Compound Interest MCQ Set 6

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

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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

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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

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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

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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

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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

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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

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 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

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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

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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

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Answer: B