0 Search

Q:

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

A) 3years	B) 2years
C) 4years	D) 6years

Answer & Explanation Answer: B) 2years

Explanation:

Amount = Rs. (30000 + 4347) = Rs. 34347.

Let the time be n years.

Then, 30000*(1+7/100)^n=34347

n= 2 years

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

What is the difference between the compound interests on Rs. 5000 for $1 \frac{1}{2}$ years at 4% per annum compounded yearly and half-yearly?

A) Rs.3.06	B) Rs.2.04
C) Rs.3.65	D) Rs.5.40

Answer & Explanation Answer: B) Rs.2.04

Explanation:

C.I. when interest compounded yearly

$R s . [5000 * (1 + \frac{4}{100}) * (1 + \frac{\frac{1}{2} * 4}{100})]$

$R s . [5000 * \frac{26}{25} * \frac{51}{50}]$

=Rs.5034

C.I. when interest iscompounded half-yearly

$R s . [5000 * {(1 + \frac{2}{100})}^{3}]$

= Rs. 5306.04

Difference = Rs. (5306.04 - 5304) = Rs. 2.04

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate

A) Rs.4972	B) Rs.3972
C) Rs.5972	D) Rs.2972

Answer & Explanation Answer: B) Rs.3972

Explanation:

Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.

R= $\frac{100 * 60}{100 * 6}$ =10% p.a

Now, P = Rs. 12000. T = 3 years and R = 10% p.a.

C.I= $R s . [12000 * {[1 + \frac{10}{100}]}^{3} - 1]$
=Rs.3972

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is

A) 2years	B) 3years
C) 4years	D) 5years

Answer & Explanation Answer: A) 2years

Explanation:

Amount = Rs(30000 + 4347) = Rs.34347.

Let the time be n years. Then,

$30000 {[1 + \frac{7}{100}]}^{n} = 34347$

$\Leftrightarrow$ ${(\frac{107}{100})}^{n} = \frac{34347}{30000} = \frac{11449}{10000} = {(\frac{107}{100})}^{2}$

n= 2years.

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

What will be the compound interest on a sum of Rs.25,000 after 3 years at the rate of 12 p.c.p.a?

A) Rs.10123.20	B) Rs.12100
C) Rs.12552	D) Rs.12665

Answer & Explanation Answer: A) Rs.10123.20

Explanation:

Amount

= Rs.(25000x(1+12/100)³

= Rs.(25000x28/25x28/25x28/25)

= Rs. 35123.20.

C.I = Rs(35123.20 -25000)

= Rs.10123.20

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: GRE

Q:

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

A) Rs.1251	B) Rs.1261
C) Rs.1271	D) Rs,1281

Answer & Explanation Answer: B) Rs.1261

Explanation:

Clearly, Rate = 5% p.a .,

Time = 3 years

S.I =Rs.1200.

So,Principal

=Rs.(100 x 1200/3x5)

=Rs.8000.

Amount

=Rs.[8000 x (1+5/100)³]

=Rs(8000x21/20x21/20x21/20)

= Rs.9261

C.I

=Rs.(9261-8000)

=Rs.1261.

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

In what time will Rs.1000 become Rs.1331 at 10% per annum compounded annually?

A) 2years	B) 3years
C) 4years	D) 5years

Answer & Explanation Answer: B) 3years

Explanation:

Principal = Rs.1000;

Amount = Rs.1331;

Rate = Rs.10%p.a.

Let the time be n years.Then

[1000(1+10/100)Λn;]

= 1331.

= (1331/1000)

= (11/10)³

Therefore n = 3 years.

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?

A) Rs.51.25	B) Rs.52
C) Rs.53	D) Rs.54

Answer & Explanation Answer: A) Rs.51.25

Explanation:

Sum =Rs.(50 x 100/2x5)

= Rs. 500.

Amount

=[Rs.500x(1+5/100)²]

=Rs(500x21/20x21/20).

=Rs. 551.25

C.I

= Rs. (551.25 - 500)

= Rs. 51.25

Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Searching for "0"

Quick Links