Interest Rate: 4% monthly Starting Balance: 124 Time Passed: 4 months How much interest has accrued if calculated as compound interest? What is the new total balance?
Options:
(A) 21 & 145
(B) 22 & 146
(C) 23 & 145
(D) 20 & 140
(E) None
--
Compound Interest: Total Balance = P(1 + R)T P = principle = starting balance = $124 R = interest rate = 4% T = time = 4 years Total balance = principle (1 + interest rate)time = 124 (1 + (4 / 100))4 = 145 Interest accrued = total balance - starting balance = 145 - 124 = 21 So the answer is: (A).
-----
Find the smallest number which should be multiplied with 520 to make it a perfect square.
Options:
(A) 30
(B) 120
(C) 55
(D) 35
(E) None of these
--
520 = 26 * 20 = 2 * 13 * 22 * 5 = 23 * 13 * 5
Required smallest number = 2 * 13 * 5 = 130
130 is the smallest number which should be multiplied with 520 to make it a perfect squar So the answer is: (E).
-----
Find the simple interest on Rs.500 for 9 months at 6 paisa per month?
Options:
(A) 277
(B) 270
(C) 288
(D) 266
(E) 121
--
I = (500*9*6)/100 = 270 So the answer is: (B).
-----