Compound Interest : Aptitude Questions and Answers

Q11. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is :

A. 625

B. 640

C. 630

D. 650

Q12. Mr. Dua invested money in two schemes A and B offering compound interest @ 8, p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two schemes together in two years was Rs. 4818.30 and the total amount invested was Rs. 27,000, what was the amount invested in Scheme A ?

A. Rs. 15,000

B. Rs. 13,500

C. Rs. 12,000

D. Rs. 14,000

Q13. In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually ?

A. 3 years

B. 8 years

C. 4 years

D. 1 years

Q14. The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per – annum reckoned half – yearly is :

A. Rs. 3

B. Rs. 3.75

C. Rs. 4

D. Rs. 2.50

Q15. A sum of money is borrowed and paid back in two annual instalments of Rs. 882 each allowing 5% compound interest. The sum borrowed was :

A. Rs. 1680

B. Rs. 1620

C. Rs. 1700

D. Rs. 1640

Q16. What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years ?

A. Rs. 64.10

B. Rs. 31

C. Rs. 40.40

D. Rs. 32.10

Q17. A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is

A. Rs. 121

B. Rs. 122

C. Rs. 120

D. Rs. 123

Q18. Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit ?

A. Rs. 8600

B. Rs. 8620

C. Rs. 8800

D. Rs. 8820

Q19. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is :

A. Rs. 800

B. Rs. 600

C. Rs. 500

D. Rs. 400

Q20. If the compound interest on a sum for 2 years at 25/2% per annum is Rs. 510, the simple interest on the same sum at the same rate for the same period of time is :

A. Rs. 480

B. Rs. 460

C. Rs. 450

D. Rs. 400