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 |
|
||||||||||||||||
|
|||||||||||||||||
|
|||||||||||||||||
|
|||||||||||||||||
| = Rs. 3321. |
C.I. = Rs. (3321 - 3200) = Rs. 121
Discussion:
220 comments Page 8 of 22.
Boney said:
1 decade ago
I dont understand the 2nd term in the expression
Amount=1600[1+(1/2)*(5/100)]^2+ 1600[1+(5/2*100)]
Amount compounded half yearly is A=P[1+r/2*100)]^2
Don't understand what this term doing 1600[1+(5/2*100)]
Someone tell me
Amount=1600[1+(1/2)*(5/100)]^2+ 1600[1+(5/2*100)]
Amount compounded half yearly is A=P[1+r/2*100)]^2
Don't understand what this term doing 1600[1+(5/2*100)]
Someone tell me
(1)
Thavaz@ said:
8 years ago
Helo guys.
Here is a simple method..
Now 1600rs at 5% intrest per annum. So 2.5% for 6 months. its 40rs then at the 2nd investment 1600+40+1600=3240.
Here 2.5% is 81rs, So 40+81=121rs (5% per annum so 2.5% per 6mnths).
Here is a simple method..
Now 1600rs at 5% intrest per annum. So 2.5% for 6 months. its 40rs then at the 2nd investment 1600+40+1600=3240.
Here 2.5% is 81rs, So 40+81=121rs (5% per annum so 2.5% per 6mnths).
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.
Zaid junaid said:
1 decade ago
Well according to me it means that he is depositing the amount 2 times first in Jan and than in July.
So for Jan years will be 1 but for July it will be 1/2 years. So that's why the second term has not been squared.
So for Jan years will be 1 but for July it will be 1/2 years. So that's why the second term has not been squared.
Divakar J said:
1 year ago
BANK INTEREST - 5%.
1st jan deposit = 1600.
1st jul deposit = 1600.
1st Jan = 1600 * 5/100 = 80.
For 6months 80/2v= 40.
40 + 1600 = 1640.
1st july = 1640(jan) + 1600(jul) = 3240.
3240*5/100v= 81.
= 40+81 = 121.
1st jan deposit = 1600.
1st jul deposit = 1600.
1st Jan = 1600 * 5/100 = 80.
For 6months 80/2v= 40.
40 + 1600 = 1640.
1st july = 1640(jan) + 1600(jul) = 3240.
3240*5/100v= 81.
= 40+81 = 121.
(63)
Pankaj parashar said:
1 decade ago
According to me itis given that compounded half yearly
So rate=5/2=2.5%
So first 6 months ci=1600*2.5/100=40
Now amount=1600+40=1640
Now 2nd 6 months ci=3240*2.5/100=81
So total ci = 80+40 = 121.
So rate=5/2=2.5%
So first 6 months ci=1600*2.5/100=40
Now amount=1600+40=1640
Now 2nd 6 months ci=3240*2.5/100=81
So total ci = 80+40 = 121.
Ranjith said:
1 decade ago
I have taken this formula:
A = 1600(1+2.5/100)^2+1600(1+2.5/100).
= 1600(1+41/40)^2+1600(1+41/40).
= 1681+1640.
= 3321.
Therefore less principle amount of 1600*2 = 3200 to get interest earned.
3321-3200 = 121.
A = 1600(1+2.5/100)^2+1600(1+2.5/100).
= 1600(1+41/40)^2+1600(1+41/40).
= 1681+1640.
= 3321.
Therefore less principle amount of 1600*2 = 3200 to get interest earned.
3321-3200 = 121.
Henrymualchin said:
8 years ago
@Indhu.
1 July, it is 6th month of the year, where there's total 12 months in a year
so, it means half year(6/12=1/2).
Therefore, [1600 x (1+5/2*100)]^2n,
= [1600 x (1+5/2*100)]^2*1/2,
=[1600 x (1+5/200)].
1 July, it is 6th month of the year, where there's total 12 months in a year
so, it means half year(6/12=1/2).
Therefore, [1600 x (1+5/2*100)]^2n,
= [1600 x (1+5/2*100)]^2*1/2,
=[1600 x (1+5/200)].
Jyoti ranjan said:
8 years ago
This is very simple.
Here, the compound interest half yearly formula has been applied. But 1st case 1600 deposit time is 1 year and 2nd case 1600 deposit time n=1/2 year. Rest calculation is same.
Here, the compound interest half yearly formula has been applied. But 1st case 1600 deposit time is 1 year and 2nd case 1600 deposit time n=1/2 year. Rest calculation is same.
Venkatesan M said:
1 decade ago
1st Jan-First Half Yr 1600 x 5/100 x 6/12 = 40.00.
1st Jan-Second Half Yr (1600+40)x 5/100 x 6/12 = 41.00.
1st Jul-second Half Yr 1600 x 5/100 x 6/112 = 40.00.
_______
Total Int = 121.00.
1st Jan-Second Half Yr (1600+40)x 5/100 x 6/12 = 41.00.
1st Jul-second Half Yr 1600 x 5/100 x 6/112 = 40.00.
_______
Total Int = 121.00.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers