Maths Questions and Answers for Bank Exams

Mathematical Question-Answers for Competitive Exams

Compound Interest :

Q.21. The simple interest on a certain sum of money for 3 year at 8% per annum is half the compounded interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

(A) Rs.1550

(B) Rs. 1650

(C) Rs. 1750

(D) Rs. 2000

Q.22. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4 % per annum is Rs. 1. The sum (in Rs.) is:

(A) 625

(B) 630

(C) 640

(D) 650

Q.23. 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%

Q.24. 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) 3%

(B) 4%

(C) 5%

(D) 6%

Q.25. 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

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