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  • Question
  • Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Albert get on maturity of the fixed deposit ?


  • Options
  • A. Rs. 8840
  • B. Rs. 8800
  • C. Rs. 8810
  • D. None

  • Correct Answer
  • None 

    Explanation

    Amount =  8000 1 + 5 100 2

     

    = 8000 x 21/20 x 21/20 

     

    = Rs. 8820

  • Tags: GATE, CAT, Bank Exams, AIEEE, Bank PO, Bank Clerk

    Compound Interest problems


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    • 1. Find the principal if the interest compounded at the rate of 10% per annum for two years is Rs. 420 ?

    • Options
    • A. Rs. 2000
    • B. Rs. 2100
    • C. Rs. 1900
    • D. Rs. 2150
    • Discuss
    • 2. At 3% annual interest compounded monthly, how long will it take to double your money?

    • Options
    • A. 20.1
    • B. 21.1
    • C. 22.1
    • D. 23.1
    • Discuss
    • 3. Mr. Gupta borrowed a sum of money on compound interest. What will be the amount to be repaid if he is repaying the entire amount at the end of 2 years? I. The rate of interest is 5 p.c.p.a. II. Simple interest fetched on the same amount in one year is Rs. 600. III. The amount borrowed is 10 times the simple interest in 2 years.

    • Options
    • A. .I only
    • B. III only
    • C. I or II
    • D. II and Either I or III only
    • Discuss
    • 4. What will Rs.1500 amount to in three years if it is invested in 20% p.a. compound interest, interest being compounded annually?

    • Options
    • A. Rs.2592
    • B. Rs.2492
    • C. Rs.2352
    • D. Rs.2352
    • Discuss
    • 5. If a sum of Rs.12500 is invested for 1 year at 12% per annum interest being compounded semi-annually, then interest earned is

    • Options
    • A. Rs.1505
    • B. Rs.1535
    • C. Rs.1545
    • D. Rs.1550
    • Discuss
    • 6. An article costs Rs 50 presently. The rate of inflation is 300%. What will be cost of this article after two years?

    • Options
    • A. Rs 200
    • B. Rs 600
    • C. Rs 800
    • D. Rs 1000
    • Discuss
    • 7. What is the least number of complete years in which a sum of money put out at 40% annual compound interest will be more than trebled?

    • Options
    • A. 3
    • B. 4
    • C. 5
    • D. 6
    • Discuss
    • 8. What would be the least number of years in which the simple interest on Rs.2600 at % will be an exact number of rupees ?

    • Options
    • A. 2
    • B. 3
    • C. 4
    • D. 5
    • Discuss
    • 9. If you deposit $8000 into an account paying 7% annual interest compounded quarterly, how long until there is $12400 in the account?

    • Options
    • A. 2.3
    • B. 3.3
    • C. 4.3
    • D. 6.3
    • Discuss
    • 10. $10,000 face value strip bond has 15 years remaining until maturity. If the prevailing market rate of return is 6.5% compounded semiannually, what is the fair market value of the strip bond?

    • Options
    • A. 1710.29
    • B. 2710.29
    • C. 3710.29
    • D. 4710.29
    • Discuss


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