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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:

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

A) Rs 6803 B) Rs 850
C) Rs 3402 D) Rs 1701
 
Answer & Explanation Answer: C) Rs 3402

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Q:

The compound interest on Rs. 4000 for 4 years at 10% per annum will be

A) Rs. 1856.40 B) Rs. 1600
C) Rs. 1856 D) Rs. 1756.60
 
Answer & Explanation Answer: A) Rs. 1856.40

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0 657
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 29160, and Rs 31492.8 respectively, what is the rate of interest?

A) 4 percent B) 8 percent
C) 16 percent D) 13 percent
 
Answer & Explanation Answer: B) 8 percent

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0 657
Q:

What would be the compound interest of Rs. 25000 for 2 yrs. at 5% per annum?

A) 2500 B) 2562.5
C) 2425.25 D) 5512.5
 
Answer & Explanation Answer: B) 2562.5

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2 656
Q:

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:

A) 30000 B) 30300
C) 3000 D) 3030
 
Answer & Explanation Answer: C) 3000

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1 653
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 32448 and Rs 33745.92 respectively, what is the rate of interest?

A) 2 percent B) 8 percent
C) 6 percent D) 4 percent
 
Answer & Explanation Answer: D) 4 percent

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1 637
Q:

Mr. Ibrahim borrowed Rs. 7500 at 5% per annum compound interest. The compound interest compounded annually for 2 years is

A) 768.75 B) 8268.75
C) 8286.75 D) 786.75
 
Answer & Explanation Answer: B) 8268.75

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Q:

What is the compound interest on Rs. 48,000 for 2 years at 20% p.a., if interest is compounded annually?

A) Rs. 69,120 B) Rs. 21,120
C) Rs. 76,800 D) Rs. 72,000
 
Answer & Explanation Answer: B) Rs. 21,120

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