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Compound Interest

Aptitude ➤ Compound Interest ➤ 1

Let Principal = P, Rate = R % per annum (p.a.) and Time = n years. Then,

I. When interest is compound Annually:
Amount = P(1+R/100)n

II. When interest is compounded Half-yearly:
Amount = P[1+(R/2)/100]2n

III. When interest is compounded Quarterly:
Amount = P[ 1+(R/4)/100]4n

Question 6
Q6.  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:
Question 7
Q7.  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?
Question 8
Q8.  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:
Question 9
Q9.  What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4 % per annum compounded yearly and half-yearly?
Question 10
Q10.  The least number of complete years in which a sum of money put out at 20 % compound interest will be more than doubled is:
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