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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 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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5 1598
Q:

On a certain principal, simple interest amounts to Rs. 2,000 in two years at the rate of 10% p.a. What will be the difference in the amount of interest if the same is compounded on annual basis?

A) Rs.200 B) Rs.220
C) Rs.100 D) Rs.120
 
Answer & Explanation Answer: C) Rs.100

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6 1586
Q:

If the amount received at the end of 2nd and 3rd year at compound interest on a certain Principal is Rs 30250, and Rs 33275 respectively, what is the rate of interest?

A) 10 percent B) 5 percent
C) 20 percent D) 16 percent
 
Answer & Explanation Answer: A) 10 percent

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3 1579
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 1573
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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0 1560
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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0 1546
Q:

The compound interest on Rs. 24000 at 10% per annum for 11⁄2 years, interest being compounded semi­annually is

A) Rs.3783 B) Rs.3777
C) Rs.3780 D) Rs.3781
 
Answer & Explanation Answer: A) Rs.3783

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2 1482
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate of interest?

A) 10 percent B) 5 percent
C) 20 percent D) 16 percent
 
Answer & Explanation Answer: A) 10 percent

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0 1479