Class VIII The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is: 3 4 5 6 A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is: Rs. 120 Rs. 121 Rs. 122 Rs. 123 The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is: Rs. 2.50 Rs. 3 Rs. 3.75 . Rs. 4 The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: 6.06% 6.07% 6.08% 6.09% The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is: Rs. 400 Rs. 500 Rs. 600 Rs. 800 Do you really want to submit this quiz? Cancel Submit Quiz