Compound Interest problems
- 1. What periodic payment will an investor receive from a $9000, four-year, monthly payment GIC earning a nominal rate of 5.25% compounded monthly?
Options- A. 29.38
- B. 39.38
- C. 49.38
- D. 59.38 Also asked in: Bank Exams, Bank PO
Correct Answer: 39.38
Explanation:
i=j/m
The monthly payment will be=PV*I
- 2. At what rate of compound interest (in %) per annum will a sum of Rs. 15,000 become Rs. 18,150 in 2 years?
Options- A. 11
- B. 10
- C. 9
- D. 12 Also asked in: Bank Exams
Correct Answer: 10
- 3. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 1,800, and Rs 1,926 respectively, what is the rate of interest?
Options- A. 7.5%
- B. 7%
- C. 6%
- D. 6.5% Also asked in: Bank Exams
Correct Answer: 7%
- 4. A bank offers 15% compound interest per half year. A customer deposits Rs 8800 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is _____.
Options- A. Rs 8315
- B. Rs 2079
- C. Rs 4158
- D. Rs 1039 Also asked in: Bank Exams
Correct Answer: Rs 4158
- 5. The compound interest on Rs. 1000 at 10% per annum for 3 years in (Rs.) is
Options- A. Rs. 1331
- B. Rs. 331
- C. Rs. 300
- D. Rs. 1300 Also asked in: Bank Exams
Correct Answer: Rs. 331
- 6. The amount received at 10% per annum Compound interest after 3 yrs is Rs 5324. What was the principal (in Rs)?
Options- A. 4100
- B. 4200
- C. 4000
- D. 4300 Also asked in: Bank Exams
Correct Answer: 4000
- 7. The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money?
Options- A. Rs.7200
- B. Rs.9600
- C. Rs.16400
- D. Rs.8400 Also asked in: Bank Exams
Correct Answer: Rs.16400
- 8. If compound interest received on a certain amount in the 3rd year is Rs. 1,240, what will be the compound interest (in Rs) for the 4th year on the same amount at 9% rate of interest?
Options- A. 1245.6
- B. 1521.6
- C. 1351.6
- D. 1220.6 Also asked in: Bank Exams
Correct Answer: 1351.6
- 9. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 1,800, and Rs 1,926 respectively, what is the rate of interest?
Options- A. 7.5%
- B. 7%
- C. 6%
- D. 6.5% Also asked in: Bank Exams
Correct Answer: 7%
- 10. What is the difference (in Rs) between the compound interests on Rs. 4000 for 1 year at 12% per annum compounded yearly and half-yearly?
Options- A. 14.4
- B. 12.4
- C. 10.4
- D. 16.4 Also asked in: Bank Exams
Correct Answer: 14.4
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