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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


21. Sam invested Rs. 15,000@10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be :

(A) Rs. 16,500

(B) Rs. 16,525.50

(C) Rs. 16,537.50

(D) Rs. 18,150

(E) none of these 

Ans .  C


22. 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

Ans .  B


 23. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

(A) 2

(B) 

(C) 3

(D) 4

Ans .  A


24. In how many years will a sum of Rs. 800 at 10% per annum compounded semi-annually become Rs. 926.10?

(A) 

(B) 

(C) 

(D) 

Ans .  B


25. The compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is: 

(A) 400

(B) 500

(C) 600

(D) 800

Ans .  B

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