Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #261

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The compound interest on a sum for 1 year at 10% per annum compounded half-yearly is Rs. 410. Find the sum.

A. Rs. 3600

B. Rs. 4200

C. Rs. 3800

D. Rs. 4000

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Correct Answer: Option D

Explanation:
CI = P[(1.05)² − 1] = 0.1025P = 410 ⇒ P = 4000.

This question belongs to: Maths Compound Interest

Question #262

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At what rate percent compound interest will Rs. 5000 amount to Rs. 5618 in 2 years?

A. 8%

B. 5%

C. 7%

D. 6%

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Correct Answer: Option D

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest

Question #263

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The simple interest on a sum for 3 years at 8% is Rs. 960. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 672.00

B. Rs. 665.60

C. Rs. 630.40

D. Rs. 678.40

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Correct Answer: Option B

Explanation:
P = 96000/(8×3) = 4000. CI = 4000[(1.08)² − 1] = 4000 × 0.1664 = Rs. 665.60.

This question belongs to: Maths Compound Interest

Question #264

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A sum of money at compound interest amounts to Rs. 12960 in 2 years and Rs. 15552 in 3 years. Find the sum.

A. Rs. 10000

B. Rs. 9000

C. Rs. 11000

D. Rs. 8000

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Correct Answer: Option B

Explanation:
Rate = (15552/12960 − 1)×100 = 20%. P = 12960 / 1.44 = 9000.

This question belongs to: Maths Compound Interest

Question #265

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The difference between CI and SI on Rs. 9800 for 2 years at 10% is:

A. Rs. 90

B. Rs. 100

C. Rs. 95

D. Rs. 98

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Correct Answer: Option D

Explanation:
D = 9800 × 0.01 = Rs. 98.

This question belongs to: Maths Compound Interest

Question #266

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A sum of money at compound interest becomes 4 times in 3 years. In how many years will it become 16 times?

A. 4 years

B. 6 years

C. 9 years

D. 5 years

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Correct Answer: Option B

Explanation:
4² = 16, so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #267

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The compound interest on Rs. 7000 at 10% per annum for 2 years is:

A. Rs. 1610

B. Rs. 1470

C. Rs. 1400

D. Rs. 1540

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Correct Answer: Option B

Explanation:
A = 7000 × 1.21 = 8470, CI = 8470 − 7000 = Rs. 1470.

This question belongs to: Maths Compound Interest

Question #268

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Find the compound interest on Rs. 24000 at 5% per annum for 2 years.

A. Rs. 2520

B. Rs. 2580

C. Rs. 2400

D. Rs. 2460

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Correct Answer: Option D

Explanation:
A = 24000 × 1.1025 = 26460, CI = 26460 − 24000 = Rs. 2460.

This question belongs to: Maths Compound Interest

Question #269

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The effective annual rate for 9% per annum compounded half-yearly is:

A. 9.10%

B. 9.30%

C. 9.25%

D. 9.20%

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Correct Answer: Option D

Explanation:
Half-yearly rate 4.5%, (1.045)² = 1.092025, effective = 9.2025% ≈ 9.20%.

This question belongs to: Maths Compound Interest

Question #270

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In how many years will Rs. 1500 amount to Rs. 1815 at 10% per annum compound interest?

A. 3 years

B. 2 years

C. 2.5 years

D. 1.5 years

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Correct Answer: Option B

Explanation:
1500(1.1)^t = 1815 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #271

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The difference between CI and SI on Rs. 3000 for 2 years at 6% is:

A. Rs. 10.80

B. Rs. 11.20

C. Rs. 10.00

D. Rs. 9.60

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Correct Answer: Option A

Explanation:
D = 3000 × (0.06)² = 3000 × 0.0036 = Rs. 10.80.

This question belongs to: Maths Compound Interest

Question #272

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A sum of money at compound interest triples in 8 years. In how many years will it become 9 times?

A. 16 years

B. 14 years

C. 18 years

D. 12 years

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Correct Answer: Option A

Explanation:
3 times in 8 years, 9 = 3² ⇒ 8 × 2 = 16 years.

This question belongs to: Maths Compound Interest

Question #273

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The compound interest on Rs. 18000 at 8% per annum for 2 years is:

A. Rs. 2995.20

B. Rs. 2952

C. Rs. 3024

D. Rs. 2880

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Correct Answer: Option A

Explanation:
A = 18000 × 1.1664 = 20995.20, CI = 20995.20 − 18000 = Rs. 2995.20.

This question belongs to: Maths Compound Interest

Question #274

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What sum will yield Rs. 410 as compound interest in 2 years at 5% per annum?

A. Rs. 4100

B. Rs. 3800

C. Rs. 4000

D. Rs. 3900

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Correct Answer: Option C

Explanation:
P = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #275

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At what rate percent compound interest will Rs. 1600 amount to Rs. 1852.20 in 3 years?

A. 7%

B. 6%

C. 5%

D. 4%

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Correct Answer: Option C

Explanation:
1600(1+r)³ = 1852.20 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #276

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The simple interest on a sum for 2 years at 7% is Rs. 280. The compound interest on the same sum for 2 years at 7% is:

A. Rs. 289.80

B. Rs. 297.20

C. Rs. 300.00

D. Rs. 294.00

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Correct Answer: Option A

Explanation:
P = 28000/(7×2) = 2000. CI = 2000[(1.07)² − 1] = 2000 × 0.1449 = 289.80.

This question belongs to: Maths Compound Interest

Question #277

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A sum of money amounts to Rs. 14400 in 2 years and Rs. 17280 in 3 years at compound interest. Find the sum.

A. Rs. 10500

B. Rs. 9000

C. Rs. 9500

D. Rs. 10000

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Correct Answer: Option D

Explanation:
Rate = (17280/14400 − 1) × 100 = 20%. P = 14400 / (1.2)² = 14400 / 1.44 = 10000.

This question belongs to: Maths Compound Interest

Question #278

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The difference between CI and SI on Rs. 4200 for 2 years at 5% is:

A. Rs. 9.00

B. Rs. 10.50

C. Rs. 12.00

D. Rs. 8.40

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Correct Answer: Option B

Explanation:
D = 4200 × 0.0025 = Rs. 10.50.

This question belongs to: Maths Compound Interest

Question #279

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A sum of money at compound interest doubles in 10 years. In how many years will it become 32 times?

A. 60 years

B. 40 years

C. 50 years

D. 45 years

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Correct Answer: Option C

Explanation:
32 = 2⁵, so 10 × 5 = 50 years.

This question belongs to: Maths Compound Interest

Question #280

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The compound interest on Rs. 2700 at 10% per annum for 2 years is:

A. Rs. 600

B. Rs. 567

C. Rs. 612

D. Rs. 594

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Correct Answer: Option B

Explanation:
A = 2700 × 1.21 = 3267, CI = 3267 − 2700 = Rs. 567.

This question belongs to: Maths Compound Interest

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