Sawaal

 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:

A man borrowed some money and agreed to pay-off by paying Rs 3150 at the end of the 1st year and Rs 4410 at the end of the 2nd year. If the rate of compound interest is 5% per annum, then the sum is

A) Rs 5000 B) Rs 6500
C) Rs 7000 D) Rs 9200
 
Answer & Explanation Answer: C) Rs 7000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

0 1405
Q:

What is the least number of complete years in which a sum of money put out at 40% annual compound interest will be more than trebled?

A) 3 B) 4
C) 5 D) 6
 
Answer & Explanation Answer: B) 4

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

6 1377
Q:

Mr. Mike borrowed Rs. 8500 at 4% per annum C.I. The C.I. compounded annally for 2 years is :

A) Rs. 9139.6 B) Rs. 639.6
C) Rs. 9193.6 D) Rs. 693.6
 
Answer & Explanation Answer: D) Rs. 693.6

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

6 1340
Q:

In how many years will Rs 2,000 yield Rs 662 as compound interest at 10% per annum compounded annually?

A) 3 B) 2
C) 4 D) 5
 
Answer & Explanation Answer: A) 3

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

6 1310
Q:

At what rate of compound interest per annum will a sum of Rs 10000 become Rs 12321 in 2 years?

A) 22 percent B) 11 percent
C) 7 percent D) 15 percent
 
Answer & Explanation Answer: B) 11 percent

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: AIEEE , Bank Exams , CAT

11 1275
Q:

If compound interest received on a certain amount in the 2nd year is Rs 1200, what will be the compound interest (in Rs) for the 4th year on the same amount at 10% rate of interest?

A) 1452 B) 1320
C) 1552 D) 1420
 
Answer & Explanation Answer: A) 1452

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

6 1253
Q:

A bank offers 5% compound interest per half year. A customer deposits Rs. 3200 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 976 B) Rs 244
C) Rs 488 D) Rs 122
 
Answer & Explanation Answer: C) Rs 488

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

3 1231
Q:

If Rs. 10000 amounts to Rs. 11664 invested in compound interest(compounded annually) for two years then the annual rate of compound interest is

A) 10% B) 9%
C) 8% D) 6%
 
Answer & Explanation Answer: C) 8%

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Compound Interest
Exam Prep: Bank Exams

1 1197