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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:

The difference between compound interest and simple interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the sum of money?

A) Rs.7200 B) Rs.9600
C) Rs.16400 D) Rs.8400
 
Answer & Explanation Answer: C) Rs.16400

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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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4 731
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 25088, and Rs 28098.56 respectively, what is the rate of interest?

A) 6 percent B) 24 percent
C) 12 percent D) 19 percent
 
Answer & Explanation Answer: C) 12 percent

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2 730
Q:

In 3 years Rs 3000 amounts to Rs 3993 at x% compound interest, compounded annually. The value of x is

A) 10 B) 8
C) 5 D) 3 1/3
 
Answer & Explanation Answer: A) 10

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0 728
Q:

What is the difference between the maturity values, if Rs. 12500 is invested for 2 years at 20% per annum simple interest and compound interest?

A) Rs. 750 B) Rs. 650
C) Rs. 550 D) Rs. 500
 
Answer & Explanation Answer: D) Rs. 500

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2 704
Q:

If the amount received at the end of 2nd and 3rd year as Compound Interest on a certain Principal is Rs 2100, and Rs 2268 respectively, what is the rate (in %) of interest?

A) 7 B) 8
C) 9 D) 10
 
Answer & Explanation Answer: B) 8

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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 16854, and Rs 17865.24 respectively, what is the rate of interest?

A) 3 percent B) 12 percent
C) 6 percent D) 10 percent
 
Answer & Explanation Answer: C) 6 percent

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2 694
Q:

A bank offers 10% compound interest per half year. A customer deposits Rs. 2000 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 1240 B) Rs 310
C) Rs 155 D) Rs 620
 
Answer & Explanation Answer: D) Rs 620

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