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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:

If compound interest received on a certain amount in the 3rd year is Rs. 12,100, what will be the compound interest (in Rs) for the 4th year on the same amount if rate of interest is 9%?

A) 17080 B) 15669
C) 13189 D) 14376
 
Answer & Explanation Answer: C) 13189

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Q:

A sum of Rs 6000 becomes Rs 7200 in 2 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 3 years?

 

A) 7434   B) 8244  
C) 7864   D) 7986
 
Answer & Explanation Answer: D) 7986

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Q:

What is the difference (in Rs) between the compound interests on Rs. 4000 for 1 year at 12% per annum compounded yearly and half-yearly?

A) 14.4 B) 12.4
C) 10.4 D) 16.4
 
Answer & Explanation Answer: A) 14.4

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3 1763
Q:

If the compound interest for the 3rd and 4th year on a certain principal is Rs 125 and Rs 135 respectively, what is the rate of interest (in %)?

A) 9 B) 10
C) 8 D) 12
 
Answer & Explanation Answer: C) 8

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Q:

The amount received at 10% per annum Compound interest after 3 yrs is Rs 5324. What was the principal (in Rs)?

A) 4100 B) 4200
C) 4000 D) 4300
 
Answer & Explanation Answer: C) 4000

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Q:

What is the compound interest earned on Rs 80,000 at 40% per annum in 1 year compounded quarterly?

A) 28317 B) 37128
C) 18732 D) 21387
 
Answer & Explanation Answer: B) 37128

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Q:

The difference between the compound interest (compounding annually) and simple interest on a sum at the rate of 12% per annum for 2 years is Rs 360. What is the sum (in Rs)?

A) 27000 B) 32000
C) 30000 D) 25000
 
Answer & Explanation Answer: D) 25000

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Q:

What is the difference (in Rs) in Compound interest earned in 1 year on a sum of Rs 25,000 at 20% per annum compounded semi-annually and annually?

A) 125 B) 250
C) 500 D) 375
 
Answer & Explanation Answer: B) 250

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