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Aptitude :: Compound Interest Why Aptitude Compound Interest? In this section you can learn and practice Aptitude Questions based on "Compound Interest" and improve your skills in order to face the interview, competitive examination and various entrance test (CAT, (CAT, GATE, GRE, MAT, MAT, Bank Exam, Railway Exam etc.) with full confidence.
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Where here can I get Aptitude Compound Interest Interview Questions and Answers (objective type, multiple choice)? Here you can find objective type Aptitude Compound Interest questions and answers for interview interview and entrance examination. Multiple choice and true or false type questions are also provided. provided.
How to solve Aptitude Compound Interest problems? You can can easily solve all kind of Aptitude questions based on Compound C ompound Interest by practicing the objective type exercises given below, also get shortcut methods to solve Aptitude Compound Interest problems. Home » Home » Aptitude Aptitude » » Compound Interest » Interest » General Questions
Exercise :: Compound Interest - General Questions Compound Interest - Important Formulas Compound Interest - General Questions Compound Interest - Data Sufficiency 1 Compound Interest - Data Sufficiency 2 Compound Interest - Data Sufficiency 3.1 1. 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: A.Rs. 120 B.Rs. 121 C. Rs. 122 D.Rs. 123 Answer: Option B Explanation: 5 5 2+ 1600 x 1 + 2 x 100 2 x 100 41 41 41 = Rs. 1600 x x + 1600 x 40 40 40 41 41 = Rs. 1600 x +1 40 40 1600 x 41 x 81 = Rs. 40 x 40 = Rs. 3321.
Amount= Rs. 1600 x 1 +
C.I. = Rs. (3321 - 3200) = Rs. 121
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View Answer Discuss in Forum Workspace Report 2. 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: A.625 B.630 C. 640 D.650 Answer: Option A Explanation: Let the sum be Rs. x . Then, C.I. =
S.I. =
x
1+
4 676 51 2- x = x - x = x . 100 625 625
x 4 x 2 2 x = . 100 25
x
51 x 2 x - =1 625 25 = 625.
x
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View Answer Discuss in Forum Workspace Report 3. 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. 2160 B.Rs. 3120 C. Rs. 3972 D.Rs. 6240 E. None of these Answer: Option C Explanation: Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years. R =
100 x 60 = 10% p.a. 100 x 6
Now, P = Rs. 12000. T = 3 years and R = 10% p.a. 10 1+ 3- 1 100 331 = Rs. 12000 x 1000 = 3972.
C.I.= Rs. 12000 x
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What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly? A.Rs. 2.04 B.Rs. 3.06 C. Rs. 4.80 D.Rs. 8.30 Answer: Option A Explanation: C.I. when interest compounded yearly
4
x 1 + x 4 100 100 26 51 = Rs. 5000 x x 25 50 = Rs. 5304. = Rs. 5000 x 1 +
2 C.I. when interest is = Rs. 5000 x 1 + 3 compounded half-yearly 100 51 51 51 = Rs. 5000 x x x 50 50 50 = Rs. 5306.04 Difference = Rs. (5306.04 - 5304) = Rs. 2.04 Workspace
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View Answer Discuss in Forum Workspace Report 5. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347 . The period (in years) is: A.2 1 B.2 2 C. 3 D.4 Answer: Option A Explanation: Amount = Rs. (30000 + 4347) = Rs. 34347. Let the time be n years. 7 Then, 30000 1 + 100 107 100
=
n
= 34347
n
34347 11449 107 = = 2 30000 10000 100
= 2 years.
n
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