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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:

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 1130
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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0 1128
Q:

If sum of Rs.1000 amount to Rs.1331 in 3 years, compounded annually. Then, find the rate of interest per annum?

A) 15% B) 30%
C) 10% D) 20%
 
Answer & Explanation Answer: C) 10%

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5 1123
Q:

If the amount received at 10% per annum Compound interest after 3 yrs is Rs 19965, then what will have been the principal (in Rs) amount?

A) 16000 B) 15000
C) 17000 D) 18000
 
Answer & Explanation Answer: B) 15000

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2 1121
Q:

A sum of Rs 6000 becomes Rs 7200 in 2 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is done yearly), then what will be the amount (in Rs) after 3 years?

 

A) 7434   B) 8244  
C) 7864   D) 7986
 
Answer & Explanation Answer: D) 7986

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4 1109
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 1086
Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 1,800, and Rs 1,926 respectively, what is the rate of interest?

A) 7.5% B) 7%
C) 6% D) 6.5%
 
Answer & Explanation Answer: B) 7%

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0 1085
Q:

If the difference of the compound interest and the simple interest on a sum of money for 3 years is Rs. 186. Find the sum of money, if the rate of interest in both case be 10%

A) Rs. 5500 B) Rs.7200
C) Rs.6500 D) Rs.6000
 
Answer & Explanation Answer: D) Rs.6000

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