Compound Interest MCQs

Maths

Compound Interest MCQs

Practice Compound Interest MCQs with answers and detailed explanations. Learn compound interest formulas, annual, half-yearly and quarterly compounding, population growth, depreciation, investment and advanced aptitude questions for competitive examinations.

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Question #361
The compound interest on Rs. 8300 at 10% per annum for 2 years is:
A. Rs. 1743
B. Rs. 1826
C. Rs. 1660
D. Rs. 1909
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Correct Answer: Option A

Explanation:
A = 8300 × 1.21 = 10043, CI = 10043 − 8300 = Rs. 1743.
This question belongs to: Maths Compound Interest
Question #362
Find the compound interest on Rs. 16800 at 10% per annum for 2 years.
A. Rs. 3360
B. Rs. 3528
C. Rs. 3696
D. Rs. 3864
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Correct Answer: Option B

Explanation:
A = 16800 × 1.21 = 20328, CI = 20328 − 16800 = Rs. 3528.
This question belongs to: Maths Compound Interest
Question #363
The effective annual rate for 18% per annum compounded half-yearly is:
A. 18.81%
B. 18.50%
C. 19.00%
D. 19.25%
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Correct Answer: Option A

Explanation:
Half-yearly rate 9%, (1.09)² = 1.1881, effective = 18.81%.
This question belongs to: Maths Compound Interest
Question #364
In how many years will Rs. 1600 amount to Rs. 1764 at 5% per annum compound interest?
A. 1 year
B. 2.5 years
C. 2 years
D. 1.5 years
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Correct Answer: Option C

Explanation:
1600(1.05)^t = 1764 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.
This question belongs to: Maths Compound Interest
Question #365
The difference between CI and SI on Rs. 1300 for 2 years at 10% is:
A. Rs. 14
B. Rs. 13
C. Rs. 15
D. Rs. 12
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Correct Answer: Option B

Explanation:
D = 1300 × 0.01 = Rs. 13.
This question belongs to: Maths Compound Interest
Question #366
A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 343 times?
A. 7 years
B. 6 years
C. 9 years
D. 8 years
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Correct Answer: Option C

Explanation:
343 = 7³, so 3 × 3 = 9 years.
This question belongs to: Maths Compound Interest
Question #367
The compound interest on Rs. 3700 at 10% per annum for 2 years is:
A. Rs. 814
B. Rs. 777
C. Rs. 851
D. Rs. 740
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Correct Answer: Option B

Explanation:
A = 3700 × 1.21 = 4477, CI = 4477 − 3700 = Rs. 777.
This question belongs to: Maths Compound Interest
Question #368
What sum will amount to Rs. 9261 in 2 years at 5% per annum compound interest?
A. Rs. 8600
B. Rs. 8000
C. Rs. 8400
D. Rs. 8200
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Correct Answer: Option C

Explanation:
P = 9261 / 1.1025 = 8400.
This question belongs to: Maths Compound Interest
Question #369
The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is:
A. Rs. 2400
B. Rs. 1800
C. Rs. 2200
D. Rs. 2000
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Correct Answer: Option D

Explanation:
CI = P × 0.1881 = 376.20 ⇒ P = 2000.
This question belongs to: Maths Compound Interest
Question #370
At what rate percent compound interest will Rs. 6400 amount to Rs. 7744 in 2 years?
A. 9%
B. 10%
C. 8%
D. 12%
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Correct Answer: Option B

Explanation:
6400(1+r)² = 7744 ⇒ (1+r)² = 1.21 ⇒ r = 10%.
This question belongs to: Maths Compound Interest
Question #371
The simple interest on a sum for 2 years at 8% is Rs. 320. The compound interest on the same sum for 2 years at 8% is:
A. Rs. 358.40
B. Rs. 371.20
C. Rs. 332.80
D. Rs. 345.60
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Correct Answer: Option C

Explanation:
P = 32000/(8×2) = 2000. CI = 2000 × 0.1664 = 332.80.
This question belongs to: Maths Compound Interest
Question #372
A sum of money at compound interest amounts to Rs. 10648 in 3 years and Rs. 11712.80 in 4 years. Find the sum.
A. Rs. 8500
B. Rs. 7500
C. Rs. 7000
D. Rs. 8000
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Correct Answer: Option D

Explanation:
Rate = (11712.80/10648 − 1) × 100 = 10%. P = 10648 / 1.331 = 8000.
This question belongs to: Maths Compound Interest
Question #373
The difference between CI and SI on Rs. 5800 for 2 years at 5% is:
A. Rs. 14.00
B. Rs. 13.50
C. Rs. 14.50
D. Rs. 15.00
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Correct Answer: Option C

Explanation:
D = 5800 × 0.0025 = Rs. 14.50.
This question belongs to: Maths Compound Interest
Question #374
A sum of money at compound interest becomes 2 times in 3 years. In how many years will it become 32 times?
A. 12 years
B. 15 years
C. 21 years
D. 18 years
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Correct Answer: Option B

Explanation:
32 = 2⁵, so 3 × 5 = 15 years.
This question belongs to: Maths Compound Interest
Question #375
The compound interest on Rs. 4900 at 10% per annum for 2 years is:
A. Rs. 1078
B. Rs. 1029
C. Rs. 1127
D. Rs. 980
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Correct Answer: Option B

Explanation:
A = 4900 × 1.21 = 5929, CI = 5929 − 4900 = Rs. 1029.
This question belongs to: Maths Compound Interest
Question #376
Find the compound interest on Rs. 19600 at 10% per annum for 2 years.
A. Rs. 4116
B. Rs. 4508
C. Rs. 4312
D. Rs. 3920
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Correct Answer: Option A

Explanation:
A = 19600 × 1.21 = 23716, CI = 23716 − 19600 = Rs. 4116.
This question belongs to: Maths Compound Interest
Question #377
The effective annual rate for 24% per annum compounded half-yearly is:
A. 26.50%
B. 25.44%
C. 25%
D. 26%
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Correct Answer: Option B

Explanation:
Half-yearly rate 12%, (1.12)² = 1.2544, effective = 25.44%.
This question belongs to: Maths Compound Interest
Question #378
In how many years will Rs. 3600 amount to Rs. 3969 at 5% per annum compound interest?
A. 2 years
B. 2.5 years
C. 1.5 years
D. 3 years
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Correct Answer: Option A

Explanation:
3600(1.05)^t = 3969 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.
This question belongs to: Maths Compound Interest
Question #379
The difference between CI and SI on Rs. 2300 for 2 years at 10% is:
A. Rs. 22
B. Rs. 23
C. Rs. 24
D. Rs. 21
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Correct Answer: Option B

Explanation:
D = 2300 × 0.01 = Rs. 23.
This question belongs to: Maths Compound Interest
Question #380
A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?
A. 7 years
B. 12 years
C. 9 years
D. 6 years
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Correct Answer: Option C

Explanation:
512 = 8³, so 3 × 3 = 9 years.
This question belongs to: Maths Compound Interest

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