Simple & Compound Interest

Dear Reader, Below you will find important formulas of simple and compound problems. Following that you will find solved questions. These questions will help you in preparation for all bank exams including IBPS, SBI, RRB and other banks. Simple...
Question 1 If a sum of Rs.8000 lended for 20% per annum at compound interest then the sum of the amount will be Rs.13824 in: a) 2 years b) 1year c) 3years d) 4years Answer : c)3years Solution : Let Principal = P, Rate = R% per annum, Time = n years...
Question 1 A man lent out Rs.9600 at 9/2 % per annum for a year and 9 months. At the end of the duration, the amount he earned as S.I was: a) Rs. 567 b) Rs.756 c) Rs.874 d) Rs.784 Answer : b) Rs.756 Solution : Given that, principal = P = Rs.9600, R...
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