Question

A bank offers 20% compound interest per half year. a customer deposits rs 2800 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 ______.

Answer 1

768 is your answer. 280+560+28

Answer 2

1. What is the difference between the compound interests on Rs. 5000 for 11⁄2 years at 4% per annum compounded yearly and half-yearly?

A. Rs. 2.04

B. Rs. 4.80

C. Rs. 3.06

D. Rs. 8.30

2. 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. 123

D. Rs. 122

3. There is 80% increase in an amount in 8 years at simple interest. What will be the compound interest of Rs. 14,000 after 3 years at the same rate?

A. Rs.3794

B. Rs.3714

C. Rs.4612

D. Rs.4634

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

A. 1

B. 2

C. 3

D. 3.5

5. 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 is:

A. Rs.600

B. Rs.645

C. Rs.525

D. Rs.625