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Home Aptitude Compound Interest Comments

  • Question
  • 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

  • Correct Answer
  • Either I or II alone sufficient to answer 

    Explanation

     I. Amount =  R s . 200 * 1 + 6 100 16

     

    II. Amount = R s 200 * 1 + 6 100 16

     

    Thus, I as well as II gives the answer.

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


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    • 1. 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
    • 2. 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
    • Discuss
    • 3. 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
    • 4. 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
    • 5. 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
    • 6. 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
    • 7. 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
    • 8. 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
    • 9. Find the time to double your investment at 6%

    • Options
    • A. 10years
    • B. 11years
    • C. 12years
    • D. 13years
    • Discuss
    • 10. Mr. and Mrs. Espedido?s property taxes, amounting to $2450, are due on July 1.What amount should the city accept if the taxes are paid eight months in advance and the city can earn 6% compounded monthly on surplus funds?

    • Options
    • A. 2354.17
    • B. 2354
    • C. 2376
    • D. 2389
    • Discuss


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