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Compound Interest

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Friday, March 28, 2025

A sum of Rs. 15000 is invested at 10% compound interest for 2 years. Find the amount after 2 years.

March 28, 2025 |

Compound Interest, General Aptitude, RRB NTPC Exam 27 Jan 2021, Solved

A sum of Rs. 15000 is invested at 10% compound interest for 2 years. Find the amount after 2 years.

ARs. 15510

BRs. 18150

CRs. 19820

DRs. 18754

Akhilesh Apr 1 '25 at 20:45

correct answer is: option b (b)[Rs. 18150]
Explanation: The formula for compound interest is $A = P(1 + \frac{r}{100})^n$ , where A is the amount after n years, P is the principal amount, r is the rate of interest, and n is the number of years.
In this case, P = Rs. 15000, r = 10%, and n = 2 years.
So, $A = 15000(1 + \frac{10}{100})^2 = 15000(1 + 0.1)^2 = 15000(1.1)^2 = 15000 * 1.21 = 18150$ . Therefore, the amount after 2 years is Rs. 18150

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Find the amount after 3 years if the rate of interest is 15% per annum and principal is Rs. 24,000.

March 28, 2025 |

Compound Interest, General Aptitude, RRB NTPC Exam 27 Jan 2021, Solved

Find the amount after 3 years if the rate of interest is 15% per annum and principal is Rs. 24,000.

ARs. 30,900

BRs. 32,700

CRs. 36,500

DRs. 34,800

Akhilesh Mar 31 '25 at 22:43

correct answer is: Rs. 34,800
Explanation: To find the amount after 3 years with a principal of Rs. 24,000 and an annual interest rate of 15%, we can use the simple interest formula: $A = P + PRT$ Where:
- $P = 24,000$ (principal amount)
- $R = 15\% = 0.15$ (annual interest rate)
- $T = 3$ years Plugging in the values: $A = 24,000 + (24,000 \times 0.15 \times 3)$ $A = 24,000 + 10,800$ $A = 34,800$ Thus, the amount after 3 years is Rs. 34,800.

OPTION a (Rs. 30,900): Too low; doesn't match the calculated amount.

OPTION b (Rs. 32,700): Still too low; doesn't match the calculated amount.

OPTION c (Rs. 36,500): Too high; likely assumes compound interest, which wasn't specified.

OPTION d (Rs. 34,800): Correct; matches the calculated amount using simple interest.

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Sunday, January 26, 2020

If principal amount of Rs. 400 is invested, it gives Rs. 408 at the end of a year, if compound interest is calculated annually. Find the rate of interest.

January 26, 2020 |

Compound Interest, General Aptitude, KPTCL Assistant Exam (Mescom) SLOT-1 7-MAY-2017, UnSolved

If principal amount of Rs. 400 is invested, it gives Rs. 408 at the end of a year, if compound interest is calculated annually. Find the rate of interest.

A3

B2

C1

D5

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Saturday, December 14, 2019

A builder borrows Rs.2550 to be paid back with compound interest at the rate of4% per annum by the end of 2 yr in two equal yearly installments. How muchwill each installment be?

December 14, 2019 |

Compound Interest, General Aptitude, RRB GG Exam (Bhopal) 2009, Solved

A builder borrows Rs.2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 yr in two equal yearly installments. How much will each installment be?

ARs.1352

BRs.1377

CRs.1275

DRs.1283

prakash Dec 23 '2019 at 10:32

Correct answer is: Rs.1352

Explanation:

Amount = Rs 2550

Rate = 4% per annum

Time = 2 years

Applying the formula

$P= \frac{X}{\Big(1+\frac{r}{100}\Big)^n}+ …………………….\frac{X}{\Big(1+\frac{r}{100}\Big)}$

Here we have two equal installments, so

$P= \frac{X}{\Big(1+\frac{r}{100}\Big)^2} + \frac{X}{\Big(1+\frac{r}{100}\Big)}$

$\implies 2550= \frac{X}{\Big(1+\frac{4}{100}\Big)^2} + \frac{X}{\Big(1+\frac{4}{100}\Big)}$

$\implies X = \text{ Rs 1352}$

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Wednesday, December 26, 2018

What will be the difference between SI and CI on a sum of Rs.15,000 for twoyears at the same rate of interest of 121−2% per annum?

December 26, 2018 |

Compound Interest, General Aptitude, RRB TC CC Exam (Mumbai) 2006, Simple Interest, Solved

What will be the difference between SI and CI on a sum of Rs.15,000 for twoyears at the same rate of interest of 121−2% per annum?

ARs.234.375

BRs.230.550

CRs.250.129

DRs.324.357

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