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Aptitude :: Compound Interest

  1. Let Principal = P, Rate = R% per annum, Time = n
  2. When interest is compound Annually:
   Amount = P 1 + R n
100
  1. When interest is compounded Half-yearly:
    Amount = P 1 + (R/2) 2n
100
  1. When interest is compounded Quarterly:
    Amount = P 1 + (R/4) 4n
100
  1. When interest is compounded Annually but time is in fraction, say 3
    Amount = P 1 + R 3 x 1 + R
100 100
  1. When Rates are different for different years, say R1%, R2%, R3% for 1st, 2ndand 3rd year respectively.
    Then, Amount = P 1 + R1 1 + R2 1 + R3 .
100 100 100
  1. Present worth of Rs. xdue n years hence is given by:
    Present Worth = x .
1 + R
100
    Question:-
  • A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
  • Rs. 120
  • Rs. 121
  • Rs. 122
  • Rs. 123
  • The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
  • 625
  • 630
  • 640
  • 650
  • 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?
  • Rs. 2160
  • Rs. 3120
  • Rs. 3972
  • Rs. 6240
  • None of these
  • What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
  • Rs. 2.04
  • Rs. 3.06
  • Rs. 4.80
  • Rs. 8.30
  • The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
  • 2
  • 212
  • 3
  • 4
  • 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.?
  • Rs. 9000.30
  • Rs. 9720
  • Rs. 10123.20
  • Rs. 10483.20
  • None of these
  • At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
  • 6%
  • 6.5%
  • 7%
  • 7.5%
  • The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
  • 3
  • 4
  • 5
  • 6
  • Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?
  • Rs. 8600
  • Rs. 8620
  • Rs. 8820
  • None of these
  • The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
  • 6.06%
  • 6.07%
  • 6.08%
  • 6.09%

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