Compound Interest problems
- 1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 5% per annum is Rs 45. The sum is
Options- A. Rs 36000
- B. Rs 72000
- C. Rs 18000
- D. Rs 54000 Also asked in: Bank Exams
Correct Answer: Rs 18000
- 2. In what time(in years) will Rs. 8000 amount to Rs. 9261 at 5% per annum, compounded annually?
Options- A. 3
- B. 3.5
- C. 4
- D. 4.5 Also asked in: Bank Exams
Correct Answer: 3
- 3. The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is:
Options- A. 30000
- B. 30300
- C. 3000
- D. 3030 Also asked in: Bank Exams
Correct Answer: 3000
- 4. A sum of money is invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more if interest is compounded half-yearly. The sum
Options- A. Rs.15,000
- B. Rs.30,000
- C. Rs.20,000
- D. Rs.7,500 Also asked in: Bank Exams
Correct Answer: Rs.30,000
- 5. What is the compound interest earned on Rs 80,000 at 40% per annum in 1 year compounded quarterly?
Options- A. 28317
- B. 37128
- C. 18732
- D. 21387 Also asked in: Bank Exams
Correct Answer: 37128
- 6. The amount received at 10% per annum compound interest after 3 yrs is Rs 10,648. What was the principal (in Rs)?
Options- A. 8000
- B. 9000
- C. 8500
- D. 7500 Also asked in: Bank Exams
Correct Answer: 8000
- 7. A bank offers 15% compound interest per half year. A customer deposits Rs 7200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by means of interest is
Options- A. Rs 6803
- B. Rs 850
- C. Rs 3402
- D. Rs 1701 Also asked in: Bank Exams
Correct Answer: Rs 3402
- 8. If the amount received at the end of 2nd and 3rd year at compound Interest on a certain Principal is Rs 9,600 and Rs 10,272 respectively, what is the rate of interest (in %)?
Options- A. 7
- B. 8
- C. 6
- D. 5 Also asked in: Bank Exams
Correct Answer: 7
- 9. Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.
Options- A. Rs.2522
- B. Rs.2422
- C. Rs.3522
- D. Rs.2322 Also asked in: Bank Exams, Bank PO
Correct Answer: Rs.2522
Explanation:
Principal = Rs.16,000;
Time=9 months = 3 quarters;
Amount
=Rs.[16000x(1+5/100)³] =[16000x21/20x21/20x21/20]
= Rs.18522.
C.I
= Rs.(18522 - 16000)
= Rs.2522.
- 10. What is the difference between the compound interests on Rs. 5000 for 112 years at 4% per annum compounded yearly and half-yearly?
Options- A. Rs.3.06
- B. Rs.2.04
- C. Rs.3.65
- D. Rs.5.40 Also asked in: Bank Exams, Bank PO
Correct Answer: Rs.2.04
Explanation:
C.I. when interest compounded yearly
=Rs.5034
C.I. when interest iscompounded half-yearly
= Rs. 5306.04
Difference = Rs. (5306.04 - 5304) = Rs. 2.04
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