Compound Interest MCQ Set 8

COMPOUND INTEREST MCQ SET 8

1. A certain sum amount to Rs.29,282 in 4 years at 10% per annum when the interest is compounded annually . What is the simple interest on the same sum for same time a the same rate ?

(a) Rs.8,500

(b) Rs.8,000

(c) Rs.7,600

(d) Rs.8,400

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Answer: B

2. A principal increases 21% with compound interest in two years . Calculate the simple interest for 4 years on Rs.1000 at the same rate of interest?

(a) Rs.320

(b) Rs.400

(c) Rs.360

(d) Rs.420

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Answer: B

3. The compound interest on a certain sum for 3 years at 15% p.a. Interest compounded yearly is Rs.4,167 . What is the simple interest on the same sum in 4 4/5 years at the same rate ?

(a) Rs.6,144

(b) Rs.6,000

(c) Rs.4,800

(d) Rs.5,760

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Answer: D

4. The compound interest on a certain sum of money at 21% for 2 years is Rs.11,602.5 . Its simple interest (in Rs.) at the same rate and for the same period is :

(a) Rs.10,750

(b) Rs.16,000

(c) Rs.12,500

(d) Rs.10,500

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Answer: D

5. A sum of Rs.18000 is invested for 16 months at 8% per annum compounded half-yearly what is the percentage gain at

(a) 9%

(b) 11%

(c) 10%

(d) 12%

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Answer: B

6. A sum of Rs.12,000 is invited for 15 months at 10% per annum compounded half yearly . What is the percentage gain?

(a) 13%

(b) 13.1%

(c) 12.8%

(d) 12.9%

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Answer: A

7. What will be the compound interest on a sum of Rs.31,250 at 12% compound interest (interest compounded yearly) in 2 2/3 years?

(a) Rs.11,048

(b) Rs.11,096

(c) Rs.11,068

(d) Rs.11,086

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 Answer: D

8. What is the compound interest on a sum of Rs.12,000 for 2 5/8 years at 8% p.a. when the interest is compounded annually .

(a) Rs.2,697

(b) Rs.2,654

(c) Rs.2,712

(d) Rs.2,642

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Answer: A

9. On what amount , the interest compounded semi-annually at 12% per annum for one year is Rs.1545?

(a) Rs.12,500

(b) Rs.25,750

(c) Rs.24,300

(d) Rs.12,875

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Answer: A

10. If interest be compounded half – yearly , then find the compound interest on Rs.8,000 at 20% p.a. for 1 year .

(a) Rs.1685

(b) Rs.1680

(c) Rs.1675

(d) Rs.1690

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Answer: B