Discussion
Home ‣ Aptitude ‣ Compound Interest Comments
- Question
How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years?
Options- A. 9007
- B. 4007
- C. 7007.08
- D. 8oo7
- Correct Answer
- 7007.08
ExplanationFV=P(1+r/n)^nt
- 1. If you deposit $6500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years?
Options- A. 11358.24
- B. 12334
- C. 15789
- D. 12386 Discuss
- 2. 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
Options- A. I alone sufficient while II alone not sufficient to answer
- B. alone sufficient while I alone not sufficient to answer
- C. Both I and II are not sufficient to answer
- D. Both I and II are necessary to answer Discuss
- 3. The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money?
Options- A. Rs.7200
- B. Rs.9600
- C. Rs.16400
- D. Rs.8400 Discuss
- 4. The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is
Options- A. Rs.2
- B. Rs.3
- C. Rs.4
- D. Rs.5 Discuss
- 5. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time
Options- A. Rs.51.25
- B. Rs.61.25
- C. Rs.51
- D. Rs.42 Discuss
- 6. You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.
Options- A. 309
- B. 409
- C. 609
- D. 509 Discuss
- 7. 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?
Options- A. 424.36
- B. 524.56
- C. 545.36
- D. 456.36 Discuss
- 8. 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?
Options- A. 346.64
- B. 356.64
- C. 366.64
- D. 376.64 Discuss
- 9. Find the annual interest rate that produces $100,000 from $20,000 in 15 years.
Options- A. 9.33%
- B. 10.33%
- C. 11.33%
- D. 12.33% Discuss
- 10. Calculate the effective interest rate compounded quarterly of a 13% annual rate.
Options- A. 13.65%
- B. 14.665%
- C. 15.65%
- D. 16.65% Discuss
Compound Interest problems
Search Results
Correct Answer: 11358.24
Explanation:
FV=P(1+r/n)^nt
Correct Answer: Both I and II are necessary to answer
Explanation:
Given: T = 3 years.
I. gives: R = 8% p.a.
II. gives: S.I. = Rs. 1200.
Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.
Difference between C.I. and S.I. may be obtained.
So, the correct answer is (D).
Correct Answer: Rs.16400
Correct Answer: Rs.3
Explanation:
S.I. = Rs.(1200*10*1)/100=rs.120
C.I. =rs[1200*(1+5/100)2-1200]=rs.123
Difference = Rs.(123-120) =Rs.3
Correct Answer: Rs.51.25
Explanation:
Sum = Rs.(50*100)/2*5=Rs.500
Amount=Rs.[500*(1+5/100)2]
= Rs. 551.25
C.I = Rs.(551.25-500)= Rs.51.25
Correct Answer: 309
Explanation:
A = P + Prt
Correct Answer: 424.36
Explanation:
I=Prt
I=12
Balance = P +Prt
412
Find the balance at the end of the second year.
I = Prt=12.36
Balance =P + Prt
424.36
Correct Answer: 366.64
Explanation:
A=P(1+r)^t
Correct Answer: 11.33%
Explanation:
l=(F/P)^1/n-1
Correct Answer: 13.65%
Explanation:
E=(1+i/n)^n-1
Comments
There are no comments.More in Aptitude:
Programming
Copyright ©CuriousTab. All rights reserved.