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Compound Interest Questions and Answers for Banks Exam and SSC

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Compound interest questions and answers for competitive exams


6. 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%

Ans .  D


7. A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs.840 in 4 years. The rate of interest per annum is: 

(A) 

(B) 4%

(C) 5%

(D) 

Ans .  C

8. What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?

(A) Rs. 550

(B) Rs. 551.25

(C) Rs. 560

(D) Rs. 560.75

Ans .  B


9. Albert invested an amount of Rs 8000 in 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?

(A) Rs. 8600

(B) Rs. 8620

(C) Rs. 8800

(D) Rs. 8840

(E) none of these 

Ans .  E


10. What will be the compound interest on a sum of Rs.25000 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 

Ans .  C


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