2
Q:

Determine the nominal rate of interest if:

The periodic rate is 0.83% per month

A) 7% B) 8%
C) 9% D) 10%

Answer:   D) 10%



Explanation:

j=mi

Subject: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 16854, and Rs 17865.24 respectively, what is the rate of interest?

A) 3 percent B) 12 percent
C) 6 percent D) 10 percent
 
Answer & Explanation Answer: C) 6 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

2 693
Q:

A bank offers 20% compound interest calculated on half year basis. A customer deposits Rs 9200 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

A) Rs 11776 B) Rs 2944
C) Rs 1472 D) Rs 5888
 
Answer & Explanation Answer: D) Rs 5888

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

2 862
Q:

A bank offers 20% compound interest per half year. A customer deposits Rs 2800 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 ______.

A) Rs 3584 B) Rs 896
C) Rs 1792 D) Rs 448
 
Answer & Explanation Answer: C) Rs 1792

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 857
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 32448 and Rs 33745.92 respectively, what is the rate of interest?

A) 2 percent B) 8 percent
C) 6 percent D) 4 percent
 
Answer & Explanation Answer: D) 4 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 638
Q:

A bank offers 10% compound interest per half year. A customer deposits Rs. 5200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have profit by way of interest is:

A) Rs 3224 B) Rs 1612
C) Rs 806 D) Rs 403
 
Answer & Explanation Answer: B) Rs 1612

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 2506
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate of interest?

A) 10 percent B) 5 percent
C) 20 percent D) 16 percent
 
Answer & Explanation Answer: A) 10 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 788
Q:

The compound interest earned in two years at 12% per annum is Rs 10176. What is the sum (in Rs) invested?

A) 50000 B) 60000
C) 40000 D) 80000
 
Answer & Explanation Answer: C) 40000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 904
Q:

What is the rate of interest (in %) if simple interest earned on a certain sum for the 3rd year is Rs 2,000 and compound interest earned in 2 years is Rs 4,160?

A) 8 B) 10
C) 12 D) 6
 
Answer & Explanation Answer: A) 8

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 1124