Compound Interest – General Questions

6. 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.?

A. Rs. 9000.30
B. Rs. 9720
C. Rs. 10123.20
D. Rs. 10483.20
E. None of these

Correct Answer: C. Rs. 10123.20

Answer Explanation:

the compound interest

7. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

A. 6%
B. 6.5%
C. 7%
D. 7.5%

Correct Answer: A. 6%

Answer Explanation:

rate of compound interest

8. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

A. 3
B. 4
C. 5
D. 6

Correct Answer: B. 4

Answer Explanation:

number of complete years

9. Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at a compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

A. Rs. 8600
B. Rs. 8620
C. Rs. 8820
D. None of these

Correct Answer: C. Rs. 8820

Answer Explanation:

The amount Albert get on maturity of the fixed deposit is

10. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

A. 6.06%
B. 6.07%
C. 6.08%
D. 6.09%

Correct Answer: D. 6.09%

Answer Explanation:

The effective annual rate

Leave A Comment?

one × 1 =