An amount of Rs 6000 lent at 5 per annum compounded...

Home / Arithmetic Ability / Compound Interest / Question

Examveda

An amount of Rs 6000 lent at 5% per annum compounded interest for 2 years will become = ?

A. Rs. 600

B. Rs. 6600

C. Rs. 6610

D. Rs. 6615

Answer: Option D

Solution(By Examveda Team)

$$\eqalign{ & {\text{Amount = 6000}}{\left( {1 + \frac{5}{{100}}} \right)^2} \cr & \Rightarrow {\text{Amount = 6000}} \times \frac{{21}}{{20}} \times \frac{{21}}{{20}} \cr & \Rightarrow {\text{Amount = Rs. 6615}} \cr} $$

This Question Belongs to Arithmetic Ability >> Compound Interest

Join The Discussion

Related Questions on Compound Interest

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1^st January and 1^st 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

E. None of these

View Answer

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 1. The sum (in Rs.) is:

A. 625

B. 630

C. 640

D. 650

E. None of these

View Answer

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

E. None of these

View Answer

What is the difference between the compound interests on Rs. 5000 for $$1\frac{1}{2}$$ 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

View Answer

More Related Questions on Compound Interest