Compound Interest — XAT Previous-Year Questions
2 previous-year questions on Compound Interest from XAT, with full solutions. Practise free — check answers as you go; sign in to save your progress.
Compound Interest · XAT PYQs
Mohan has some money (â¹M) that he divides in the ratio of 1:2. He then deposits the smaller amount in a savings scheme that offers a certain rate of interest, and the larger amount in another savings scheme that offers half of that rate of interest. Both interests compound yearly. At the end of two years, the total interest earned from the two savings schemes is â¹830. It is known that one of the interest rates is 10% and that Mohan deposited more than â¹1000 in each saving scheme at the start. What is the value of M?
In the beginning of the year 2004, a person invests some amount in a bank. In the beginning of 2007, the accumulated interest is Rs. 10,000 and in the beginning of 2010, the accumulated interest becomes Rs. 25,000. The interest rate is compounded annually and the annual interest rate is fixed. The principal amount is: