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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. In how many years will Rs 25,000 yield Rs 8,275 as compound interest at 10% per annum compounded annually?
Options- A. 2
- B. 4
- C. 3
- D. 5 Discuss
- 2. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 1,800, and Rs 1,926 respectively, what is the rate of interest?
Options- A. 7.5%
- B. 7%
- C. 6%
- D. 6.5% Discuss
- 3. What is the difference (in Rs) between the compound interests on Rs. 1000 for 1 year at 10% per annum compounded yearly and half-yearly?
Options- A. 1.5
- B. 0.5
- C. 2.5
- D. 3.5 Discuss
- 4. A $1000 face value Series S50 compound interest Canada Savings Bond (CSB) was presented to a credit union branch for redemption.What amount did the owner receive if the redemption was requested on:January 17, 2001?
Options- A. 1206
- B. 1306
- C. 1406
- D. 1506 Discuss
- 5. Determine the nominal rate of interest if: The periodic rate is 1.75% per quarter.
Options- A. 7%
- B. 8%
- C. 9%
- D. 10% Discuss
- 6. If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
Options- A. Rs.1251
- B. Rs.1261
- C. Rs.1271
- D. Rs,1281 Discuss
- 7. The difference between the compound interest and the simple interest on a certain sum at 12% p.a. for two years is Rs.90. What will be the value of the amount at the end of 3 years?
Options- A. 8560
- B. 8673
- C. 8746
- D. 8780.80 Discuss
- 8. If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?
Options- A. 6.9
- B. 7.9
- C. 8.9
- D. 9.9 Discuss
- 9. Calculate the future value of $3,000 invested at 7% for 5 years
Options- A. 4207.66
- B. 5207
- C. 4376
- D. 5687 Discuss
- 10. Assume that money can be invested at 8% compounded quarterly,which is larger,$2500 now or $3800 in 5 years?
Options- A. 1557.29
- B. 2557.29
- C. 2567
- D. 2457 Discuss
Compound Interest problems
Search Results
Correct Answer: 3
Correct Answer: 7%
Correct Answer: 2.5
Correct Answer: 1306
Explanation:
I = ptr
Therefore, the total amount the owner received on January 17, 2001 was
$1295.57 + $10.47 = $1306.04
Correct Answer: 7%
Explanation:
j=mi
Correct Answer: Rs.1261
Explanation:
Clearly, Rate = 5% p.a .,
Time = 3 years
S.I =Rs.1200.
So,Principal
=Rs.(100 x 1200/3x5)
=Rs.8000.
Amount
=Rs.[8000 x (1+5/100)³]
=Rs(8000x21/20x21/20x21/20)
= Rs.9261
C.I
=Rs.(9261-8000)
=Rs.1261.
Correct Answer: 8780.80
Explanation:
when interest is reckoned using compound interest, interest being compounded annually. The difference in the simple interest and compound interest for two years is on account of the interest paid on the first year's interest Hence 12% of simple interest = 90 => simple interest =90/0.12 =750.
As the simple interest for a year = 750 @ 12% p.a., the principal =750/0.12 = Rs.6250.
If the principal is 6250, then the amount outstanding at the end of 3 years = 6250 + 3(simple interest on 6250) + 3 (interest on simple interest) + 1 (interest on interest on interest) = 6250 +3(750) + 3(90) + 1(10.80) = 8780.80.
Correct Answer: 7.9
Explanation:
FV=P(1+r/n)^nt
Correct Answer: 4207.66
Explanation:
F=P(1+i)^n
Correct Answer: 2557.29
Explanation:
First find the present value of $3800,then compare present values:
M = p(1+i/4)^4n
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