Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #61

Share Report

The compound interest on Rs. 5000 at 4% per annum for 2 years compounded annually is:

A. Rs. 424

B. Rs. 408

C. Rs. 416

D. Rs. 400

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.

This question belongs to: Maths Compound Interest

Question #62

Share Report

The simple interest on a sum at 5% for 3 years is Rs. 600. The compound interest on the same sum for 2 years at 5% is:

A. Rs. 410

B. Rs. 400

C. Rs. 415

D. Rs. 405

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
P = 60000/(5×3) = 4000. CI = 4000[(1.05)² − 1] = 4000 × 0.1025 = Rs. 410.

This question belongs to: Maths Compound Interest

Question #63

Share Report

Find the compound interest on Rs. 20000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 3250

B. Rs. 3100

C. Rs. 3200

D. Rs. 3152.50

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Half-yearly rate 5%, n=3. A = 20000 × (1.05)³ = 20000 × 1.157625 = 23152.50, CI = 23152.50 − 20000 = Rs. 3152.50.

This question belongs to: Maths Compound Interest

Question #64

Share Report

A sum of money amounts to Rs. 6655 in 3 years and Rs. 7320.50 in 4 years at compound interest. The sum is:

A. Rs. 6000

B. Rs. 6500

C. Rs. 5500

D. Rs. 5000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Rate = (7320.50/6655 − 1) × 100 = 10%. P = 6655 / (1.1)³ = 6655 / 1.331 = 5000.

This question belongs to: Maths Compound Interest

Question #65

Share Report

The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum.

A. Rs. 17000

B. Rs. 16000

C. Rs. 14000

D. Rs. 15000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.

This question belongs to: Maths Compound Interest

Question #66

Share Report

What is the compound interest on Rs. 8000 at 5% per annum for 2 years?

A. Rs. 860

B. Rs. 820

C. Rs. 800

D. Rs. 840

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
A = 8000 × (1.05)² = 8000 × 1.1025 = 8820, CI = 8820 − 8000 = Rs. 820.

This question belongs to: Maths Compound Interest

Question #67

Share Report

A man invested Rs. 15000 at compound interest for 2 years at 4% per annum. Find the amount.

A. Rs. 16300

B. Rs. 16400

C. Rs. 16224

D. Rs. 16240

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
A = 15000 × (1.04)² = 15000 × 1.0816 = 16224.

This question belongs to: Maths Compound Interest

Question #68

Share Report

The compound interest on Rs. 2400 for 2 years at 5% per annum is:

A. Rs. 246

B. Rs. 252

C. Rs. 240

D. Rs. 260

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
A = 2400 × (1.05)² = 2400 × 1.1025 = 2646, CI = 2646 − 2400 = Rs. 246.

This question belongs to: Maths Compound Interest

Question #69

Share Report

At compound interest, if a sum becomes 8 times in 3 years, what is the rate of interest?

A. 50%

B. 200%

C. 150%

D. 100%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
(1+r)³ = 8 ⇒ 1+r = 2 ⇒ r = 100%.

This question belongs to: Maths Compound Interest

Question #70

Share Report

Find the amount on Rs. 1800 at 10% per annum compound interest for 2 years.

A. Rs. 2160

B. Rs. 2200

C. Rs. 2178

D. Rs. 2196

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
A = 1800 × (1.1)² = 1800 × 1.21 = 2178.

This question belongs to: Maths Compound Interest

Question #71

Share Report

The simple interest on a sum for 2 years at 8% is Rs. 480. The compound interest on the same sum for 2 years at 8% is:

A. Rs. 512.00

B. Rs. 502.40

C. Rs. 499.20

D. Rs. 508.80

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
P = 48000/(8×2) = 3000. CI = 3000[(1.08)² − 1] = 3000 × 0.1664 = Rs. 499.20.

This question belongs to: Maths Compound Interest

Question #72

Share Report

What sum will amount to Rs. 10816 in 2 years at 4% compound interest?

A. Rs. 10400

B. Rs. 9800

C. Rs. 10200

D. Rs. 10000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

Question #73

Share Report

The difference between compound interest and simple interest on Rs. 5000 at 10% for 3 years is:

A. Rs. 170

B. Rs. 160

C. Rs. 165

D. Rs. 155

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
D = 5000 × (0.1)² × (3 + 0.1) = 5000 × 0.01 × 3.1 = 155.

This question belongs to: Maths Compound Interest

Question #74

Share Report

A sum of money at compound interest becomes Rs. 8820 in 2 years and Rs. 9261 in 3 years. Find the rate.

A. 4%

B. 5%

C. 6%

D. 3%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Rate = (9261/8820 − 1) × 100 = (1.05 − 1)×100 = 5%.

This question belongs to: Maths Compound Interest

Question #75

Share Report

The compound interest on Rs. 3500 at 8% per annum for 2 years is:

A. Rs. 582.40

B. Rs. 592.00

C. Rs. 588.00

D. Rs. 576.40

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
A = 3500 × (1.08)² = 3500 × 1.1664 = 4082.40, CI = 4082.40 − 3500 = Rs. 582.40.

This question belongs to: Maths Compound Interest

Question #76

Share Report

If Rs. 5000 becomes Rs. 5832 in 2 years at compound interest, the rate is:

A. 6%

B. 9%

C. 7%

D. 8%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
5000(1+r)² = 5832 ⇒ (1+r)² = 1.1664 = (1.08)² ⇒ r = 8%.

This question belongs to: Maths Compound Interest

Question #77

Share Report

The population of a town increases by 10% per annum. If the present population is 6050, what was it 2 years ago?

A. 5800

B. 5000

C. 5500

D. 6000

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Population 2 years ago = 6050 / (1.1)² = 6050 / 1.21 = 5000.

This question belongs to: Maths Compound Interest

Question #78

Share Report

A sum of money at compound interest doubles in 8 years. In how many years will it become 16 times?

A. 32 years

B. 40 years

C. 24 years

D. 48 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Doubles in 8 years; 16 = 2⁴, so time = 8 × 4 = 32 years.

This question belongs to: Maths Compound Interest

Question #79

Share Report

Find the compound interest on Rs. 2000 at 20% per annum compounded half-yearly for 1 year.

A. Rs. 460

B. Rs. 420

C. Rs. 400

D. Rs. 440

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Half-yearly rate = 10%, n = 2. A = 2000 × (1.1)² = 2000 × 1.21 = 2420, CI = 2420 − 2000 = Rs. 420.

This question belongs to: Maths Compound Interest

Question #80

Share Report

The difference between CI and SI on Rs. 12000 for 2 years at 5% is:

A. Rs. 35

B. Rs. 30

C. Rs. 25

D. Rs. 40

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Difference = 12000 × (0.05)² = 12000 × 0.0025 = Rs. 30.

This question belongs to: Maths Compound Interest

Compound Interest MCQs

Practice Questions

More Maths Topics