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:
| Amount |
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| = Rs. 3321. |
C.I. = Rs. (3321 - 3200) = Rs. 121
Discussion:
220 comments Page 13 of 22.
PRASOON DAWN said:
1 decade ago
I am not able to understand the problem in these quick steps. Can anyone please help me understand in detailed process.
ANUPAM DAS said:
9 years ago
1600 * 5/200 = 40(1st half)
1600 + 1600 + 40 = 3240
3240 * 5/200 = 81(2nd half )
So, total interest = 40 + 81 = 121.
1600 + 1600 + 40 = 3240
3240 * 5/200 = 81(2nd half )
So, total interest = 40 + 81 = 121.
Priya said:
1 decade ago
He deposit second time in july know. Beforre that tere are 6 months. So it is termed as half yearly. Is it clear.
Anom said:
6 years ago
I want to ask that, there is a 5% interest on every half a year, why you are calculating 5% interest for a year?
V!cky said:
9 years ago
If interest is 5% compounded semi-annually. Then what is the effective interest for 1st half, is it 5/2% or 5%?
Parv said:
7 years ago
If on calculating the first 6 months then from July it is CI for both. Why only SI is considered in both time.
Annie said:
1 decade ago
The question is for one year. What if 5 years? please help me. I've got headache thinking about this topic.
Yamini said:
9 years ago
Its is already given that 5% on half yearly basis than when why by the rate of interest calculated further?
Sam said:
8 years ago
As far, I know Compound Interest =p(1+r)^n, I can't understand how n=2?
Can anyone help me? Please.
Can anyone help me? Please.
Priya said:
4 years ago
Normal CI's amount formula :
A= P[ 1+ R/100]^n.
When compounded half-yearly :
A= P[1+(R/2)/100]^2n.
A= P[ 1+ R/100]^n.
When compounded half-yearly :
A= P[1+(R/2)/100]^2n.
(36)
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