Simple & Compound Interest - Previous Year IPM/BBA Questions
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ipm
Assume it is the beginning of the year today. Ankita will earn INR 10,000 at the end of the year which she plans to invest in a bank deposit immediately at a fixed simple interest of 0.5% per annum. Her yearly income will increase by INR 10,000 every year and the fixed simple interest offered by the bank on new deposits will also increase by 0.5% per annum every year. If Ankita continues to invest all her yearly income in new bank deposits at the end of each year. the total interest earned by her in INR for five years from today will be?
Solution
Discuss
ReportIf the difference between compound interest and simple interest for a certain amount of money invested for 3 years at an annual interest rate of 10% is INR 527, then the amount invested in INR is
- (a)
170000
- (b)
17000
- (c)
15000
- (d)
150000
If the compound interest earned on a certain sum for 2 years is twice the amount of simple interest for 2 years, then the rate of interest per annum is _______ percent
- (a)
200%
- (b)
2%
- (c)
4%
- (d)
400%