SATHEE: Quantitative Aptitude Ques 453

Quantitative Aptitude Ques 453

Question: A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on January 1st and July 1st of a year. At the end of a year, the amount he would have gained by way of interest is how much? [SBI (SO) 2016]

Options:

A) Rs. 120

B) Rs. 121

C) Rs. 123

D) Rs. 122

E) Rs. 119

Show Answer

Answer:

Correct Answer: B

Solution:

Amount $ =[ 1600\times {{( 1+\frac{5}{200} )}^{2}}+1600( 1+\frac{5}{200} ) ] $ $ =( 1600\times \frac{41}{40}\times \frac{41}{40}+1600\times \frac{41}{40} ) $ $ =\frac{1600\times 41\times 81}{40\times 40}=Rs.,3321 $

$ \therefore $ Compound interest $ =3321-3200=Rs.,121 $

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Quantitative Aptitude Ques 453

Question: A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on January 1st and July 1st of a year. At the end of a year, the amount he would have gained by way of interest is how much? [SBI (SO) 2016]

Options:

Answer:

Solution:

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