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Home Aptitude Compound Interest Comments

  • Question
  • Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest ?


  • Options
  • A. 20% p.a
  • B. 15% p.a
  • C. 18% p.a
  • D. 24% p.a

  • Correct Answer
  • 20% p.a 

    Explanation

    Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.

    Rate of interest = (100 x 240) / (1200) = 20% p.a

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

    Compound Interest problems


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    • 1. There is 50% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate ?

    • Options
    • A. Rs. 5422
    • B. Rs. 5489
    • C. Rs. 3972
    • D. Rs. 6145
    • Discuss
    • 2. A five-year promissory note with a face value of $3500, bearing interest at 11% compounded semiannually, was sold 21 months after its issue date to yield the buyer 10% compounded quarterly.What amount was paid for the note

    • Options
    • A. 4336.93
    • B. 5336
    • C. 6336
    • D. 7336
    • Discuss
    • 3. $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
    • 4. 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
    • 5. 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
    • 6. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 12% per annum is Rs 900. What is the value of given sum (in Rs)?

    • Options
    • A. 125000
    • B. 250000
    • C. 62500
    • D. 187500
    • Discuss
    • 7. At what rate of compound interest per annum will a sum of Rs 20000 become Rs 23328 in 2 years?

    • Options
    • A. 8 percent
    • B. 16 percent
    • C. 24 percent
    • D. 12 percent
    • Discuss
    • 8. On a certain principal if the simple interest for two years is Rs 1400 and compound interest for the two years is Rs 1449, what is the rate of Interest?

    • Options
    • A. 7 percent
    • B. 3.5 percent
    • C. 14 percent
    • D. 10 percent
    • Discuss
    • 9. If the difference between the compound interest and the simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is

    • Options
    • A. Rs. 2000
    • B. Rs. 4000
    • C. Rs. 6000
    • D. Rs. 8000
    • Discuss
    • 10. Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually

    • Options
    • A. Rs.512
    • B. Rs.515
    • C. Rs.612
    • D. Rs.522
    • Discuss


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