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Home Aptitude Compound Interest Comments

  • Question
  • If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.


  • Options
  • A. Rs.1251
  • B. Rs.1261
  • C. Rs.1271
  • D. Rs,1281

  • Correct Answer
  • Rs.1261 

    Explanation

    Clearly, Rate = 5% p.a .,

    Time = 3 years

    S.I =Rs.1200.

    So,Principal

    =Rs.(100 x 1200/3x5)

    =Rs.8000.

     

    Amount

    =Rs.[8000 x (1+5/100)³]

    =Rs(8000x21/20x21/20x21/20)

    = Rs.9261

     

    C.I

    =Rs.(9261-8000)

    =Rs.1261.

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


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    • 1. The compound interest earned in two years at 12% per annum is Rs 10176. What is the sum (in Rs) invested?

    • Options
    • A. 50000
    • B. 60000
    • C. 40000
    • D. 80000
    • Discuss
    • 2. The compound interest on Rs. 24000 at 10% per annum for 11?2 years, interest being compounded semiannually is

    • Options
    • A. Rs.3783
    • B. Rs.3777
    • C. Rs.3780
    • D. Rs.3781
    • Discuss
    • 3. What would be the compound interest of Rs. 25000 for 2 yrs. at 5% per annum?

    • Options
    • A. 2500
    • B. 2562.5
    • C. 2425.25
    • D. 5512.5
    • Discuss
    • 4. If compound interest received on a certain amount in the 2nd year is Rs 1200, what will be the compound interest (in Rs) for the 4th year on the same amount at 10% rate of interest?

    • Options
    • A. 1452
    • B. 1320
    • C. 1552
    • D. 1420
    • Discuss
    • 5. The compound interest earned in two years at 15% per annum is Rs 20640. What is the sum invested (in Rs)?

    • Options
    • A. 64000
    • B. 60000
    • C. 56000
    • D. 52000
    • Discuss
    • 6. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is

    • Options
    • A. 2years
    • B. 3years
    • C. 4years
    • D. 5years
    • Discuss
    • 7. What will be compounded amount? I. Rs. 200 was borrowed for 192 months at 6% compounded annually. II. Rs. 200 was borrowed for 16 years at 6%.

    • Options
    • A. I alone sufficient while II alone not sufficient to answer
    • B. II alone sufficient while I alone not sufficient to answer
    • C. Either I or II alone sufficient to answer
    • D. Both I and II are not sufficient to answer
    • Discuss
    • 8. Find the effective rate of interest for an investment that earns 5 1/2% per year, compounded continuously

    • Options
    • A. 5.65%
    • B. 5.75%
    • C. 5.85%
    • D. 5.95%
    • Discuss
    • 9. Josh borrowed $250 from his mother to buy an electric scooter. Josh will pay her back in 1 year with 3% simple annual interest. How much interest will Josh pay?

    • Options
    • A. 7.50
    • B. 8.50
    • C. 9.50
    • D. 10.50
    • Discuss
    • 10. The effective annual rate of interest corresponding to nominal rate of 6% per annum payable half yearly is

    • Options
    • A. 5%
    • B. 6%
    • C. 7%
    • D. 6.09%
    • Discuss


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