Discussion
Home ‣ Aptitude ‣ Compound Interest Comments
- Question
If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?
Options- A. 6.9
- B. 7.9
- C. 8.9
- D. 9.9
- Correct Answer
- 7.9
ExplanationFV=P(1+r/n)^nt
- 1. The difference between the compound interest and simple interest on an amount of Rs.15000 for two years is Rs.96. what is the rate of interest per annum
Options- A. 8
- B. 10
- C. 12
- D. 13 Discuss
- 2. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
Options- A. Rs.51.25
- B. Rs.52
- C. Rs.53
- D. Rs.54 Discuss
- 3. 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.8600
- B. Rs.8830
- C. Rs.8500
- D. Rs.8820 Discuss
- 4. In how many years will Rs 25,000 yield Rs 8,275 as compound interest at 10% per annum compounded annually?
Options- A. 2
- B. 4
- C. 3
- D. 5 Discuss
- 5. A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years does the same amount becomes Rs. 8000.
Options- A. 2
- B. 4
- C. 6
- D. 8 Discuss
- 6. Calculate the future value of $3,000 invested at 7% for 5 years
Options- A. 4207.66
- B. 5207
- C. 4376
- D. 5687 Discuss
- 7. Assume that money can be invested at 8% compounded quarterly,which is larger,$2500 now or $3800 in 5 years?
Options- A. 1557.29
- B. 2557.29
- C. 2567
- D. 2457 Discuss
- 8. The periodic interest rate corresponding to: 9.75% compounded semiannually
Options- A. 4.875
- B. 3.785
- C. 4.865
- D. 4.975 Discuss
- 9. Two payments of $10,000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?
Options- A. 19296
- B. 19396
- C. 19496
- D. 19596 Discuss
- 10. A chartered bank offers a five-year Escalator Guaranteed Investment Certificate.In successive years it pays annual interest rates of 4%, 4.5%, 5%, 5.5%, and 6%, respectively, compounded at the end of each year. The bank also offers regular five-year GICs paying a fixed rate of 5% compounded annually. Calculate and compare the maturity values of $1000 invested in each type of GIC. (Note that 5% is the average of the five successive one-year rates paid on the Escalator GIC.)
Options- A. 1276.28
- B. 1234
- C. 1278
- D. 1256 Discuss
Compound Interest problems
Search Results
Correct Answer: 8
Explanation:
[15000 *(1+r/100)^2-15000]-(15000*r*2)/100=96
r=8
Correct Answer: Rs.51.25
Explanation:
Sum =Rs.(50 x 100/2x5)
= Rs. 500.
Amount
=[Rs.500x(1+5/100)²]
=Rs(500x21/20x21/20).
=Rs. 551.25
C.I
= Rs. (551.25 - 500)
= Rs. 51.25
Correct Answer: Rs.8820
Explanation:
Amount
=Rs.[8000x(1+5/100)²]
= Rs.[8000 x 21/20x21/20]
= Rs.8820.
Correct Answer: 3
Correct Answer: 4
Correct Answer: 4207.66
Explanation:
F=P(1+i)^n
Correct Answer: 2557.29
Explanation:
First find the present value of $3800,then compare present values:
M = p(1+i/4)^4n
Correct Answer: 4.875
Explanation:
i=j/m
Correct Answer: 19296
Explanation:
The single equivalent payment will be PV + FV.
FV = Future value of $10,000, 12 months later
$10,000 *(1.0075)/12
$10,938.07
PV= Present value of $10,000, 24 months earlier
$10,000/(1.0075)24
$8358.31
The equivalent single payment is
$10,938.07 + $8358.31 = $19,296.38
Correct Answer: 1276.28
Explanation:
FV = $1000(1.04)(1.045)(1.05)(1.055)(1.06) = $1276.14
the maturity value of the regular GIC is
FV = $ 1000 x = $1276.28
Comments
There are no comments.More in Aptitude:
Programming
Copyright ©CuriousTab. All rights reserved.