Discussion
Home ‣ Aptitude ‣ Compound Interest Comments
- Question
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
- Correct Answer
- Rs. 1901
ExplanationP = 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.
- 1. 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% Discuss
- 2. 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
- 3. 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
- 4. 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
- 5. 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
- 6. 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
- 7. 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
- 8. 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
- 9. 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
- 10. A woman invests Rs. 2000 at the start of each year at 5% C.I. per annum. How much will her investments be at the end of the 2nd year?
Options- A. Rs. 4305
- B. Rs. 430
- C. Rs. 4355
- D. Rs. 4350 Discuss
Compound Interest problems
Search Results
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%
Correct Answer: Rs.8820
Explanation:
Amount = =Rs.8820
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: 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: 4 years
Explanation:
> 2P
Now, (6/5 x 6/5 x 6/5 x 6/5) > 2.
So, n = 4 years.
Correct Answer: 11 percent
Correct Answer: Rs.500
Explanation:
Let the sum be Rs. P.
Then,[p(1+10/100)2-p]=525
Sum =Rs.2500
S.I.= Rs.(2500*5*4)/100
= Rs. 500
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
Correct Answer: Rs. 4305
Comments
There are no comments.More in Aptitude:
Programming
Copyright ©CuriousTab. All rights reserved.