Compound Interest MCQ Set 5

COMPOUND INTEREST MCQ SET 5

1. Akhilesh invested a certain sum which amounted to Rs.82000 in 2 years at 6% per annum compound interest , compounded annually . what was the sum invested (in Rs) by Akhilesh?(round off to the nearest integer)

(a) 73,980

(b) 72,680

(c) 72,980

(d) 70,980

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Answer: C

2. Find the compound interest at the rate of 7% p.a. compounded annually for two years on the principal that yields a simple interest of Rs.9450 for 3 years at 7% p.a.?

(a) Rs.12,345.20

(b) Rs.6,520.50

(c) Rs.10,127

(d) Rs.12,678.40

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Answer: B

3. What will be the compound interest on a sum of Rs.1200 for 2 years at the rate of 20% per annum when the interest is compounded yearly?

(a) Rs.624

(b) Rs.504

(c) Rs.576

(d) Rs.528

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Answer: D

4. The compound interest on a certain sum of money at 11% for 2 years is Rs.6963 . Its simple interest (in Rs.) at the same rate and for the same period is :

(a) Rs.6500

(b) Rs.6600

(c) Rs.6750

(d) Rs.6000

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Answer: B

5. The compound interest on a certain sum of money at 21% for 2 years is Rs.9282 . Its simple interest (in Rs.) at the same rate and for the same period is:

(a) Rs.8750

(b) Rs.8400

(c) Rs.8000

(d) Rs.8500

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Answer: B

6. What is the difference between the compound on Rs.6,400 for 1 year at 5% per annum compounded yearly and half yearly ?

(a) Rs.8

(b) Rs.9

(c) Rs.4

(d) Rs.7

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Answer: C

7. What is the present value of the sum if the interest compounded at the rate of 18% per annum for two year is Rs.981?

(a) Rs.2,800

(b) Rs.2,500

(c) Rs.3,600

(d) Rs.2,400

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 Answer: B

8. A certain sum amount to Rs.14,641 in 4 years at 10% p.a. , when interest is compounded annually . What will be the amount of the same sum (in Rs) in 3 2/5 years at the same rate at simple interest?

(a) 14,000

(b) 13,600

(c) 13,400

(d) 13,200

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Answer: C

9. The simple interest on a sum of money at 10% per annum for 4 years is Rs.3,200 . What will be the amount (in Rs.) of the same sum for the same period at the same rate of interest when the interest is compounded anually ?

(a) 11,172.80

(b) 11,712.80

(c) 11,127.80

(d) 11,217.80

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Answer: B

10. A certain sum is deposited for 4 years at a rate of 10% per annum on compound interest compounded annually . The difference between the interest at the end of 2 years and that at the end of 4 year is Rs.5082 . Find the sum (in Rs.)

(a) 20000

(b) 25500

(c) 50820

(d) 10164

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Answer: A