Start learning →

How much more did compounding earn Abena than simple interest?

A$8.46
B$6.48
C$4.68
D$4.86
Answer & Solution
Correct answer: D. $4.86
1. The compound value was $1,124.86. 2. The simple value would have been $1,120.00. 3. The difference is $4.86. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
Practise this question with Quill — IBPS Clerk →

Keep practising Interest

Browse all Interest questions for IBPS Clerk, or explore more Quantitative Aptitude topics.

Start a Interest lesson →
Related questions
Spot the one that does not fitDoes it raise the interest or lower it?Pick the right answer, quicklyFill the gaps on interestOrder the steps of a loan calculationTrue or false about simple interestWork out the simple interestMatch each term to what it means