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Compound Interest Questions and Answers
Q1. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is :
A. 4
B. 2
C. 3
D. 5/2
Q2. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same sum at the same rate and for the same time ?
A. Rs. 52
B. Rs. 60
C. Rs. 54.25
D. Rs. 51.25
Q3. The simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is :
A. Rs. 1550
B. Rs. 2000
C. Rs. 1750
D. Rs. 1650
Q4. The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum ?
A. Rs. 10,000
B. Rs. 6000
C. Rs. 12,000
D. Rs. 8000
Q5. A man saves Rs. 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years ?
A. Rs. 635
B. Rs. 662.02
C. Rs. 565.25
D. Rs. 666.50
Q6. On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is :
A. 11%
B. 10%
C. 10.5%
D. 12%
Q7. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is :
A. 4
B. 3
C. 5
D. 6
Q8. What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a. ?
A. Rs. 9720
B. Rs. 10483.20
C. Rs. 9000.30
D. Rs. 10123.20
Q9. What is the difference between the compound interests on Rs. 5000 for 1.5 years at 4% per annum compounded yearly and half – yearly ?
A. Rs. 3.06
B. Rs. 2.04
C. Rs. 8.30
D. Rs. 4.80
Q10. Sam invested Rs. 15,000 @ 10% per annum for one year. If the interest is compounded half – yearly, then the amount received by Sam at the end of the year will be :
A. Rs. 16,500
B. Rs. 18,150
C. Rs. 16,537.50
D. Rs. 16,525.50
