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Simple and Compound Interest

Simple and Compound Interest: Difference between simple and compound interest, Simple Interest Formula and Compound Interest Formula, Simple Interest Questions

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Online Aptitude Questions with Answers on Simple and Compound Interest

Q26. **At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?**

  1.  6%
  2.  6.5%
  3.  7%
  4.  7.5%

Solution : 6%
Q27. **The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:**

  1.  3
  2.  4
  3.  5
  4.  6

Solution : 4

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Q28. **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?**

  1.  Rs. 8600
  2.  Rs. 8620
  3.  Rs. 8820
  4.  None of these

Solution : Rs. 8820
Q29. **The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:**

  1.  6.06%
  2.  6.07%
  3.  6.08%
  4.  6.09%

Solution : 6.09%

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Q30. **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:**

  1.  Rs. 1550
  2.  Rs. 1650
  3.  Rs. 1750
  4.  Rs. 2000

Solution : Rs. 1750
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