Compound Interest

Compound Interest

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Question 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
Question 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
Question 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
Question 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. 2.04
B
Rs. 3.06
C
Rs. 4.80
D
Rs. 8.30
Question 5
he compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
A
2
B
1
C
2
D
3
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There are 5 questions to complete.

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