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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:

Rs 260200 is divided between Ram and Shyam so that the amount that Ram receives in 3 years is the same as that Shyam receives in 6 years. If the interest is compounded annually at the rate of 4% per annum then Ram's share is

A) 125000 B) 135200
C) 152000 D) 108200
 
Answer & Explanation Answer: B) 135200

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Q:

What is the Compound interest on Rs. 5000 in 3 years, if the rate of interest is 4% for the first year, 3% for the second year and 2% for the third year?

A) Rs. 435.21 B) Rs. 453.12
C) Rs. 436.12 D) Rs. 463.12
 
Answer & Explanation Answer: D) Rs. 463.12

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Q:

What is the compound interest (in Rs) for 1 year on a sum of Rs 20000 at the rate of 40% per annum compounding half yearly?

A) 8000 B) 8650
C) 8750 D) 8800
 
Answer & Explanation Answer: D) 8800

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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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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 loan of Rs. 305 was taken at a certain rate per annum of compound interest, for 3 years. After 3 years the amount repaid was Rs. 670, calculate the rate of compound interest.

A) 30% B) 35%
C) 33% D) 25%
 
Answer & Explanation Answer: A) 30%

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Q:

At what rate of compound interest per annum will a sum of Rs 20000 become Rs 23328 in 2 years?

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

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Q:

A sum of Rs 4000 becomes Rs 6000 in 1 year at a certain rate of compound interest. What will be the sum (in Rs) after 4 years?

A) 16250 B) 12000
C) 20250 D) 19500
 
Answer & Explanation Answer: C) 20250

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