Question

compound interest questions

Answer 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. 120B.Rs. 121C.Rs. 122D.Rs. 123

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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.625B.630C.640D.650

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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. 2160B.Rs. 3120C.Rs. 3972D.Rs. 6240E.None of these

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4. 

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. 2.04B.Rs. 3.06C.Rs. 4.80D.Rs. 8.30

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5. 

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

A.2B.212C.3D.4

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Answer 2

compounded anually.
P=₹10800
N=3
R=12 1/2%

compounded half yearly.
P=₹62500
N=1 1/2
R=8%
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