V and V will be

Solution:

QUESTION: 39

Mr. X borrowed R.s 5120 at 12 ½ % p.a C.I.At the end of 3 yrs, the money was repaid along with the interest accrued. The ammount of interest paid by him is

Solution:

QUESTION: 40

A = Rs. 5200, R = 5% p.a., T = 6 years, P will be

Solution:

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