Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.
Compound Interest is one of important topic in Quantitative Aptitude Section. In Compound Interest Quiz 1 article candidates can find questions with answer. By solving this questions candidates can improve and maintain, speed, and accuracy in the exams. Compound Interest Quiz 1 questions are very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS SO, RRB, Railways, Civil Services etc.
C. Rs. 42,000
D. Rs. 50,000
Difference between SI & CI at the end of 2 years = 4100 – 4000 = Rs. 100
Rate of Interest = \(\frac {100}{2000} \times 100 = 5%\)
\(\frac {P \times 5 \times 3}{100}\) = 6000
P = Rs. 40000
C. Rs. 104000
D. Rs. 80000
Interest if compounded annually = 100\([{(1 + \frac {10}{100})}^{2} – 1]\) = Rs. 21
Interest if compound half yearly = 100\([{(1 + \frac {5}{100})}^{4} – 1]\) = Rs. 21.550625
Difference = 0.550625
Actual sum \(\frac {440.5}{0.550625} \times 100\) = Rs. 80000
Amount invested in Scheme B = (12200 – x)
i.e, x \([{(1 + \frac {10}{100})}^{2} – 1] = \frac {(12200 – x) \times 10 \times 4}{100}\)
21x = 488000 – 40x
61x = 488000 = 8000
Amount 9600 – 3000 = 6600
At end of \({2}^{nd}\) year 6600 + 1320 = 7920
Amount 7920 – 3000 = 4920
Amount to be paid at the end of third year = 4920 + 984 = 5904
C. Rs. 10,000
D. Rs. 9,500
Competitive Exams – Study Guide | ||
---|---|---|
Category | ||
Quantitative Aptitude |
Reasoning Ability |
General Awareness |
Computer Awareness |
English Knowledge |
Banking Awareness |
Descriptive Test |
Marketing Aptitude |
Competitive Exams – Entrance Exams | |||
---|---|---|---|
Category | Notification | ||
UG | NSTSE 2020 | RIMC Admission 2020 | |
Diploma | HPBOSE D.El.Ed CET 2019 | Goa Diploma Admissions 2019 | |
PG |
GATE 2020 |
ATMA 2019 |
XAT 2020 |
^{} Click Here For – All India Entrance Exam Notifications |
Competitive Exams – Practice Sets | |
---|---|
Category | Quiz |
English Language | Spotting Errors |
Current Affairs | Current Affairs |
Quantitative Aptitude | Mensuration |
General Knowledge for Competitive Examinations | |
---|---|
Topic | Name of the Article |
GK – World |
Pulitzer Prizes 2019 Winners |
Agricultural Commodities Largest Producers | |
GK – India |
Various Indian Price Indices |
Indian Autobiographies | |
GK – Abbreviations |
Computer Abbreviations |
Indian Railways Acronyms | |
GK – Banking & Insurance |
Indian Banking and Indian Schemes Important Abbreviations 2019 |
Insurance Awareness Important Terms | |
GK – Science & Technology |
Physics Terminology |
Important Scientific Instruments | |
IBM IIT Bombay AI Research |