A bank offers 5٪ compound interest half-yearly calculated on a basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the interest he would have gained is:
- (a) Rs. 120
- (b) Rs. 121
- (c) Rs. 122
- (d) 123t and distance
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The difference between simple and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
- (a) 625
- (b) 630
- (c) 640
- (d) 650
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There is a 60% increase in an amount in 6 years at simple interest. What will be the compound interest on Rs. 12,000 after 3 years at the same rate?
- (a) Rs. 2160
- (b) Rs. 3120
- (c) Rs. 3972
- (d) Rs. 6240
- (e) None of these
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What is the difference between the compound interest on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
- (a) Rs. 2.04
- (b) Rs. 3.06
- (c) Rs. 4.80
- (d) Rs. 8.30
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The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
- (a) 2
- (b) 3
- (c) 4
- (d) 2*1/2
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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?
- (a) Rs. 9000.30
- (b) Rs. 9720
- (c) Rs. 10123.20
- (d) Rs. 10483.20
- (e) None of these
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At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
- (a) 6%
- (b) 6.5%
- (c) 7%
- (d) 7.5%
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The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
- (a) 3
- (b) 4
- (c) 5
- (d) 6
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Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at a compound interest rate of 5% per annum. How much amount will Albert get on maturity of the fixed deposit?
- (a) Rs. 8600
- (b) Rs. 8620
- (c) Rs. 8820
- (d) None of these
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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%
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