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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:

What is the rate of interest (in %) if simple interest earned on a certain sum for the 3rd year is Rs 2,000 and compound interest earned in 2 years is Rs 4,160?

A) 8 B) 10
C) 12 D) 6
 
Answer & Explanation Answer: A) 8

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0 1871
Q:

If a sum of Rs.12500 is invested for 1 year at 12% per annum interest being compounded semi­-annually, then interest earned is

A) Rs.1505 B) Rs.1535
C) Rs.1545 D) Rs.1550
 
Answer & Explanation Answer: C) Rs.1545

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6 1860
Q:

At what rate of compound interest per annum will a sum of Rs 50000 become Rs 73205 in 2 years?

A) 21 percent B) 19 percent
C) 17 percent D) 15 percent
 
Answer & Explanation Answer: A) 21 percent

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2 1852
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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8 1809
Q:

The compound interest earned in two years at 8% per annum is Rs 4160. What is the sum (in Rs) invested?

A) 24000 B) 25000
C) 30000 D) 20000
 
Answer & Explanation Answer: B) 25000

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8 1807
Q:

A bank offers 10% compound interest per half year. A customer deposits Rs. 3600 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 1116 B) Rs 2232
C) Rs 558 D) Rs 279
 
Answer & Explanation Answer: A) Rs 1116

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1 1792
Q:

In how many months will Rs 8,000 yield Rs 2,648 as compound interest at 20% per annum compounded semi-annually?

A) 18 B) 24
C) 12 D) 30
 
Answer & Explanation Answer: A) 18

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1 1792
Q:

Gitesh took a loan for 4 years at 5% Compound Interest. If the total interest paid was Rs. 431.01, Calculate the principal.

A) Rs. 2000 B) Rs. 2050
C) Rs. 2100 D) Rs. 2150
 
Answer & Explanation Answer: A) Rs. 2000

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3 1766