logo

CuriousTab

CuriousTab

Discussion


Home Aptitude Compound Interest Comments

  • Question
  • 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

  • Correct Answer
  • 309 

    Explanation

    A = P + Prt

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


    Search Results


    • 1. 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
    • 2. 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
    • Discuss
    • 3. 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
    • 4. 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
    • 5. 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
    • 6. 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
    • 7. 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
    • 8. 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
    • 9. Calculate the effective interest rate compounded quarterly of a 13% annual rate.

    • Options
    • A. 13.65%
    • B. 14.665%
    • C. 15.65%
    • D. 16.65%
    • Discuss
    • 10. Calculate the effective interest rate of a 10% annual rate compounded continuously.

    • Options
    • A. 9.52%
    • B. 10.52%
    • C. 11.52%
    • D. 12.52%
    • Discuss


    Comments

    There are no comments.

Enter a new Comment