File Name: problems on simple and compound interest .zip
Solved examples with detailed answer description, explanation are given and it would be easy to understand. Here you can find objective type Aptitude Compound Interest questions and answers for interview and entrance examination. Multiple choice and true or false type questions are also provided. You can easily solve all kind of Aptitude questions based on Compound Interest by practicing the objective type exercises given below, also get shortcut methods to solve Aptitude Compound Interest problems.
If the interest received from Scheme B was Rs. Find the principal. What would be the compound interest accrued on the same amount at the same rate in the same period? Scheme A offers simple interest p.
Both the schemes offer the same rate of interest. If the numerical value of the number of years for which the sum is invested in scheme A is same as the numerical value of the rate of interest offered by the same scheme, what is the rate of interest p.
If the interest is compounded every six months what amount wit Sudhanshu get at the end of the year? Anisha deposits an amount of Rs. What total amount will Ms. Anisha get at the end of 4 years? Vijay deposits an amount of Rs. What total amount will Mr. Vijay get at the end of 3 years? What is the rate of interest p. IBPS Clerk previous year papers. Madhur deposits an amount of Rs.
Madhur get at the end of 4 years? Khanna took a loan of Rs. What is his monthly salary? What will be the compound interest at the end of 4 years? From the remaining salary. If after the mentioned expenses she was left with Rs. Top Rated Banking Study Material.
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If the interest received from Scheme B was Rs. Find the principal. What would be the compound interest accrued on the same amount at the same rate in the same period? Scheme A offers simple interest p. Both the schemes offer the same rate of interest. If the numerical value of the number of years for which the sum is invested in scheme A is same as the numerical value of the rate of interest offered by the same scheme, what is the rate of interest p.
Interest may be defined as the charge for using the borrowed money. It is an expense for the person who borrows money and income for the person who lends money. Interest is charged on principal amount at a certain rate for a certain period. Principal amount means the amount of money that is originally borrowed from an individual or a financial institution. It does not include interest. In practice, the interest is charged using one of two methods.
In the last section, we examined problems involving simple interest. Simple interest is generally charged when the lending period is short and often less than a year. When the money is loaned or borrowed for a longer time period, if the interest is paid or charged not only on the principal, but also on the past interest, then we say the interest is compounded. So we have earned interest on the principal as well as on the past interest, and that is why we call it compound interest.
In this question the formula is when the interest is compounded annually to solve this problem on compound interest. How long did he kept the money in the bank? Solution: Let the required time be n years. Hence, the required time is 3 years.
The process is repeated until the amount for the last period has been found. Hence, When the interest charged after a certain specified time period is added to form new principal for the next time period, the interest is said to be compounded and the total interest accurse is compounded and the total interest accrued is compound interest. Since 1 year has 4 quarters, therefore rate of interest will become th of the rate of interest per annum, and the time period will be 4 times the time given in years. Hence, for quarterly interest,. To avoid confusion between stated rates and effective rates, we shall continue to use r for the stated rate and we will use r e for the effective rate.
Simple Interest Worksheet Compute a the ordinary interest, b the exact interest, and c their difference. See Example. Your browser either does not support scripting or you have turned scripting off. The Submit Answers for Grading feature requires scripting to function.
We have to work with money every day.
Lesson Summary Simple Interest : Interest is calculated once per year on the original amount borrowed or invested. The interest does not become part of the amount borrowed or owed the principal. Compound Interest : Interest is calculated once per period on the current amount borrowed or invested. Each period, the interest becomes a part of the principal. Exit Ticket A youth group has a yard sale to raise money for a charity.
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