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Home Aptitude Compound Interest Comments

  • Question
  • The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned half yearly is


  • Options
  • A. Rs.2.50
  • B. Rs.3
  • C. Rs.4
  • D. Rs.4.50

  • Correct Answer
  • Rs.3 

    Explanation

    S.I

    = Rs.(1200x10x1/100)

    = Rs.120.

     

    C.I

    = Rs[(1200x1+5/100)² -1200]

    = Rs.123. 

     

    Difference

    = Rs.[123-120]

    = Rs. 3.

  • Tags: GRE

    Compound Interest problems


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    • 1. The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs. 56. Then the sum is :

    • Options
    • A. Rs. 3680
    • B. Rs. 2650
    • C. Rs. 1400
    • D. Rs. 1170
    • Discuss
    • 2. On a sum of money, the simple interest for 2 years is Rs. 660,while the compound interest is Rs.696.30,the rate of interest being the same in both the cases. The rate of interest is

    • Options
    • A. 10%
    • B. 11%
    • C. 12%
    • D. 13%
    • Discuss
    • 3. There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate

    • Options
    • A. Rs.4972
    • B. Rs.3972
    • C. Rs.5972
    • D. Rs.2972
    • Discuss
    • 4. In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?

    • Options
    • A. 1years
    • B. 2years
    • C. 3years
    • D. 4years
    • Discuss
    • 5. The compound interest on a sum of money for 2 years is rs.832 and the simple interest on the same sum for the same period is rs.800 .the difference between the compound interest and simple interest for 3 years

    • Options
    • A. Rs.48
    • B. Rs.66.56
    • C. Rs.98.56
    • D. None of these
    • Discuss
    • 6. Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

    • Options
    • A. 612
    • B. 712
    • C. 812
    • D. 912
    • Discuss
    • 7. The population of a town was 3600 three years back. It is 4800 right now. What will be the population three years down the line, if the rate of growth of population has been constant over the years and has been compounding annually?

    • Options
    • A. Rs.600
    • B. Rs,6400
    • C. Rs.6500
    • D. Rs.6600
    • Discuss
    • 8. Divide Rs. 1301 between A and B, so that the amount of A after 7 years is equal to the amount of B after 9 years, the interest being compounded at 4% per annum.

    • Options
    • A. Rs.625
    • B. Rs.626
    • C. Rs.286
    • D. Rs.627
    • Discuss
    • 9. A man invests Rs.5000 for 3 years at 5% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year

    • Options
    • A. Rs.5624.32
    • B. Rs.5423
    • C. Rs.5634
    • D. Rs.5976
    • Discuss
    • 10. The principal that amounts to Rs.4913 in 3 years at 413 % per annum compound interest compounded annually is

    • Options
    • A. Rs.3096
    • B. Rs.4076
    • C. Rs.4085
    • D. Rs.4096
    • Discuss


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