Compound Interest MCQ Set 1

COMPOUND INTEREST MCQ SET 1

1. A sum of Rs.100 is invested at 10% per annum compound interest (compounded annually) for two years . How much interest will be received after two years .

(a) Rs. 42

(b) Rs. 21

(c) Rs. 210

(d) Rs. 20

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Answer: B

2. A sum of Rs.2000 is invested at 10% per annum compound interest (compounded annually) for two years . How much interest will be received after two years .

(a) Rs.420

(b) Rs.2420

(c) Rs.210

(d) Rs.400

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Answer: A

3. Aruna borrowed a sum of Rs.9,000 from Jayshree at 10% per annum on compound interest , compounded annually . Find the total amount paid by Aruna after 2 years to clear all the dues .

(a) Rs.10098

(b) Rs.10890

(c) Rs.10980

(d) Rs.10089

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Answer: B

4. The compound interest (compounded annually) on a sum of money invested for two years is Rs.10125 . If the rate of interest in 25% per annum , then what is the amount after these two years ?

(a) Rs.28125

(b) Rs.32275

(c) Rs.30625

(d) Rs.26275

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Answer: A

5. A sum of Rs.3000 is invested at 20% p.a. compound interest (compounded annually) . What is the compound interest for two years ?

(a) Rs.1360

(b) Rs.1200

(c) Rs.1320

(d) Rs.1440

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Answer: C

6. If Rs.12000 is invested at 20% p.a. compound interest (compounded annually) for 2 years , then calculate the interest .

(a) Rs.5280

(b) Rs.4280

(c) Rs.4800

(d) Rs.5640

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Answer: A

7. Find the compound interest on Rs.12,000 in 3 year at a rate of 10% per annum , compounded annually .

(a) Rs.9,872

(b) Rs.3,672

(c) Rs.3772

(d) Rs.3972

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 Answer: D

8. What will be the compound interest for 3 years on Rs.5120 at the rate of 12.5% (compounded annually)?

(a) Rs.2280

(b) Rs.1960

(c) Rs.2120

(d) Rs.2170

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Answer: D

9. A sum of Rs.1000 is invested on a compound interest (compounded annually) for three years . If the rate of interest is 10% per annum for the first two years and 50% per annum for the third year , then what will be the interest?

(a) Rs.612

(b) Rs.655

(c) Rs.815

(d) Rs.756

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Answer: C

10. How much will a principal of Rs.5000 invested on compound interest (compounded annually) amount to , in three years at a rate of 50% per annum?

(a) Rs.16,375

(b) Rs.11,250

(c) Rs.16,875

(d) Rs.17,275

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Answer: C