GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 18 Aug 2019, 02:01

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

A bank offers a rate of interest of 16% per annum, compounded semi ann

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Find Similar Topics 
Senior Manager
Senior Manager
avatar
D
Joined: 29 Nov 2018
Posts: 263
Concentration: Marketing, Strategy
A bank offers a rate of interest of 16% per annum, compounded semi ann  [#permalink]

Show Tags

New post 21 Jul 2019, 03:16
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

HideShow timer Statistics

A bank offers a rate of interest of 16% per annum, compounded semi-annually. What will be the approximate interest generated on an amount of Rs. 10,000 kept for 2 years?

1. Rs 3600
2. Rs 3605
3. Rs 3610
4. Rs 3615
5. Rs 3620
Intern
Intern
avatar
B
Joined: 05 Jul 2019
Posts: 27
Location: India
Schools: ISB '21
Re: A bank offers a rate of interest of 16% per annum, compounded semi ann  [#permalink]

Show Tags

New post 21 Jul 2019, 05:36
Interest = 10000*(((1+(0.16/2))^(2*2))-10000 = 3604.88 so answer will be 3605 B

Posted from my mobile device
GMAT Club Bot
Re: A bank offers a rate of interest of 16% per annum, compounded semi ann   [#permalink] 21 Jul 2019, 05:36
Display posts from previous: Sort by

A bank offers a rate of interest of 16% per annum, compounded semi ann

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Moderator: cfc198






Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne