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- Question
A bank offers 15% compound interest per half year. A customer deposits Rs 7200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by means of interest is
Options- A. Rs 6803
- B. Rs 850
- C. Rs 3402
- D. Rs 1701
- Correct Answer
- Rs 3402
- 1. The amount received at 10% per annum compound interest after 3 yrs is Rs 10,648. What was the principal (in Rs)?
Options- A. 8000
- B. 9000
- C. 8500
- D. 7500 Discuss
- 2. What is the compound interest earned on Rs 80,000 at 40% per annum in 1 year compounded quarterly?
Options- A. 28317
- B. 37128
- C. 18732
- D. 21387 Discuss
- 3. A sum of money is invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more if interest is compounded half-yearly. The sum
Options- A. Rs.15,000
- B. Rs.30,000
- C. Rs.20,000
- D. Rs.7,500 Discuss
- 4. The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is:
Options- A. 30000
- B. 30300
- C. 3000
- D. 3030 Discuss
- 5. In what time(in years) will Rs. 8000 amount to Rs. 9261 at 5% per annum, compounded annually?
Options- A. 3
- B. 3.5
- C. 4
- D. 4.5 Discuss
- 6. If the amount received at the end of 2nd and 3rd year at compound Interest on a certain Principal is Rs 9,600 and Rs 10,272 respectively, what is the rate of interest (in %)?
Options- A. 7
- B. 8
- C. 6
- D. 5 Discuss
- 7. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.
Options- A. Rs.2522
- B. Rs.2422
- C. Rs.3522
- D. Rs.2322 Discuss
- 8. What is the difference between the compound interests on Rs. 5000 for 112 years at 4% per annum compounded yearly and half-yearly?
Options- A. Rs.3.06
- B. Rs.2.04
- C. Rs.3.65
- D. Rs.5.40 Discuss
- 9. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Options- A. 3years
- B. 2years
- C. 4years
- D. 6years Discuss
- 10. What is the rate of compound interest? I. The principal was invested for 4 years. II. The earned interest was Rs. 1491.
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. Either I or II alone sufficient to answer Discuss
Compound Interest problems
Search Results
Correct Answer: 8000
Correct Answer: 37128
Correct Answer: Rs.30,000
Correct Answer: 3000
Correct Answer: 3
Correct Answer: 7
Correct Answer: Rs.2522
Explanation:
Principal = Rs.16,000;
Time=9 months = 3 quarters;
Amount
=Rs.[16000x(1+5/100)³] =[16000x21/20x21/20x21/20]
= Rs.18522.
C.I
= Rs.(18522 - 16000)
= Rs.2522.
Correct Answer: Rs.2.04
Explanation:
C.I. when interest compounded yearly
=Rs.5034
C.I. when interest iscompounded half-yearly
= Rs. 5306.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04
Correct Answer: 2years
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000*(1+7/100)^n=34347
n= 2 years
Correct Answer: Either I or II alone sufficient to answer
Explanation:
Let Principal = Rs. P and Rate = R% p.a. Then,
Amount=
C.I =
Clearly, it does not give the answer
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