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- Question
Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?
Options- A. Rs.8600
- B. Rs.8830
- C. Rs.8500
- D. Rs.8820
- Correct Answer
- Rs.8820
ExplanationAmount
=Rs.[8000x(1+5/100)²]
= Rs.[8000 x 21/20x21/20]
= Rs.8820.
- 1. If the compound interest on a certain sum at 1623 % to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.
Options- A. 1080
- B. 1090
- C. 1180
- D. 1109 Discuss
- 2. Rs.100 doubled in 5 years when compounded annually. How many more years will it take to get another Rs.200 compound interest
Options- A. 3years
- B. 5years
- C. 6years
- D. 7years Discuss
- 3. The difference between the compound interest and the simple interest accrued on an amount of Rs. 18,000 in 2 years was Rs. 405. What was the rate of interest p.c.p.a. ?
Options- A. 12%
- B. 13%
- C. 14%
- D. 15% Discuss
- 4. The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is ?
Options- A. 3 years
- B. 4 years
- C. 2.5 years
- D. 2 years Discuss
- 5. Sonika invested an amount of Rs.5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.50 at the end of 2 years ?
Options- A. 6.5%
- B. 6%
- C. 5%
- D. 4.5% Discuss
- 6. Find the C.I. on Rs. 15,225 for 9 months at 16% per annum compounded quarterly ?
Options- A. Rs. 1911
- B. Rs. 1909
- C. Rs. 1901
- D. Rs. 1907 Discuss
- 7. At what rate of compound interest per annum will a sum of Rs 50000 become Rs 73205 in 2 years?
Options- A. 21 percent
- B. 19 percent
- C. 17 percent
- D. 15 percent Discuss
- 8. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 1155. The simple interest on the same sum for double the time at half the rate percent per annum is ?
Options- A. Rs. 1100
- B. Rs. 5500
- C. Rs. 1400
- D. Rs. 4120 Discuss
- 9. If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years ?
Options- A. 3387.42
- B. 4387.42
- C. 5387.42
- D. 6387.42 Discuss
- 10. Calculate the amount on Rs. 1875 for 2 year at 4% per annum, compounded yearly.
Options- A. Rs. 676
- B. Rs. 776
- C. Rs. 1778
- D. Rs. 2028 Discuss
Compound Interest problems
Search Results
Correct Answer: 1080
Explanation:
Let the sum be Rs. x. Then,
Thus, the sum is Rs. 2160
Correct Answer: 5years
Explanation:
Rs.100 invested in compound interest becomes Rs.200 in 5 years.
The amount will double again in another 5 years.
i.e., the amount will become Rs.400 in another 5 years.
So, to earn another Rs.200 interest, it will take another 5 years.
Correct Answer: 15%
Explanation:
Let the rate be R% p.a. Then,
Rate = 15%.
Correct Answer: 4 years
Explanation:
> 2P
Now, (6/5 x 6/5 x 6/5 x 6/5) > 2.
So, n = 4 years.
Correct Answer: 5%
Explanation:
C.I =
594.5 =
% .
Correct Answer: Rs. 1901
Explanation:
P = Rs. 15225, n = 9 months = 3 quarters, R = 16% p.a. per quarter.
Amount =
= (15225 x 26/25 x 26/25 x 26/25) = Rs. 17126.05
=> C.I. = 17126 - 15625 = Rs. 1901.05.
Correct Answer: 21 percent
Correct Answer: Rs. 1100
Explanation:
Let the sum be Rs.x. Then,
=> x =5500
sum = Rs. 5500.
So, S.I = Rs. = 1100
Correct Answer: 5387.42
Explanation:
The mathematical formula for calculating compound interest depends on several factors. These factors include the amount of money deposited called the principal, the annual interest rate (in decimal form), the number of times the money is compounded per year, and the number of years the money is left in the bank.
FV = Future value of the Deposit
p = Principal or Amount of Money deposited
r = Annual Interest Rate (in decimal form )
n = No of times compounded per year
t = time in years
= 5387.42
Correct Answer: Rs. 2028
Explanation:
Amount = P(1 + r/100)^t
Amount = 1875(1 + 4/100)^2
Amount = 1875(104/100)(104/100)
Amount = 2028
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