Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #341

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The compound interest on a sum for 2 years at 6% is Rs. 370.80. The sum is:

A. Rs. 3000

B. Rs. 3200

C. Rs. 3400

D. Rs. 2800

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Correct Answer: Option A

Explanation:
CI = P × 0.1236 = 370.80 ⇒ P = 3000.

This question belongs to: Maths Compound Interest

Question #342

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At what rate percent compound interest will Rs. 5000 amount to Rs. 6050 in 2 years?

A. 10%

B. 8%

C. 9%

D. 12%

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Correct Answer: Option A

Explanation:
5000(1+r)² = 6050 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #343

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The simple interest on a sum for 2 years at 15% is Rs. 600. The compound interest on the same sum for 2 years at 15% is:

A. Rs. 645

B. Rs. 675

C. Rs. 660

D. Rs. 690

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Correct Answer: Option A

Explanation:
P = 60000/(15×2) = 2000. CI = 2000[(1.15)² − 1] = 2000 × 0.3225 = 645.

This question belongs to: Maths Compound Interest

Question #344

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A sum of money at compound interest amounts to Rs. 16105 in 2 years and Rs. 17715.50 in 3 years. Find the sum.

A. Rs. 12500

B. Rs. 12000

C. Rs. 13000

D. Rs. 13310

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Correct Answer: Option D

Explanation:
Rate = (17715.50/16105 − 1) × 100 = 10%. P = 16105 / 1.21 = 13310? 16105/1.21 = 13310 exactly. So answer D 13310.

This question belongs to: Maths Compound Interest

Question #345

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The difference between CI and SI on Rs. 6200 for 2 years at 5% is:

A. Rs. 13.50

B. Rs. 16.00

C. Rs. 14.00

D. Rs. 15.50

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Correct Answer: Option D

Explanation:
D = 6200 × 0.0025 = Rs. 15.50.

This question belongs to: Maths Compound Interest

Question #346

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A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times?

A. 5 years

B. 4 years

C. 3 years

D. 6 years

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Correct Answer: Option B

Explanation:
100 = 10², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

Question #347

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The compound interest on Rs. 3900 at 10% per annum for 2 years is:

A. Rs. 819

B. Rs. 780

C. Rs. 858

D. Rs. 897

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Correct Answer: Option A

Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.

This question belongs to: Maths Compound Interest

Question #348

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Find the compound interest on Rs. 10800 at 10% per annum for 2 years.

A. Rs. 2160

B. Rs. 2376

C. Rs. 2484

D. Rs. 2268

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Correct Answer: Option D

Explanation:
A = 10800 × 1.21 = 13068, CI = 13068 − 10800 = Rs. 2268.

This question belongs to: Maths Compound Interest

Question #349

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The effective annual rate of interest for 12% per annum compounded quarterly is:

A. 12.65%

B. 12.60%

C. 12.55%

D. 12.50%

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Correct Answer: Option C

Explanation:
Quarterly rate = 3%, (1.03)⁴ = 1.12550881, effective ≈ 12.55%.

This question belongs to: Maths Compound Interest

Question #350

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In how many years will Rs. 2500 amount to Rs. 2756.25 at 5% per annum compound interest?

A. 2.5 years

B. 1.5 years

C. 2 years

D. 3 years

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Correct Answer: Option C

Explanation:
2500(1.05)^t = 2756.25 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #351

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The difference between CI and SI on Rs. 4100 for 2 years at 5% is:

A. Rs. 9.50

B. Rs. 11.00

C. Rs. 10.25

D. Rs. 8.50

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Correct Answer: Option C

Explanation:
D = 4100 × 0.0025 = Rs. 10.25.

This question belongs to: Maths Compound Interest

Question #352

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A sum of money at compound interest becomes 6 times in 4 years. In how many years will it become 216 times?

A. 16 years

B. 10 years

C. 12 years

D. 8 years

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Correct Answer: Option C

Explanation:
216 = 6³, so 4 × 3 = 12 years.

This question belongs to: Maths Compound Interest

Question #353

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The compound interest on Rs. 5900 at 10% per annum for 2 years is:

A. Rs. 1357

B. Rs. 1180

C. Rs. 1298

D. Rs. 1239

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Correct Answer: Option D

Explanation:
A = 5900 × 1.21 = 7139, CI = 7139 − 5900 = Rs. 1239.

This question belongs to: Maths Compound Interest

Question #354

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What sum will amount to Rs. 14520 in 2 years at 10% compound interest?

A. Rs. 11000

B. Rs. 12500

C. Rs. 12000

D. Rs. 11500

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Correct Answer: Option C

Explanation:
P = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

Question #355

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The compound interest on a sum for 2 years at 7% is Rs. 434.70. The sum is:

A. Rs. 2800

B. Rs. 3000

C. Rs. 3400

D. Rs. 3200

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Correct Answer: Option B

Explanation:
CI = P[(1.07)² − 1] = P × 0.1449 = 434.70 ⇒ P = 3000.

This question belongs to: Maths Compound Interest

Question #356

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At what rate percent compound interest will Rs. 8000 amount to Rs. 9680 in 2 years?

A. 8%

B. 12%

C. 9%

D. 10%

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Correct Answer: Option D

Explanation:
8000(1+r)² = 9680 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #357

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The simple interest on a sum for 2 years at 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 1100

B. Rs. 1025

C. Rs. 1050

D. Rs. 1000

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Correct Answer: Option C

Explanation:
P = 100000/(10×2) = 5000. CI = 5000 × 0.21 = 1050.

This question belongs to: Maths Compound Interest

Question #358

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A sum of money amounts to Rs. 10584 in 2 years and Rs. 11113.20 in 3 years at compound interest. Find the sum.

A. Rs. 9000

B. Rs. 9600

C. Rs. 9200

D. Rs. 9400

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Correct Answer: Option B

Explanation:
Rate = (11113.20/10584 − 1) × 100 = 5%. P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #359

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The difference between CI and SI on Rs. 7700 for 2 years at 10% is:

A. Rs. 77

B. Rs. 70

C. Rs. 74

D. Rs. 80

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Correct Answer: Option A

Explanation:
D = 7700 × 0.01 = Rs. 77.

This question belongs to: Maths Compound Interest

Question #360

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A sum of money at compound interest becomes 11 times in 2 years. In how many years will it become 121 times?

A. 5 years

B. 3 years

C. 4 years

D. 6 years

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Correct Answer: Option C

Explanation:
121 = 11², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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