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Home Aptitude Compound Interest Comments

  • Question
  • The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is


  • Options
  • A. 6.06%
  • B. 6.07%
  • C. 6.08%
  • D. 6.09%

  • Correct Answer
  • 6.09% 

    Explanation

    Amount of Rs. 100 for 1 year

    when compounded half-yearly = Rs.[100*(1+3/100)^2]=Rs.106.09

    Effective rate=(106.09-100)%=6.09%

     

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


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    • 1. 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.8820
    • B. Rs.8620
    • C. Rs.8520
    • D. Rs.8320
    • 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 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
    • 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 10000 become Rs 12321 in 2 years?

    • Options
    • A. 22 percent
    • B. 11 percent
    • C. 7 percent
    • D. 15 percent
    • Discuss
    • 8. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is

    • Options
    • A. Rs.4000
    • B. Rs.500
    • C. Rs.600
    • D. Rs.800
    • 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


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