Compound Interest Practice Problems – Set 2

Compound Interest Practice Problems – Set 2

1. The population of town is decreasing by a certain rate of interest (Compounded annually). If the current population be 29160 and ratio of in population second year and 3rd year be 10 : 9. When was the population 3 years ago?

a) 40,000

b) 35,000

c) 55,000

d) 33,000

e) 42,000

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Compound Interest Problems Practice Set - 1

Compound Interest Problems Practice Set - 1

1. Ravi Shankar takes money from the employees’ cooperative society at lower rate of interest and saves in a scheme, which gives him a compound interest of 20%, compounded annually. Find the least number of complete years after which his sum will be more than double.

A) 4 years

B) 2 years

C) 6 years

D) 8 years

E) 12 years

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Quantitative Aptitude Notes: Compound Interest

Quantitative Aptitude Notes: Compound Interest

Introduction:

Compound Interest: The difference between the amount and the money borrowed is called the compound interest for given period of time.

Important Formula:

Case 1: Let principal =P; time =n years; and rate = r% per annum and let A be the total amount at the end of n years, then

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