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
Answer: B
Compound Interest
- The compound interest on a certain sum 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:
- The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
- The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
- 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?
- 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:
- The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
- 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?
- The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
- At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
- What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
- The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
- What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
- 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?
- 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: