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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 compound interest earned in two years at 15% per annum is Rs 20640. What is the sum invested (in Rs)?

A) 64000 B) 60000
C) 56000 D) 52000
 
Answer & Explanation Answer: A) 64000

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3 1032
Q:

On a certain principal if the simple interest for two years is Rs 1400 and compound interest for the two years is Rs 1449, what is the rate of Interest?

A) 7 percent B) 3.5 percent
C) 14 percent D) 10 percent
 
Answer & Explanation Answer: A) 7 percent

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4 1026
Q:

A bank offers 10% compound interest per half year. A customer deposits Rs. 3600 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 1116 B) Rs 2232
C) Rs 558 D) Rs 279
 
Answer & Explanation Answer: A) Rs 1116

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0 1019
Q:

At what rate of compound interest (in %) per annum will a sum of Rs. 15,000 become Rs. 18,150 in 2 years?

A) 11 B) 10
C) 9 D) 12
 
Answer & Explanation Answer: B) 10

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4 1009
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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5 999
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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1 991
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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1 983
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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2 983