Practice MCQ Questions and Answer on Compound Interest
41.
Vipul and Manish invested the sum on Rs. 15000 and Rs. 20000 at the rate of 20 percent p.a and 30 percent p.a. respectively on compound interest (compounding annually). If time period is 3 years for both, then what will be the total compound interest earned by Vipul and Manish?
- (A) Rs. 29460
- (B) Rs. 32480
- (C) Rs. 31688
- (D) Rs. 34860
42.
An amount of Rs 6000 lent at 5% per annum compounded interest for 2 years will become = ?
- (A) Rs. 600
- (B) Rs. 6600
- (C) Rs. 6610
- (D) Rs. 6615
43.
Ramesh borrowed Rs. 1,20,000 interest free from Aman. If he pays back at 6.25% of this amount quarterly and has already paid Rs. 30,000, then for how many months does he need to pay back his loan for the rest of the amount?
- (A) 36 months
- (B) 24 months
- (C) 42 months
- (D) 38 months
44.
At what rate percent per annum of compound interest, will a sum of money become four times of itself in two years ?
- (A) 100%
- (B) 75%
- (C) 50%
- (D) 20%
45.
What is the compound interest on Rs. 5,000 for 2 years at 10%, per annum, compounded half-yearly?
- (A) Rs. 1,025.00
- (B) Rs. 2,320.50
- (C) Rs. 1,050.00
- (D) Rs. 1,077.50
46.
What will be the compound interest on a sum of Rs. 31,250 for 2 years at 12% p.a., if the interest is compounded 8-monthly
- (A) Rs. 8,016
- (B) Rs. 8,106
- (C) Rs. 8,156
- (D) Rs. 8,116
47.
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
- (A) Rs. 9000.30
- (B) Rs. 9720
- (C) Rs. 10123.20
- (D) Rs. 10483.20
48.
A sum of Rs. x was borrowed and paid back in two equal yearly instalments, each of Rs. 35,280. If the rate of interest was 5%, compounded annually, then the value of x is:
- (A) 64,400
- (B) 65,600
- (C) 64,800
- (D) 65,400
49.
A sum of money placed at compound interest double itself in 4 years. In how many years will it amount to four times itself ?
- (A) 12 years
- (B) 13 years
- (C) 8 years
- (D) 16 years
50.
The compound interest on a certain sum of money for 2 years at 5% per annum is Rs 410. The simple interest on the same sum at the same rate and for the same time is = ?
- (A) Rs. 400
- (B) Rs. 300
- (C) Rs. 350
- (D) Rs. 405