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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:

In how many years will Rs 25,000 yield Rs 8,275 as compound interest at 10% per annum compounded annually?

A) 2 B) 4
C) 3 D) 5
 
Answer & Explanation Answer: C) 3

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3 1533
Q:

A bank offers 20% compound interest per half year. A customer deposits Rs 6000 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 7680 B) Rs 3840
C) Rs 1920 D) Rs 960
 
Answer & Explanation Answer: B) Rs 3840

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0 1529
Q:

The compound interest earned in two years at 12% per annum is Rs 10176. What is the sum (in Rs) invested?

A) 50000 B) 60000
C) 40000 D) 80000
 
Answer & Explanation Answer: C) 40000

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1 1526
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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5 1523
Q:

In what time(in years) will Rs. 8000 amount to Rs. 9261 at 5% per annum, compounded annually?

A) 3 B) 3.5
C) 4 D) 4.5
 
Answer & Explanation Answer: A) 3

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1 1512
Q:

The amount received at 10% per annum compound interest after 3 yrs is Rs 10,648. What was the principal (in Rs)?

A) 8000 B) 9000
C) 8500 D) 7500
 
Answer & Explanation Answer: A) 8000

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1 1508
Q:

A certain sum when invested at 5% interest compounded annually for 3 years yields an interest of Rs.2522. Find the Principal?

A) Rs. 12,522 B) Rs. 15,200
C) Rs. 16,000 D) Rs. 17,200
 
Answer & Explanation Answer: C) Rs. 16,000

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6 1503
Q:

At what rate of compound interest per annum will a sum of Rs 20000 become Rs 25088 in 2 years?

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

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