Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #321

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Find the compound interest on Rs. 14400 at 5% per annum for 2 years.

A. Rs. 1476

B. Rs. 1548

C. Rs. 1512

D. Rs. 1440

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Correct Answer: Option A

Explanation:
A = 14400 × 1.1025 = 15876, CI = 15876 − 14400 = Rs. 1476.

This question belongs to: Maths Compound Interest

Question #322

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The effective annual rate for 15% per annum compounded half-yearly is:

A. 15.25%

B. 15.56%

C. 15.50%

D. 15.75%

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Correct Answer: Option B

Explanation:
Half-yearly rate 7.5%, (1.075)² = 1.155625, effective = 15.5625% ≈ 15.56%.

This question belongs to: Maths Compound Interest

Question #323

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In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest?

A. 2.5 years

B. 2 years

C. 3 years

D. 3.5 years

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Correct Answer: Option C

Explanation:
10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #324

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The difference between CI and SI on Rs. 8400 for 2 years at 5% is:

A. Rs. 19

B. Rs. 20

C. Rs. 21

D. Rs. 18

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Correct Answer: Option C

Explanation:
D = 8400 × 0.0025 = Rs. 21.

This question belongs to: Maths Compound Interest

Question #325

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A sum of money at compound interest doubles in 15 years. In how many years will it become 128 times?

A. 105 years

B. 90 years

C. 120 years

D. 75 years

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Correct Answer: Option A

Explanation:
128 = 2⁷, so 15 × 7 = 105 years.

This question belongs to: Maths Compound Interest

Question #326

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The compound interest on Rs. 1700 at 10% per annum for 2 years is:

A. Rs. 340

B. Rs. 357

C. Rs. 374

D. Rs. 391

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Correct Answer: Option B

Explanation:
A = 1700 × 1.21 = 2057, CI = 2057 − 1700 = Rs. 357.

This question belongs to: Maths Compound Interest

Question #327

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What sum will amount to Rs. 1331 in 3 years at 10% compound interest?

A. Rs. 900

B. Rs. 1200

C. Rs. 1000

D. Rs. 1100

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Correct Answer: Option C

Explanation:
P = 1331 / 1.331 = 1000.

This question belongs to: Maths Compound Interest

Question #328

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The compound interest on a sum for 1 year at 12% per annum compounded half-yearly is Rs. 618. The sum is:

A. Rs. 4500

B. Rs. 5200

C. Rs. 4800

D. Rs. 5000

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Correct Answer: Option D

Explanation:
CI = P[(1.06)² − 1] = 0.1236P = 618 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

Question #329

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The simple interest on a sum for 3 years at 10% is Rs. 900. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 600

B. Rs. 630

C. Rs. 690

D. Rs. 660

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Correct Answer: Option B

Explanation:
P = 90000/(10×3) = 3000. CI = 3000 × 0.21 = 630.

This question belongs to: Maths Compound Interest

Question #330

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A sum of money at compound interest amounts to Rs. 18150 in 2 years and Rs. 19965 in 3 years. Find the sum.

A. Rs. 14000

B. Rs. 17000

C. Rs. 15000

D. Rs. 16000

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Correct Answer: Option C

Explanation:
Rate = (19965/18150 − 1) × 100 = 10%. P = 18150 / 1.21 = 15000.

This question belongs to: Maths Compound Interest

Question #331

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The difference between CI and SI on Rs. 9600 for 2 years at 5% is:

A. Rs. 24

B. Rs. 22

C. Rs. 20

D. Rs. 26

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Correct Answer: Option A

Explanation:
D = 9600 × 0.0025 = Rs. 24.

This question belongs to: Maths Compound Interest

Question #332

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A sum of money at compound interest becomes 5 times in 5 years. In how many years will it become 125 times?

A. 10 years

B. 20 years

C. 15 years

D. 12 years

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Correct Answer: Option C

Explanation:
125 = 5³, so 5 × 3 = 15 years.

This question belongs to: Maths Compound Interest

Question #333

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The compound interest on Rs. 2600 at 10% per annum for 2 years is:

A. Rs. 572

B. Rs. 546

C. Rs. 598

D. Rs. 520

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Correct Answer: Option B

Explanation:
A = 2600 × 1.21 = 3146, CI = 3146 − 2600 = Rs. 546.

This question belongs to: Maths Compound Interest

Question #334

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Find the compound interest on Rs. 500 at 10% per annum for 2 years.

A. Rs. 110

B. Rs. 105

C. Rs. 115

D. Rs. 100

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Correct Answer: Option B

Explanation:
A = 500 × 1.21 = 605, CI = 605 − 500 = Rs. 105.

This question belongs to: Maths Compound Interest

Question #335

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The effective annual rate for 20% per annum compounded half-yearly is:

A. 20.5%

B. 21.5%

C. 22%

D. 21%

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Correct Answer: Option D

Explanation:
Half-yearly rate 10%, (1.1)² = 1.21, effective = 21%.

This question belongs to: Maths Compound Interest

Question #336

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In how many years will Rs. 4000 amount to Rs. 4410 at 5% per annum compound interest?

A. 1 year

B. 2.5 years

C. 1.5 years

D. 2 years

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Correct Answer: Option D

Explanation:
4000(1.05)^t = 4410 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #337

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The difference between CI and SI on Rs. 1100 for 2 years at 10% is:

A. Rs. 11

B. Rs. 13

C. Rs. 10

D. Rs. 12

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Correct Answer: Option A

Explanation:
D = 1100 × 0.01 = Rs. 11.

This question belongs to: Maths Compound Interest

Question #338

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A sum of money at compound interest quadruples in 2 years. In how many years will it become 16 times?

A. 5 years

B. 3 years

C. 6 years

D. 4 years

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Correct Answer: Option D

Explanation:
16 = 4², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

Question #339

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The compound interest on Rs. 4300 at 10% per annum for 2 years is:

A. Rs. 860

B. Rs. 903

C. Rs. 989

D. Rs. 946

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Correct Answer: Option B

Explanation:
A = 4300 × 1.21 = 5203, CI = 5203 − 4300 = Rs. 903.

This question belongs to: Maths Compound Interest

Question #340

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What sum will amount to Rs. 2315.25 in 3 years at 5% compound interest?

A. Rs. 1800

B. Rs. 2100

C. Rs. 2000

D. Rs. 1900

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Correct Answer: Option C

Explanation:
P = 2315.25 / (1.05)³ = 2315.25 / 1.157625 = 2000.

This question belongs to: Maths Compound Interest

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