COMPOUND INTEREST MCQ SET 6
1. A sum of Rs.1000 is invested at 10% per annum compound interest (compounded annually) for 1 1/5 years . How much interest will be received after 1 1/5 years .
(a) Rs.122
(b) Rs.120
(c) Rs.210
(d) Rs.121
Answer: A
2. A sum of Rs.1000 is invested at 12% per annum compound interest (compounded 5 monthly) for 1 year 3 months . How much interest will be received after 1 year 3 months .
(a) Rs.150
(b) Rs.144
(c) Rs.139.6
(d) Rs.157.625
Answer: D
3. A sum of Rs.2000 is invested at compound interest (compounded annually) . Find the amount after 30 months , if the rate of interest is 10% p.a. .
(a) Rs.2538
(b) Rs.2524
(c) Rs.2541
(d) Rs.2532
Answer: C
4. The interest on Rs.24,000 in year compounded annually when the rate are 8% p.a. and 10% p.a. for two successive years is :
(a) Rs.3994
(b) Rs.4512
(c) Rs.5040
(d) Rs.5866
Answer: B
5. The simple interest on a certain sum at 20% p.a. for two years is Rs.250 . What is the compound interest (compounded annually) on the same sum at the same rate for the same period?
(a) Rs.275
(b) Rs.900
(c) Rs.550
(d) Rs.750
Answer: A
6. The simple interest on a certain sum at the end of three year at 5% p.a. is Rs.1200 . The compound interest on the same sum for the same period at the same rate is (interest compounded yearly) :
(a) Rs.1800
(b) Rs.1260
(c) Rs.820
(d) Rs.1261
Answer: D
7. A sum invested at 10% compound interest per annum becomes Rs.19,965 in 3 years . The same sum will become Rs. x in 2 2/5 years . If the interest is compounded annually in both the cases , then find the value of x?
(a) Rs.18,855
(b) Rs.18,768
(c) Rs.18,867
(d) Rs.18,876
ย Answer: D
8. What is the difference (in Rs.) between the simple interest and the compound interest on a sum of Rs.8000 2 2/5 years at the rate of 10% p.a. , when the interest is compounded yearly ?
(a) 152.80
(b) 150
(c) 155
(d) 147.20
Answer: D
9. The simple interest on a sum of Rs.50,000 at the end of two years is Rs.4,000 . What would be the compound interest on the same sum at the same rate for the same period?
(a) Rs.8,000
(b) Rs.4,040
(c) Rs.4,008
(d) Rs.4,080
Answer: D
10. What is the compound interest (in Rs.) at the rate of 10% , compounded annually , for 3 years on the principal which in 8 years at the rate of 12% per annum gives Rs.4,800 as simple interest?
(a) 1,505
(b) 1,655
(c) 1,455
(d) 2,015
Answer: B
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