This practice GMAT test includes only GMAT compound interest, which are part of the GMAT problem solving section.
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Find the amount on $8000 in 9 months at 20% per annum, if the interest being compounded quarterly
A. $9261
B. $1261
C. $9621
D. $9162
E. $9168
Every year an amount increases by 1/8th of itself. How much will it be after two years if its present value is $64000?
A. $81000
B. $75000
C. $64000
D. $80000
E. $82000
Rony borrowed $4000 at 5% p.a compound interest. After 2 years, he repaid $2210 and after 2 more years, the balance with interest. What was the total amount that he paid as interest?
A. $635.50
B. $675.50
C. $613.50
D. $653.50
E. $623.50
Karin gave Jony $1250 on compound interest for 2 years at 4% per annum. How much loss would Karin have suffered had she given it to Jony for 2 years at 4% per annum simple interest?
A. $10
B. $3
C. $2
D. $5
E. $7
In one year, the population, of a village increased by 10% and in the next year, it decreased by 10%. If at the end of 2nd year, the population was 7920, what was it in the beginning?
A. 8400
B. 8000
C. 8100
D. 8500
E. 8200
How much more would $20,000 fetch, after two years, if it is put at 20% p.a. compound interest payable half yearly than if it is put at 20% p.a. compound interest payable yearly?
A. $842
B. $512
C. $482
D. $424
E. $802
A money lender lends $2000 for six months at 20% p.a. rate. If the interest is reckoned quarterly, then find the amount given after time limit.
A. $2040
B. $2205
C. $2200
D. $2160
E. $2060
A sum of $1200 amount to $1320 in two years at simple interest. What will be the compound interest on the same sum at the same rate of interest for the same period.
A. $123
B. $126
C. $128
D. $130
E. Data insufficient for the answer
The population of a city increases at the rate of 4% p.a. but there is an additional annual increase of 1% in the population due to some job seekers. The percentage increase in the population after 2 years is
A. 10.50
B. 10
C. 10.25
D. 11
E. 8
Find the amount on $5000 in 2 years, the rate of interest being 4% per first year and 5% for the second year
A. $460
B. $5460
C. $5640
D. $5604
E. $5704
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