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:

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

A sum of Rs. 2000 at 40% per annum compounded annually. Calculate the interest for the third your at compound interest.

A) 1500 B) 1600
C) 1568 D) 1750
 
Answer & Explanation Answer: C) 1568

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3 485
Q:

On a certain principal, simple interest amounts to Rs. 2,000 in two years at the rate of 10% p.a. What will be the difference in the amount of interest if the same is compounded on annual basis?

A) Rs.200 B) Rs.220
C) Rs.100 D) Rs.120
 
Answer & Explanation Answer: C) Rs.100

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6 1098
Q:

A certain sum when invested at 5% interest compounded annually for 3 years yields an interest of Rs.2522. Find the Principal?

A) Rs. 12,522 B) Rs. 15,200
C) Rs. 16,000 D) Rs. 17,200
 
Answer & Explanation Answer: C) Rs. 16,000

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5 744
Q:

If the interest is compounded half-yearly, then what will be the compound interest (in Rs) on a sum of Rs 10000 for 1 year at the rate of 10% per annum?

A) 1250 B) 525
C) 1000 D) 1025
 
Answer & Explanation Answer: D) 1025

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3 576
Q:

Compound interest on a certain sum for 2 years at the rate of 11% per annum is Rs 1160.5. What will be the simple interest (in Rs) for the same
amount at the same rate of interest for 2 years?

 

A) 9000 B) 1000
C) 1100 D) 1050
 
Answer & Explanation Answer: C) 1100

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2 889
Q:

The difference between the compound interest (compounding annually) and simple interest on a sum at the rate of 12% per annum for 2 years is Rs 360. What is the sum (in Rs)?

A) 27000 B) 32000
C) 30000 D) 25000
 
Answer & Explanation Answer: D) 25000

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9 807
Q:

A sum of Rs 4000 becomes Rs 6000 in 1 year at a certain rate of compound interest. What will be the sum (in Rs) after 4 years?

A) 16250 B) 12000
C) 20250 D) 19500
 
Answer & Explanation Answer: C) 20250

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Q:

What is the difference (in Rs) between compound interest (compounded annually) and simple interest for 3 years on a principal of Rs 3000 at the annual rate of 20%?

A) 464 B) 384
C) 356 D) 424
 
Answer & Explanation Answer: B) 384

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