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:

A sum of Rs 6000 becomes Rs 7200 in 2 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 3 years?

 

A) 7434   B) 8244  
C) 7864   D) 7986
 
Answer & Explanation Answer: D) 7986

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Exam Prep: Bank Exams

4 486
Q:

A sum of Rs 8000 is borrowed at compound interest at the rate of 7% per annum. What will be the amount (in Rs) after 2 years?

 

A) 1154.4   B) 13600  
C) 9159.2   D) 9428.6
 
Answer & Explanation Answer: C) 9159.2  

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Exam Prep: Bank Exams

2 540
Q:

Rs. 10000 is being compounded at 20% per annum. Calculate the amount after 2 years if rate of interest is charged half yearly.

A) Rs. 10041 B) Rs. 14641
C) Rs. 12000 D) Rs. 13660
 
Answer & Explanation Answer: B) Rs. 14641

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Exam Prep: Bank Exams

3 462
Q:

A sum of Rs 5000 becomes Rs 8000 in 3 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is yearly), then what will be the amount (in Rs) after 3 years?

 

A) 8640   B) 8260  
C) 8880   D) 9220
 
Answer & Explanation Answer: A) 8640  

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Exam Prep: Bank Exams

2 479
Q:

Mr. Devesh borrowed Rs.4,500 at 4% per annum compound interest. The compound interest compounded annually for 2years is

A) Rs. 367.2 B) Rs. 4867.2
C) Rs. 4876.2 D) Rs.376.2
 
Answer & Explanation Answer: A) Rs. 367.2

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Exam Prep: Bank Exams

4 479
Q:

A sum of Rs 8000 becomes Rs 12500 in 2 years at a certain rate of compound interest. What will be the sum (in Rs) after 3 years?

 

A) 13175   B) 14225
C) 12575 D) 15625
 
Answer & Explanation Answer: D) 15625

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Exam Prep: Bank Exams

2 614
Q:

A sum becomes 1.69 times of itself in 2 years when invested at compound interest. What is the per annum rate of interest (in percentage)?

A) 38 B) 34.5
C) 13 D) 30
 
Answer & Explanation Answer: D) 30

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Exam Prep: AIEEE , Bank Exams

2 472
Q:

Mr. Ibrahim borrowed Rs. 7500 at 5% per annum compound interest. The compound interest compounded annually for 2 years is

A) 768.75 B) 8268.75
C) 8286.75 D) 786.75
 
Answer & Explanation Answer: B) 8268.75

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Exam Prep: Bank Exams

3 631