ANN Search

Q:

Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly

A) 2422	B) 2522
C) 2622	D) 2722

Answer & Explanation Answer: B) 2522

Explanation:

Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

CJ. = Rs. (18522 - 16000) = Rs. 2522

Report Error

View Answer Report Error Discuss

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

Q:

Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly.

A) 524.32	B) 624.32
C) 724.32	D) 824.32

Answer & Explanation Answer: D) 824.32

Explanation:

Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years.
Amount == Rs. 10824.32.

$R s . [10000 * {(1 + \frac{2}{100})}^{4}] = R s . [10000 * \frac{51}{50} * \frac{51}{50} * \frac{51}{50} * \frac{51}{50}]$

$\therefore$ C.I. = Rs. (10824.32 - 10000) = Rs. 824.32.

Report Error

View Answer Report Error Discuss

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

Q:

Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually

A) 2109	B) 3109
C) 4109	D) 6109

Answer & Explanation Answer: B) 3109

Explanation:

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.
Amount = Rs'. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)]
=Rs. [8000 * (23/20) * (23/20) * (21/20)]
= Rs. 11109. .
:. C.I. = Rs. (11109 - 8000) = Rs. 3109.

Report Error

View Answer Report Error Discuss

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

Q:

Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

A) 612	B) 712
C) 812	D) 912

Answer & Explanation Answer: A) 612

Explanation:

Amount = Rs [7500*(1+(4/100)2] = Rs (7500 * (26/25) * (26/25) ) = Rs. 8112.
therefore, C.I. = Rs. (8112 - 7500) = Rs. 612.

Report Error

View Answer Report Error Discuss

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

Q:

The true discount on Rs.1600 due to after a certain of 5% per annum is Rs.160. The time after which it is due is

A) 27months	B) 23months
C) 20months	D) 12months

Answer & Explanation Answer: A) 27months

Explanation:

P.W. = Rs. (1600 - 160) = Rs. 1440
∴ S.I. on Rs.1440 at 5% is Rs. 160.
∴ Time = [100 * 160 / 1440 * 5] = 20/9 years = [20/9 * 12] months = 27 months.

Report Error

View Answer Report Error Discuss

Filed Under: True Discount

Q:

The periodic interest rate corresponding to: 9.75% compounded semiannually

A) 4.875	B) 3.785
C) 4.865	D) 4.975

Answer & Explanation Answer: A) 4.875

Explanation:

i=j/m

Report Error

View Answer Report Error Discuss

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

Q:

A loan is made for $3500 with an interest rate of 9% and payments made annually for 4 years. What is the payment amount?

A) 8906	B) 1089
C) 1070	D) 1080.34

Answer & Explanation Answer: D) 1080.34

Explanation:

A=R[(1+i)^n-1]/i(1+i)^n

Report Error

View Answer Report Error Discuss

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

Q:

A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find

(a) the present value to fund the end-of-period retirement benefit.

(b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually

A) 245678	B) 234689
C) 281468.06	D) 234578

Answer & Explanation Answer: C) 281468.06

Explanation:

R=S[i/(1+i)^n-1]

Report Error

View Answer Report Error Discuss

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

Searching for "ANN"

Quick Links