IBPS Clerk Interest — practice questions
64 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice IBPS Clerk Interest in the app →Interest, in the banking sense, is best described as:A sum of 10,000 is borrowed at 15% per annum simple interest for 2 years. The amount repayable is:Find the simple interest on 15,000 at 5% per annum for 2 years.Compound interest differs from simple interest because compound interest is calculated on:20,000 is borrowed for 2 years at 8% compounded annually. The compound interest is:For 10,000 at 10% per annum for 2 years, compound interest exceeds simple interest by:Find the simple interest on 5,000 at 8% per annum for 3 years.At simple interest, a sum doubles itself in 8 years. The annual rate is:For the same principal, rate and a period of one year, compound interest compounded annually is:The extra money a borrower pays back beyond the amount borrowed is:Money earned by a depositor at a bank is also called:The percent of principal paid as interest each year is the annual:The length of time until a loan must be paid off is its:The day a loan is issued is called the:Simple interest differs from a plain percent calculation by also being:The total a borrower must repay is often called the loan:Interest paid to a lender is almost always rounded:When the future value is paid out, the amount is typically rounded:In the future value formula, the amount invested at the start is the:A term given in months is converted to years by dividing by:A term given in days is converted to years using a denominator of:An investment reaching a future value of $1,100.50 ran for:In one worked example the interest earned came to:A deposit example uses an annual simple interest rate in decimal form of:Someone who invests in a company's stock acts as the:Simple interest is paid only on the original principal and the:Compound interest is paid at regular:After each interval, compound interest is added to the:Later interest is calculated on the principal plus the interest:The growth of a compounding account follows a:Abena invested $1,000 in a CD earning what annual rate?Abena's CD compounded annually was worth how much after 3 years?Had Abena taken simple interest instead, her CD would have been worth:How much more did compounding earn Abena than simple interest?Oksana deposited $5,000 in a CD earning what annual rate?Oksana's CD was worth how much after 4 years?Compounding monthly for 30 years would need how many periods?Working out 360 periods one by one is described as:Compounding monthly means the number of periods per year is:Compounding quarterly means the number of periods per year is:A CD in these examples stands for a certificate of:Cody's account at 4.5 per cent compounded how many times a year?The word percent comes from a Latin phrase meaning:Any percent is a number divided by:Can a percent be greater than 100?The amount borrowed on which interest is charged is the:The percent of principal paid as interest each year is the:Simple interest is calculated on:To find simple interest, the percent calculation is multiplied by the:The principal plus the interest owed is called the loan:Simple interest on 4,000 rupees at 5.5 per cent for 4 years is:Simple interest on 20,000 rupees at 6.75 per cent for 4 months is:Simple interest on 5,000 rupees at 6 per cent for 3 years is:Simple interest on 8,000 rupees at 5 per cent for 2 years is:Simple interest on 12,000 rupees at 10 per cent for 6 months is:Simple interest on 15,000 rupees at 4 per cent for 5 years is:A 10,000 rupee loan at 8 per cent for 3 years has a payoff of:A 6,000 rupee loan at 5 per cent for 2 years has a payoff of:For a loan quoted in days, the daily rate divides the annual rate by:The day count convention described as Actual is paired with:Some banks instead treat a year as having how many days?Using 360 rather than 365 days makes the interest charged:Money the depositor earns from a bank account is also called:The total value of an investment after interest is added is its: