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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 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:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 33708, and Rs 35730.48 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 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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Q:

If the difference between the compound interest and the simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is

A) Rs. 2000 B) Rs. 4000
C) Rs. 6000 D) Rs. 8000
 
Answer & Explanation Answer: D) Rs. 8000

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Q:

A sum of Rs 20000 becomes Rs 32000 in 12 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 2 years?

 

A) 21750 B) 22050
C) 23250 D) 24650
 
Answer & Explanation Answer: B) 22050

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Q:

There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest (in rupees) of Rs 30000 after 2 years at the same rate?

A) 6150 B) 7687.5
C) 4612.5 D) 3075
 
Answer & Explanation Answer: D) 3075

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Q:

If sum of Rs.1000 amount to Rs.1331 in 3 years, compounded annually. Then, find the rate of interest per annum?

A) 15% B) 30%
C) 10% D) 20%
 
Answer & Explanation Answer: C) 10%

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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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