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Home Aptitude Compound Interest Comments

  • Question
  • Find the time to double your investment at 6%


  • Options
  • A. 10years
  • B. 11years
  • C. 12years
  • D. 13years

  • Correct Answer
  • 12years 

    Explanation

    M=p(1+i)^n

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


    Search Results


    • 1. 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
    • 2. 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
    • 3. 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
    • 4. 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
    • 5. 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
    • 6. 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
    • 7. 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. 17296
    • B. 13296
    • C. 19296
    • D. 15296
    • Discuss
    • 8. The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region?s current population is 100,000, what is the expected population 10 years from now?

    • Options
    • A. 81707
    • B. 91707
    • C. 61707
    • D. 71707
    • Discuss
    • 9. If Rs. 10000 amounts to Rs. 11664 invested in compound interest(compounded annually) for two years then the annual rate of compound interest is

    • Options
    • A. 10%
    • B. 9%
    • C. 8%
    • D. 6%
    • Discuss
    • 10. At what rate of compound interest per annum will a sum of Rs 50000 become Rs 73205 in 2 years?

    • Options
    • A. 21 percent
    • B. 19 percent
    • C. 17 percent
    • D. 15 percent
    • Discuss


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