9
Q:

# The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is

 A) 6.06% B) 6.07% C) 6.08% D) 6.09%

Explanation:

Amount of Rs. 100 for 1 year

when compounded half-yearly = Rs.[100*(1+3/100)^2]=Rs.106.09

Effective rate=(106.09-100)%=6.09%

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

If Rs. 2,000 is invested at the rate of 20% per annum, compounded half-yearly, then the amount after 18 months will be:

 A) Rs.2628 B) Rs.2662 C) Rs.2600 D) Rs.3200

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 560
Q:

Calculate the principal if an amount of Rs. 441 is received on compound interest at the rate of 5% per annum after 2 years.

 A) Rs.400 B) Rs.390 C) Rs.380 D) Rs.350

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

2 418
Q:

Gitesh took a loan for 4 years at 5% Compound Interest. If the total interest paid was Rs. 431.01, Calculate the principal.

 A) Rs. 2000 B) Rs. 2050 C) Rs. 2100 D) Rs. 2150

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 391
Q:

A sum of Rs 20000 becomes Rs 32000 in 12 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 2 years?

 A) 21750 B) 22050 C) 23250 D) 24650

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 323
Q:

A sum of Rs 4000 becomes Rs 5800 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 done yearly), then what will be the amount (in Rs) after 2 years?

 A) 4430 B) 5450 C) 5290 D) 4970

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 355
Q:

The maturity value of a certain sum after two years at 20% p.a. interest compounded annually is Rs. 14,400/-. Find the Principal amount.

 A) Rs.9000 B) Rs.9500 C) Rs.10,000 D) Rs.10,500

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 355
Q:

Shams invested Rs. 5000 at 10% per annum compound interest. After n years, Shams received Rs. 1655 more. Find the value of n.

 A) 3 years B) 4 years C) 2 years D) 1 year

Explanation:

Filed Under: Compound Interest
Exam Prep: Bank Exams

4 754
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