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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.

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

341 58257
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.

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

59 46410
Q:

Golf player Vijay Singh belongs to which country?

A) USA B) Fiji
C) India D) UK
 
Answer & Explanation Answer: B) Fiji

Explanation:

Golf player Vijay Singh is an Indo-Fijian belongs to Fiji. He was born in 1963, who was number 1 in the Official World Golf Ranking for 32 weeks in 2004 and 2005.

Golf_player_Vijay_Singh_belongs_to_which_country1542256229.jpg image

 

He was nicknamed as "The Big Fijian", has won three major Golf Championships. He has started his profession career from 1984.

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Filed Under: General Awareness
Exam Prep: CAT , Bank Exams , AIEEE
Job Role: Bank PO , Bank Clerk , Analyst

409 56655
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 & Explanation Answer: D) 10%

Explanation:

j=mi

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

2 17706
Q:

Determine the nominal rate of interest if:
The periodic rate is 1.75% per quarter.

A) 7% B) 8%
C) 9% D) 10%
 
Answer & Explanation Answer: A) 7%

Explanation:

j=mi

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

3 2650
Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:0.7

A) 9 B) 10
C) 11 D) 12
 
Answer & Explanation Answer: D) 12

Explanation:

i=j/m

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

0 2799
Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is:2.1

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: D) 4

Explanation:

i=j/m

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

0 2751
Q:

For a nominal interest rate of 8.4%, what is the compounding frequency if the periodic interest rate is 8.4

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: A) 1

Explanation:

m=j/i

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

0 2978