Compound Interest MCQs with Answers and Solutions for Competitive Exams

Question #161

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What sum will amount to Rs. 11664 in 2 years at 8% compound interest?

A. Rs. 10500

B. Rs. 9500

C. Rs. 11000

D. Rs. 10000

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Correct Answer: Option D

Explanation:
P = 11664 / (1.08)² = 11664 / 1.1664 = 10000.

This question belongs to: Maths Compound Interest

Question #162

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The compound interest on Rs. 3000 at 5% per annum for 3 years is:

A. Rs. 475.00

B. Rs. 478.00

C. Rs. 472.875

D. Rs. 472.50

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Correct Answer: Option C

Explanation:
A = 3000 × (1.05)³ = 3000 × 1.157625 = 3472.875, CI = 3472.875 − 3000 = Rs. 472.875.

This question belongs to: Maths Compound Interest

Question #163

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At what rate will Rs. 8000 amount to Rs. 9261 in 3 years at compound interest?

A. 8%

B. 4%

C. 6%

D. 5%

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Correct Answer: Option D

Explanation:
8000(1+r)³ = 9261 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #164

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The difference between compound interest and simple interest on Rs. 1600 for 2 years at 5% is:

A. Rs. 5.00

B. Rs. 3.20

C. Rs. 4.80

D. Rs. 4.00

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Correct Answer: Option D

Explanation:
D = 1600 × (0.05)² = 1600 × 0.0025 = Rs. 4.

This question belongs to: Maths Compound Interest

Question #165

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A sum of money at compound interest becomes 2.56 times in 2 years. The rate of interest is:

A. 60%

B. 65%

C. 55%

D. 50%

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Correct Answer: Option A

Explanation:
(1+r)² = 2.56 ⇒ 1+r = 1.6 ⇒ r = 60%.

This question belongs to: Maths Compound Interest

Question #166

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The compound interest on Rs. 5400 at 10% per annum for 2 years is:

A. Rs. 1200

B. Rs. 1134

C. Rs. 1240

D. Rs. 1188

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Correct Answer: Option B

Explanation:
A = 5400 × (1.1)² = 5400 × 1.21 = 6534, CI = 6534 − 5400 = Rs. 1134.

This question belongs to: Maths Compound Interest

Question #167

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Find the compound interest on Rs. 2500 at 12% per annum for 2 years.

A. Rs. 636

B. Rs. 640

C. Rs. 630

D. Rs. 650

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Correct Answer: Option A

Explanation:
A = 2500 × (1.12)² = 2500 × 1.2544 = 3136, CI = 3136 − 2500 = Rs. 636.

This question belongs to: Maths Compound Interest

Question #168

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In how many years will Rs. 800 amount to Rs. 968 at 10% per annum compound interest?

A. 2.5 years

B. 3 years

C. 1.5 years

D. 2 years

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Correct Answer: Option D

Explanation:
800(1.1)^t = 968 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #169

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The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 32.40

B. Rs. 28.80

C. Rs. 30.00

D. Rs. 34.20

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Correct Answer: Option A

Explanation:
D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

Question #170

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A sum of money at compound interest doubles in 5 years. In how many years will it become 4 times?

A. 8 years

B. 12 years

C. 15 years

D. 10 years

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Correct Answer: Option D

Explanation:
2²=4, so 5×2=10 years.

This question belongs to: Maths Compound Interest

Question #171

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The compound interest on Rs. 15000 at 10% per annum compounded half-yearly for 1 year is:

A. Rs. 1500

B. Rs. 1537.50

C. Rs. 1600

D. Rs. 1575

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Correct Answer: Option B

Explanation:
Half-yearly rate 5%, n=2. A = 15000 × (1.05)² = 15000 × 1.1025 = 16537.50, CI = 16537.50 − 15000 = Rs. 1537.50.

This question belongs to: Maths Compound Interest

Question #172

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Find the amount on Rs. 6000 at 8% per annum compound interest for 3 years.

A. Rs. 7560

B. Rs. 7558.27

C. Rs. 7600

D. Rs. 7580

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Correct Answer: Option B

Explanation:
A = 6000 × (1.08)³ = 6000 × 1.259712 = 7558.272.

This question belongs to: Maths Compound Interest

Question #173

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The simple interest on a sum for 3 years at 6% is Rs. 540. The compound interest on the same sum for 2 years at 6% is:

A. Rs. 370.80

B. Rs. 376.00

C. Rs. 380.00

D. Rs. 374.40

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Correct Answer: Option A

Explanation:
P = 54000/(6×3) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

Question #174

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A sum of money becomes Rs. 11025 in 2 years at 5% compound interest. The sum is:

A. Rs. 10500

B. Rs. 11000

C. Rs. 9500

D. Rs. 10000

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Correct Answer: Option D

Explanation:
P = 11025 / (1.05)² = 11025 / 1.1025 = 10000.

This question belongs to: Maths Compound Interest

Question #175

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The difference between CI and SI for 3 years on Rs. 5000 at 10% is:

A. Rs. 165

B. Rs. 150

C. Rs. 155

D. Rs. 160

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Correct Answer: Option C

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

This question belongs to: Maths Compound Interest

Question #176

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The compound interest on Rs. 12000 at 5% per annum for 2 years is:

A. Rs. 1260

B. Rs. 1230

C. Rs. 1200

D. Rs. 1290

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Correct Answer: Option B

Explanation:
A = 12000 × (1.05)² = 12000 × 1.1025 = 13230, CI = 13230 − 12000 = Rs. 1230.

This question belongs to: Maths Compound Interest

Question #177

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At what rate percent compound interest will a sum of money become 9 times in 2 years?

A. 250%

B. 100%

C. 150%

D. 200%

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Correct Answer: Option D

Explanation:
(1 + r)² = 9 ⇒ 1 + r = 3 ⇒ r = 2 = 200%.

This question belongs to: Maths Compound Interest

Question #178

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Find the compound interest on Rs. 8500 at 8% per annum for 2 years.

A. Rs. 1420

B. Rs. 1414.40

C. Rs. 1440

D. Rs. 1430

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Correct Answer: Option B

Explanation:
A = 8500 × (1.08)² = 8500 × 1.1664 = 9914.40, CI = 9914.40 − 8500 = Rs. 1414.40.

This question belongs to: Maths Compound Interest

Question #179

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The compound interest on a sum for 1 year at 10% compounded half-yearly is Rs. 102.50. The sum is:

A. Rs. 950

B. Rs. 1050

C. Rs. 1100

D. Rs. 1000

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Correct Answer: Option D

Explanation:
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.

This question belongs to: Maths Compound Interest

Question #180

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In how many years will Rs. 2000 amount to Rs. 2205 at 5% per annum compound interest?

A. 1.5 years

B. 2.5 years

C. 2 years

D. 3 years

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Correct Answer: Option C

Explanation:
2000(1.05)^t = 2205 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

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