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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:

A bank offers 15% compound interest per half year. A customer deposits Rs 2400 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 2268 B) Rs 1134
C) Rs 567 D) Rs 283
 
Answer & Explanation Answer: B) Rs 1134

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4 1905
Q:

Shams invested Rs. 5000 at 10% per annum compound interest. After n years, Shams received Rs. 1655 more. Find the value of n.

 

A) 3 years B) 4 years
C) 2 years D) 1 year
 
Answer & Explanation Answer: A) 3 years

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5 1887
Q:

At what rate of compound interest per annum will a sum of Rs 10000 become Rs 12321 in 2 years?

A) 22 percent B) 11 percent
C) 7 percent D) 15 percent
 
Answer & Explanation Answer: B) 11 percent

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Exam Prep: AIEEE , Bank Exams , CAT

12 1869
Q:

A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years does the same amount becomes Rs. 8000.

A) 2 B) 4
C) 6 D) 8
 
Answer & Explanation Answer: B) 4

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3 1860
Q:

A bank offers 5% compound interest per half year. A customer deposits Rs. 3200 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 976 B) Rs 244
C) Rs 488 D) Rs 122
 
Answer & Explanation Answer: C) Rs 488

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4 1854
Q:

A loan of Rs. 305 was taken at a certain rate per annum of compound interest, for 3 years. After 3 years the amount repaid was Rs. 670, calculate the rate of compound interest.

A) 30% B) 35%
C) 33% D) 25%
 
Answer & Explanation Answer: A) 30%

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9 1829
Q:

If Rs. 2,000 is invested at the rate of 20% per annum, compounded half-yearly, then the amount after 18 months will be:

A) Rs.2628 B) Rs.2662
C) Rs.2600 D) Rs.3200
 
Answer & Explanation Answer: D) Rs.3200

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8 1829
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 1794