A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.482 more, if the interest was payable half yearly than if it was payable annually . The sum is

A) 10000 | B) 20000 |

C) 40000 | D) 50000 |

Explanation:

Let sum=Rs.x

C.I. when compounded half yearly =

C.I. when compounded annually =

=> x=20000

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Subject: Compound Interest - Quantitative Aptitude - Arithmetic AbilityExam Prep: Bank Exams

Job Role: Bank PO

A sum of money amounts to Rs.6690 after 3 years and to Rs.10,035 after 6 years on compound interest.find the sum.

A) 4360 | B) 4460 |

C) 4560 | D) 4660 |

Explanation:

Let the sum be Rs.P.then

P(1+R/100)^3=6690…(i) and P(1+R/100)^6=10035…(ii)

On dividing,we get (1+R/100)^3=10025/6690=3/2.

Substituting this value in (i),we get:

P*(3/2)=6690 or P=(6690*2/3)=4460

Hence,the sum is rs.4460.

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Subject: Compound Interest - Quantitative Aptitude - Arithmetic AbilityExam Prep: Bank Exams

Job Role: Bank PO

What is the rate of interest p.c.p.a.?

I. An amount doubles itself in 5 years on simple interest.

II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.

III. Simple interest earned per annum is Rs. 2000

A) I only | B) II and III only |

C) All I, II and III | D) I only or II and III only |

Explanation:

Thus I only or (II and III) give answer.

Correct answer is (D)

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Subject: Compound Interest - Quantitative Aptitude - Arithmetic AbilityExam Prep: Bank Exams

Job Role: Bank PO

What annual payment will discharge a debt of Rs.7620 due in 3years at % per annum interest?

A) 5430 | B) 4430 |

C) 3430 | D) 2430 |

Explanation:

Let each installment be Rs.x. Then,

(P.W. of Rs.x due 1 year hence) + (P.W of Rs.x due 2 years hence) + (P.W of Rs. X due 3 years hence) = 7620.

Amount of each installment = Rs.3430

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Subject: Compound Interest - Quantitative Aptitude - Arithmetic AbilityExam Prep: Bank Exams

Job Role: Bank PO

The population of a town was 3600 three years back. It is 4800 right now. What will be the population three years down the line, if the rate of growth of population has been constant over the years and has been compounding annually?

A) Rs.600 | B) Rs,6400 |

C) Rs.6500 | D) Rs.6600 |

Explanation:

The population grew from 3600 to 4800 in 3 years. That is a growth of 1200 on 3600 during three year span.

Therefore, the rate of growth for three years has been constant.

The rate of growth during the next three years will also be the same.

Therefore, the population will grow from 4800 by = 1600

Hence, the population three years from now will be 4800 + 1600 = 6400

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Subject: Compound Interest - Quantitative Aptitude - Arithmetic AbilityExam Prep: Bank Exams

Job Role: Bank PO