Compound Interest MCQ Set 12
COMPOUND INTEREST MCQ SET 12
1. A sum of Rs.12,000 amounts to Rs.20,736 in 2 years at a certain rate per annum , interest compounded annually . What will be the amount of the same sum be in 2 years at the same rate of compound interest?
(a) Rs.15,640
(b) Rs.17,820
(c) Rs.17,280
(d) Rs.14,520
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Answer: C
2. Rs.60000 invested at a certain rate for a certain even number of years , compounded annually , grows to Rs.63,654 . To how much amount would it grow if it is invested at the same rate for half period ?
(a) Rs.61800
(b) Rs.61809
(c) Rs.64675
(d) Rs.61827
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Answer: A
3. A sum of money on compound interest becomes double of itself in 3 years . How many years will it take for the amount to become eight times of itself at the same rate of interest ?
(a) 8
(b) 9
(c) 5
(d) 7
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Answer: B
4. If a sum of money double itself in 10 years on compound interest , then in how many more years will it become 16 times of itself at the same rate of interest ?
(a) 10
(b) 20
(c) 40
(d) 30
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Answer: D
5. An amount becomes 27 times of itself on compound interest (compounding annually) in 15 years . In how many years at the same rate on compounded interest (compounding annually) it will become 81 times of itself?
(a) 15
(b) 30
(c) 45
(d) 20
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Answer: D
6. A sum of money double itself at a certain rate of compound interest in 12 years when the interest is compounded annually . In how many more years will it become eight times of itself?
(a) 24
(b) 48
(c) 12
(d) 36
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Answer: A
7. An amount becomes 125 times of itself on compounded interest (compounding annually) in 30 years . In how many years at the same rate on compound interest (compounding annually) it will become 625 times of itself?
(a) 30
(b) 60
(c) 40
(d) 120
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Answer: C
8. An amount becomes 125 times of itself on compound interest (compounding annually) in 30 years . In how many years at the same rate on compound interest (compounding annually) it will become 5 times of itself?
(a) 10
(b) 15
(c) 20
(d) 5
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Answer: A
9. A sum of money becomes 3 times in 10 years at the rate of compound interest (compounded annually) , In how many years will it become 243 times?
(a) 40 years
(b) 50 years
(c) 35 years
(d) 30 years
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Answer: B
10. If the difference between simple and compound interest on a sum of money for 2 years at 5% p.a. is Rs.125 , the sum (in Rs.) is :
(a) Rs.50000
(b) Rs.5000
(c) Rs.10000
(d) Rs.1000
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Answer: A