Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #301

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What sum will amount to Rs. 8820 in 2 years at 5% compound interest?

A. Rs. 8000

B. Rs. 7800

C. Rs. 8400

D. Rs. 8200

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Correct Answer: Option A

Explanation:
P = 8820 / 1.1025 = 8000.

This question belongs to: Maths Compound Interest

Question #302

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The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 4310.12. The sum is:

A. Rs. 18000

B. Rs. 19000

C. Rs. 21000

D. Rs. 20000

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Correct Answer: Option D

Explanation:
CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 4310.125 ⇒ P = 4310.125 / 0.21550625 = 20000.

This question belongs to: Maths Compound Interest

Question #303

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At what rate percent compound interest will Rs. 6000 amount to Rs. 7260 in 2 years?

A. 12%

B. 8%

C. 10%

D. 15%

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Correct Answer: Option C

Explanation:
6000(1+r)² = 7260 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #304

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The simple interest on a sum for 2 years at 12% is Rs. 720. The compound interest on the same sum for 2 years at 12% is:

A. Rs. 763.20

B. Rs. 768.00

C. Rs. 760.00

D. Rs. 752.64

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Correct Answer: Option A

Explanation:
P = 72000/(12×2) = 3000. CI = 3000[(1.12)² − 1] = 3000 × 0.2544 = 763.20.

This question belongs to: Maths Compound Interest

Question #305

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A sum of money amounts to Rs. 11025 in 2 years and Rs. 11576.25 in 3 years at compound interest. Find the sum.

A. Rs. 9500

B. Rs. 10500

C. Rs. 10000

D. Rs. 9000

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Correct Answer: Option C

Explanation:
Rate = (11576.25/11025 − 1) × 100 = 5%. P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

Question #306

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The difference between CI and SI on Rs. 3600 for 2 years at 5% is:

A. Rs. 10.00

B. Rs. 8.00

C. Rs. 9.00

D. Rs. 7.20

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Correct Answer: Option C

Explanation:
D = 3600 × 0.0025 = Rs. 9.

This question belongs to: Maths Compound Interest

Question #307

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A sum of money at compound interest triples in 7 years. In how many years will it become 27 times?

A. 21 years

B. 14 years

C. 18 years

D. 28 years

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Correct Answer: Option A

Explanation:
27 = 3³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

Question #308

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The compound interest on Rs. 4600 at 10% per annum for 2 years is:

A. Rs. 1058

B. Rs. 1012

C. Rs. 1100

D. Rs. 966

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Correct Answer: Option D

Explanation:
A = 4600 × 1.21 = 5566, CI = 5566 − 4600 = Rs. 966.

This question belongs to: Maths Compound Interest

Question #309

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Find the compound interest on Rs. 13200 at 10% per annum for 2 years.

A. Rs. 2640

B. Rs. 2772

C. Rs. 3000

D. Rs. 2904

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Correct Answer: Option B

Explanation:
A = 13200 × 1.21 = 15972, CI = 15972 − 13200 = Rs. 2772.

This question belongs to: Maths Compound Interest

Question #310

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The effective annual rate for 5% per annum compounded quarterly is:

A. 5.09%

B. 5.15%

C. 5.10%

D. 5.12%

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Correct Answer: Option A

Explanation:
Quarterly rate 1.25%, (1.0125)⁴ = 1.050945, effective = 5.0945% ≈ 5.09%.

This question belongs to: Maths Compound Interest

Question #311

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In how many years will Rs. 3500 amount to Rs. 4235 at 10% per annum compound interest?

A. 1 year

B. 1.5 years

C. 2 years

D. 2.5 years

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Correct Answer: Option C

Explanation:
3500(1.1)^t = 4235 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #312

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The difference between CI and SI on Rs. 5200 for 2 years at 10% is:

A. Rs. 50

B. Rs. 48

C. Rs. 52

D. Rs. 55

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Correct Answer: Option C

Explanation:
D = 5200 × 0.01 = Rs. 52.

This question belongs to: Maths Compound Interest

Question #313

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A sum of money at compound interest becomes 9 times in 4 years. In how many years will it become 81 times?

A. 6 years

B. 8 years

C. 10 years

D. 7 years

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Correct Answer: Option B

Explanation:
81 = 9², so 4 × 2 = 8 years.

This question belongs to: Maths Compound Interest

Question #314

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The compound interest on Rs. 2900 at 10% per annum for 2 years is:

A. Rs. 638

B. Rs. 580

C. Rs. 609

D. Rs. 667

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Correct Answer: Option C

Explanation:
A = 2900 × 1.21 = 3509, CI = 3509 − 2900 = Rs. 609.

This question belongs to: Maths Compound Interest

Question #315

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What sum will amount to Rs. 11576.25 in 2 years at 5% per annum compound interest?

A. Rs. 10500

B. Rs. 10750

C. Rs. 10250

D. Rs. 10000

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Correct Answer: Option A

Explanation:
P = 11576.25 / 1.1025 = 10500.

This question belongs to: Maths Compound Interest

Question #316

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The compound interest on a sum for 2 years at 12% is Rs. 381.60. The sum is:

A. Rs. 1600

B. Rs. 1700

C. Rs. 1500

D. Rs. 1400

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Correct Answer: Option C

Explanation:
CI = P × 0.2544 = 381.60 ⇒ P = 1500.

This question belongs to: Maths Compound Interest

Question #317

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At what rate percent compound interest will Rs. 2700 amount to Rs. 3267 in 2 years?

A. 12%

B. 15%

C. 8%

D. 10%

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Correct Answer: Option D

Explanation:
2700(1+r)² = 3267 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #318

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The simple interest on a sum for 2 years at 4% is Rs. 320. The compound interest on the same sum for 2 years at 4% is:

A. Rs. 326.40

B. Rs. 332.80

C. Rs. 339.20

D. Rs. 345.60

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Correct Answer: Option A

Explanation:
P = 32000/(4×2) = 4000. CI = 4000 × 0.0816 = 326.40.

This question belongs to: Maths Compound Interest

Question #319

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A sum of money at compound interest becomes 6 times in 3 years. In how many years will it become 36 times?

A. 4 years

B. 5 years

C. 9 years

D. 6 years

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Correct Answer: Option D

Explanation:
36 = 6², so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #320

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The compound interest on Rs. 7800 at 10% per annum for 2 years is:

A. Rs. 1872

B. Rs. 1716

C. Rs. 1794

D. Rs. 1638

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Correct Answer: Option D

Explanation:
A = 7800 × 1.21 = 9438, CI = 9438 − 7800 = Rs. 1638.

This question belongs to: Maths Compound Interest

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