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 Compound Interest Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  COMPOUND  INTEREST  QUESTIONS

 

 

Let Principal = P, Rate = R% per annum, Time = n years.

I.

1.  When interest is compound Annually:

Amount =P1+R100n

2.  When interest is compounded Half-yearly:

Amount = P1+(R2)1002n

3.  When interest is compounded Quarterly:

Amount = P1+R41004n

 

II.

1.  When interest is compounded Annually but time is in fraction, say 325 years.

Amount = P1+R1003×1+25R100

2.  When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.

Then, Amount = P1+R11001+R21001+R3100

 

III.  Present worth of Rs. x due n years hence is given by:

Present Worth = x1+R100n

Q:

There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest of Rs. 36000 after 2 years at the same rate?

A) Rs 6150 B) Rs 7687.5
C) Rs 3690 D) Rs 4612.5
 
Answer & Explanation Answer: C) Rs 3690

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Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate of interest?

A) 10 percent B) 5 percent
C) 20 percent D) 16 percent
 
Answer & Explanation Answer: A) 10 percent

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Q:

What is the difference (in Rs) between the compound interests on Rs. 1000 for 1 year at 10% per annum compounded yearly and half-yearly?

A) 1.5 B) 0.5
C) 2.5 D) 3.5
 
Answer & Explanation Answer: C) 2.5

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Q:

There is 40% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 25000 after 3 years at the same rate?

A) Rs 6492.8 B) Rs 12985.6
C) Rs 16232 D) Rs 9739.2
 
Answer & Explanation Answer: A) Rs 6492.8

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Q:

On a certain principal if the simple interest for two years is Rs 2800 and compound interest for the two years is Rs 2996, what is the rate of Interest?

A) 14 percent B) 7 percent
C) 28 percent D) 21 percent
 
Answer & Explanation Answer: A) 14 percent

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Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 1,800, and Rs 1,926 respectively, what is the rate of interest?

A) 7.5% B) 7%
C) 6% D) 6.5%
 
Answer & Explanation Answer: B) 7%

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Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 28090, and Rs 29775.4 respectively, what is the rate of interest?

A) 6 percent B) 3 percent
C) 12 percent D) 10 percent
 
Answer & Explanation Answer: A) 6 percent

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Q:

The compound interest on Rs. 1000 at 10% per annum for 3 years in (Rs.) is

A) Rs. 1331 B) Rs. 331
C) Rs. 300 D) Rs. 1300
 
Answer & Explanation Answer: B) Rs. 331

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