Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 1)
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:
Answer: Option
Explanation:
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| = Rs. 3321. |
C.I. = Rs. (3321 - 3200) = Rs. 121
Discussion:
220 comments Page 13 of 22.
Pragya said:
10 years ago
Good explanation.
Beaulah abigail said:
10 years ago
Someone please explain the question.
Rohan said:
10 years ago
Please explain the 1st question I am not able to understand.
Aps said:
10 years ago
I don't understand please explain it.
Nikesh said:
10 years ago
Please solve this question.
In how many years will a sum of Rs 800 at 10% per annum compounded semiannually becomes Rs 926.10.
Is this process wrong?
926.1 = 800(1+5/200))^2n.
Where n is in half yearly. I got 4/5.
In how many years will a sum of Rs 800 at 10% per annum compounded semiannually becomes Rs 926.10.
Is this process wrong?
926.1 = 800(1+5/200))^2n.
Where n is in half yearly. I got 4/5.
Hanmanth said:
10 years ago
How 3200 is coming please explain detail me?
Donalika said:
10 years ago
Easy way to do it quite clearly.
Double the amount of 1600 = 1600+1600 = 3200.
Is this way is correct? I think its correct.
Double the amount of 1600 = 1600+1600 = 3200.
Is this way is correct? I think its correct.
Sirisha said:
10 years ago
How come 81/40? Can any one explain?
SPG said:
10 years ago
5/2 (since half yearly, had it been quarterly 5/4 or monthly 5/12).
= 2.5 => 100 + 2.5 = 102.5 => 102.5/100 = 1.025.
For 1st amount = 1600 * 1.025 * 1.025 = 1681.
For 2nd amount = 1600 * 1.025 = 1640.
Therefore interest earned 81 + 40 = 121.
= 2.5 => 100 + 2.5 = 102.5 => 102.5/100 = 1.025.
For 1st amount = 1600 * 1.025 * 1.025 = 1681.
For 2nd amount = 1600 * 1.025 = 1640.
Therefore interest earned 81 + 40 = 121.
KISHOR said:
10 years ago
For half yearly basis (R) = 5/2 = 2.5%.
(2.5% of 1600)/100 = 1600*2.5. = 40
Customer has rs 1600 + 40 = 1640.
He again adds 1600 on 1st July so 1600 + 1640 = 3240.
(2.5% of 3240)/100 = 3240*2.5 = 81.
Therefore, total interest earned is 81 + 41 = 121.
(2.5% of 1600)/100 = 1600*2.5. = 40
Customer has rs 1600 + 40 = 1640.
He again adds 1600 on 1st July so 1600 + 1640 = 3240.
(2.5% of 3240)/100 = 3240*2.5 = 81.
Therefore, total interest earned is 81 + 41 = 121.
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