Compound Interest MCQ Set 10

COMPOUND INTEREST MCQ SET 10

1. The compound interest on a sum of Rs.5,500 at 15% p.a. for 2 years , when the interest compounded 8 monthly is:

(a) Rs.1,880

(b) Rs.1,820.50

(c) Rs.1,773.75

(d) Rs.1,850

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Answer: B

2. What will be the compound interest (nearest to Rs.1) on a sum of Rs.25,000 for 2 years at 12% p.a., if the interest is compounded 8-monthly ?

(a) Rs.6,394

(b) Rs.6,439

(c) Rs.6,493

(d) Rs.6,349

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Answer: C

3. What is the compound interest on a sum of Rs.4096 at 15% p.a. , for 2½ years , if the interest is compounded 10 – monthly?

(a) Rs.1,726

(b) Rs.1,736

(c) Rs.1,636

(d) Rs.1,763

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Answer: B

4. What will be the compound interest on a sum of Rs.31,250 for 2 years at 12% p.a., if the interest is compounded 8 monthly?

(a) Rs.8,106

(b) Rs.8,116

(c) Rs.8,016

(d) Rs.8,156

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Answer: B

5. What is the compound interest on a sum of Rs.8,100 for 1¼ years at 8% per annum , if the interest to compounded 5 – monthly (nearest to Rs.1)

(a) Rs.837

(b) Rs.873

(c) Rs.842

(d) Rs.824

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Answer: C

6. A certain sum is invested on compound interest at 18% per annum for 1 year 4 months , the interest being compounded 8 monthly . If the compound interest is Rs.3816 , then find the sum (in Rs.) .

(a) Rs.15,000

(b) Rs.14,800

(c) Rs.14,580

(d) Rs.15,500

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Answer: A

7. The principal amount of Rs.100 becomes equal to Rs.121 in 2 years at a certain rate of compound interest per annum . Find the interest rate .

(a) 10%

(b) 5%

(c) 21%

(d) 11%

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 Answer: A

8. A sum of Rs.6,400 invested on the basis of yearly compounding of interest , grows to Rs.7,056 in two years . What is the percentage rate of of interest?

(a) 4

(b) 7.5

(c) 5

(d) 6.25

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Answer: C

9. A sum invested at compound interest amounts to Rs.7,800 in 3 years and Rs.11,232 in 5 years . What is the rate per cent?

(a) 26%

(b) 20%

(c) 15%

(d) 18%

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Answer: B

10. The compound interest and the amount obtained , on a certain sum of money are Rs.820 and 8820 respectively after 2 years . If the rate of interest compounded yearly , then the rate of interest is :

(a) 8%

(b) 6%

(c) 5%

(d) 7%

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Answer: C