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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:

The compound interest earned in two years at 12% per annum is Rs 10176. What is the sum (in Rs) invested?

A) 50000 B) 60000
C) 40000 D) 80000
 
Answer & Explanation Answer: C) 40000

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Q:

Find the compound interest on Rs. 62500 at 21% per annum for 1.5 years.

A) Rs. 20695 B) Rs. 19687.5
C) Rs. 20687.5 D) Rs. 21638.5
 
Answer & Explanation Answer: C) Rs. 20687.5

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4 880
Q:

If the amount received at the end of 2nd and 3rd year at compound interest on a certain Principal is Rs 30250, and Rs 33275 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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3 875
Q:

A sum of Rs 10000 becomes Rs 14641 when invested at compound interest at the yearly interest rate of 20% per annum. If the compounding is done half yearly, then for how many years was the sum invested?

 

A) 1 B) 2
C) 3 D) 4
 
Answer & Explanation Answer: B) 2

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2 875
Q:

At what rate of compound interest per annum will a sum of Rs 20000 become Rs 25088 in 2 years?

A) 24 percent B) 8 percent
C) 12 percent D) 16 percent
 
Answer & Explanation Answer: C) 12 percent

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0 862
Q:

If compound interest received on a certain amount in the 3rd year is Rs. 1,240, what will be the compound interest (in Rs) for the 4th year on the same amount at 9% rate of interest?

A) 1245.6 B) 1521.6
C) 1351.6 D) 1220.6
 
Answer & Explanation Answer: C) 1351.6

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0 850
Q:

The sum for 2 years gives a compound interest of Rs 3225 at 15% rate. Then sum is

A) 10000 B) 20000
C) 15000 D) 32250
 
Answer & Explanation Answer: A) 10000

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0 849
Q:

A bank offers 20% compound interest calculated on half year basis. A customer deposits Rs 9200 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 11776 B) Rs 2944
C) Rs 1472 D) Rs 5888
 
Answer & Explanation Answer: D) Rs 5888

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2 843