E-PolyLearning

1. 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
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Answer: (b).Rs. 121

2. 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:
a. 625
b. 630
c. 640
d. 650
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Answer: (a).625

3. 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?
a. Rs. 2160
b. Rs. 3120
c. Rs. 3972
d. Rs. 6240
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Answer: (c).Rs. 3972

4. What is the difference between the compound interests on Rs. 5000 for 1(1/2) 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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Answer: (a).Rs. 2.04

5. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
a. 2
b. 2(1/2)
c. 3
d. 4
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Answer: (a).2

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