Compound Interest – Set 3

1) The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

2) The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

3) 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?

4) What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?

5) 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?

7) 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:

8) The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

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

11) 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: