Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #281

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Find the compound interest on Rs. 5600 at 5% per annum for 2 years.

A. Rs. 560

B. Rs. 600

C. Rs. 574

D. Rs. 588

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Correct Answer: Option C

Explanation:
A = 5600 × 1.1025 = 6174, CI = 6174 − 5600 = Rs. 574.

This question belongs to: Maths Compound Interest

Question #282

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The effective annual rate for 7% per annum compounded half-yearly is:

A. 7.20%

B. 7.12%

C. 7.25%

D. 7.10%

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Correct Answer: Option B

Explanation:
Half-yearly rate 3.5%, (1.035)² = 1.071225, effective = 7.1225% ≈ 7.12%.

This question belongs to: Maths Compound Interest

Question #283

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In how many years will Rs. 8000 amount to Rs. 8820 at 5% per annum compound interest?

A. 1 year

B. 2 years

C. 3 years

D. 4 years

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Correct Answer: Option B

Explanation:
8000(1.05)^t = 8820 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #284

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The difference between CI and SI on Rs. 1400 for 2 years at 10% is:

A. Rs. 13

B. Rs. 14

C. Rs. 12

D. Rs. 15

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Correct Answer: Option B

Explanation:
D = 1400 × 0.01 = Rs. 14.

This question belongs to: Maths Compound Interest

Question #285

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A sum of money at compound interest becomes 5 times in 4 years. In how many years will it become 25 times?

A. 10 years

B. 8 years

C. 6 years

D. 12 years

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Correct Answer: Option B

Explanation:
25 = 5², so 4 × 2 = 8 years.

This question belongs to: Maths Compound Interest

Question #286

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The compound interest on Rs. 1900 at 10% per annum for 2 years is:

A. Rs. 399

B. Rs. 418

C. Rs. 437

D. Rs. 380

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Correct Answer: Option A

Explanation:
A = 1900 × 1.21 = 2299, CI = 2299 − 1900 = Rs. 399.

This question belongs to: Maths Compound Interest

Question #287

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What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9400

B. Rs. 9800

C. Rs. 9600

D. Rs. 9200

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Correct Answer: Option C

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #288

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The compound interest on a sum for 3 years at 5% is Rs. 788.125. The sum is:

A. Rs. 6000

B. Rs. 4500

C. Rs. 5500

D. Rs. 5000

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Correct Answer: Option D

Explanation:
CI = P[(1.05)³ − 1] = P × 0.157625 = 788.125 ⇒ P = 788.125 / 0.157625 = 5000.

This question belongs to: Maths Compound Interest

Question #289

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At what rate percent compound interest will Rs. 2400 amount to Rs. 2646 in 2 years?

A. 7%

B. 5%

C. 6%

D. 4%

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Correct Answer: Option B

Explanation:
2400(1+r)² = 2646 ⇒ (1+r)² = 1.1025 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #290

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The simple interest on a sum for 2 years at 9% is Rs. 540. The compound interest on the same sum for 2 years at 9% is:

A. Rs. 570.00

B. Rs. 567.00

C. Rs. 561.60

D. Rs. 564.30

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Correct Answer: Option D

Explanation:
P = 54000/(9×2) = 3000. CI = 3000[(1.09)² − 1] = 3000 × 0.1881 = 564.30.

This question belongs to: Maths Compound Interest

Question #291

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A sum of money at compound interest amounts to Rs. 1352 in 2 years and Rs. 1406.08 in 3 years. Find the sum.

A. Rs. 1350

B. Rs. 1300

C. Rs. 1200

D. Rs. 1250

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Correct Answer: Option D

Explanation:
Rate = (1406.08/1352 − 1)×100 = 4%. P = 1352 / (1.04)² = 1352 / 1.0816 = 1250.

This question belongs to: Maths Compound Interest

Question #292

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The difference between CI and SI on Rs. 2500 for 2 years at 8% is:

A. Rs. 16

B. Rs. 15

C. Rs. 14

D. Rs. 17

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Correct Answer: Option A

Explanation:
D = 2500 × 0.0064 = Rs. 16.

This question belongs to: Maths Compound Interest

Question #293

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A sum of money at compound interest doubles in 12 years. In how many years will it become 64 times?

A. 84 years

B. 72 years

C. 48 years

D. 60 years

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Correct Answer: Option B

Explanation:
64 = 2⁶, so 12 × 6 = 72 years.

This question belongs to: Maths Compound Interest

Question #294

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The compound interest on Rs. 10500 at 10% per annum for 2 years is:

A. Rs. 2100

B. Rs. 2310

C. Rs. 2205

D. Rs. 2420

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Correct Answer: Option C

Explanation:
A = 10500 × 1.21 = 12705, CI = 12705 − 10500 = Rs. 2205.

This question belongs to: Maths Compound Interest

Question #295

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Find the compound interest on Rs. 2000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 330

B. Rs. 350

C. Rs. 315.25

D. Rs. 300

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Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=3. A = 2000 × (1.05)³ = 2000 × 1.157625 = 2315.25, CI = 2315.25 − 2000 = Rs. 315.25.

This question belongs to: Maths Compound Interest

Question #296

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The effective annual rate for 11% per annum compounded half-yearly is:

A. 11.25%

B. 11.35%

C. 11.30%

D. 11.50%

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Correct Answer: Option C

Explanation:
Half-yearly rate 5.5%, (1.055)² = 1.113025, effective = 11.3025% ≈ 11.30%.

This question belongs to: Maths Compound Interest

Question #297

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In how many years will Rs. 900 amount to Rs. 1089 at 10% per annum compound interest?

A. 2 years

B. 1 year

C. 1.5 years

D. 2.5 years

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Correct Answer: Option A

Explanation:
900(1.1)^t = 1089 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #298

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The difference between CI and SI on Rs. 6800 for 2 years at 10% is:

A. Rs. 70

B. Rs. 65

C. Rs. 60

D. Rs. 68

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Correct Answer: Option D

Explanation:
D = 6800 × 0.01 = Rs. 68.

This question belongs to: Maths Compound Interest

Question #299

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A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 49 times?

A. 4 years

B. 6 years

C. 5 years

D. 9 years

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Correct Answer: Option B

Explanation:
49 = 7², so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #300

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The compound interest on Rs. 3400 at 10% per annum for 2 years is:

A. Rs. 748

B. Rs. 714

C. Rs. 800

D. Rs. 780

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Correct Answer: Option B

Explanation:
A = 3400 × 1.21 = 4114, CI = 4114 − 3400 = Rs. 714.

This question belongs to: Maths Compound Interest

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