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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 11
Q11.  Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?
Question 12
Q12.  The effective annual rate of interest corresponding to a nominal rate of 6 % per annum payable half-yearly is:
Question 13
Q13.  Simple interest on a certain sum of money for 3 years at 8 % per annum is half the compound interest on Rs. 4000 for 2 years at 10 % per annum. The sum placed on simple interest is:
Question 14
Q14.  If the simple interest on a sum of money for 2 years at 5 % per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
Question 15
Q15.  The difference between simple interest and compound on Rs. 1200 for one year at 10 % per annum reckoned half-yearly is:
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