Curioustab

Home » Aptitude » Compound Interest

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

8
10
12
14

Correct Answer: 8

Explanation:

[15000*(1+r/100)2-15000]-(15000*r*2)/100=96

Rate=8%

← Previous Question Next Question→

More Questions from Compound Interest

An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200
If you deposit $6500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years?
How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years?
You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.
Simon deposits $400 in an account that pays 3% interest compounded annually. What is the balance of Simon’s account at the end of 2 years?
Jackie deposits $325 in an account that pays 4.1% interest compounded annually. How much money will Jackie have in her account after 3 years?
Find the annual interest rate that produces $100,000 from $20,000 in 15 years.
Calculate the effective interest rate compounded quarterly of a 13% annual rate.
Calculate the effective interest rate of a 10% annual rate compounded continuously.
An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded annually

Discussion & Comments

No comments yet. Be the first to comment!

Join Discussion