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Home Aptitude Compound Interest Comments

  • Question
  • If you deposit $6500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years?


  • Options
  • A. 11358.24
  • B. 12334
  • C. 15789
  • D. 12386

  • Correct Answer
  • 11358.24 

    Explanation

    FV=P(1+r/n)^nt

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


    Search Results


    • 1. An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? I. The rate of interest was 8 p.c.p.a. II. The total amount of simple interest was Rs. 1200

    • Options
    • A. I alone sufficient while II alone not sufficient to answer
    • B. alone sufficient while I alone not sufficient to answer
    • C. Both I and II are not sufficient to answer
    • D. Both I and II are necessary to answer
    • Discuss
    • 2. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

    • Options
    • A. 8
    • B. 10
    • C. 12
    • D. 14
    • Discuss
    • 3. The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is

    • Options
    • A. Rs.2
    • B. Rs.3
    • C. Rs.4
    • D. Rs.5
    • Discuss
    • 4. 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.61.25
    • C. Rs.51
    • D. Rs.42
    • Discuss
    • 5. 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
    • 6. How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years?

    • Options
    • A. 9007
    • B. 4007
    • C. 7007.08
    • D. 8oo7
    • Discuss
    • 7. You deposit $300 in a savings account that pays 4% simple annual interest. Find your account balance after 9 months.

    • Options
    • A. 309
    • B. 409
    • C. 609
    • D. 509
    • Discuss
    • 8. Simon deposits $400 in an account that pays 3% interest compounded annually. What is the balance of Simon?s account at the end of 2 years?

    • Options
    • A. 424.36
    • B. 524.56
    • C. 545.36
    • D. 456.36
    • Discuss
    • 9. Jackie deposits $325 in an account that pays 4.1% interest compounded annually. How much money will Jackie have in her account after 3 years?

    • Options
    • A. 346.64
    • B. 356.64
    • C. 366.64
    • D. 376.64
    • Discuss
    • 10. Find the annual interest rate that produces $100,000 from $20,000 in 15 years.

    • Options
    • A. 9.33%
    • B. 10.33%
    • C. 11.33%
    • D. 12.33%
    • Discuss


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