COMPOUND INTEREST MCQ SET 7
1. What sum of money is compound interest will amount to Rs.4630.08 in three years if the rate of interest is 4% for the first year , 5% for the second year and 6% for the third year?
(a) Rs.4,500
(b) Rs.4,800
(c) Rs.4,000
(d) Rs.3,500
Answer: C
2. The simple interest on a sum of money at 10% per annum for 2 years is Rs.8,100 . What would be the compound interest (in Rs.) on the same sum for the period at 15% p.a. When the interest is compounded yearly?
(a) 13,061
(b) 8,100
(c) 14,671
(d) 12,751
Answer: A
3. If the difference between the compound interest and simple interest at 17% on a sum of money for 2 years (compound annually) is Rs.433.50 then the compound interest (in Rs.) is :
(a) 5,533.50
(b) 2,735.50
(c) 5,100
(d) 2,500
Answer: A
4. A deposited Rs.1,56,250 at 8% simple interest for 2 years . How much more money will A have in his account at the end of two years , if at the same rate of interest the sum is invested in compound interest , compounded annually .
(a) Rs.1,740.90
(b) Rs.1,000
(c) Rs.2,000
(d) Rs.1,540.40
Answer: B
5. A moneylender borrows money at 4% annum and pays the interest at the end of the year . He lends it at 8% per annum compound interest , compounded half – yearly , and receives the interest , compounded half-yearly , and receives the interest at the end of the year . In this way , he gains Rs.166.4 a year . Find the amount of money he borrows .
(a) Rs.6,500
(b) Rs.4,000
(c) Rs.5,050
(d) Rs.4,500
Answer: B
6. The difference between compound interest compounded annually and simple interest on a certain sum at a rate of 15% per annum for 2 years in Rs.1,944 . Find the compound interest compounded annually (in Rs.) on the same sum for the same period at a rate of 10% per annum .
(a) 18,060
(b) 27,216
(c) 18,144
(d) 20,500
Answer: C
7. What is the compound interest on a sum of Rs.7200 for 2 2/5 years at 20% p.a. , interest compounded yearly (nearest to an integer)?
(a) Rs.4,290
(b) Rs.3,960
(c) Rs.4,205
(d) Rs.3,997
ย Answer: D
8. The compound interest on a sum of Rs.20,000 at 15% p.a. for 2 2/3 years , interest compounded yearly is:
(a) Rs.9,098
(b) Rs.9,095
(c) Rs.8,896
(d) Rs.9,000
Answer: B
9. A certain sum amounts to Rs.4205.55 at 15% p.a. In 2 2/5 years interest compounded yearly . The sum is :
(a) Rs.3,200
(b) Rs.3,500
(c) Rs.2,700
(d) Rs.3,000
Answer: D
10. What is the compound interest on a sum of Rs.10,000 at 14% p.a. for 2 5/7 years where the interest is compounded yearly? (nearest to Rs.1)
(a) Rs.4,259
(b) Rs.4,296
(c) Rs.4,439
(d) Rs.4,394
Answer: B
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