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Compound Interest Problems | Practice Test Questions With Solutions

Compound Interest Problems

We are providing Compound Interest Problems with their answers. Here in this page we cover Compound Interest Practice Test With their Solutions for your better preparation of the exams. You can prepare for your competitive or any other exam with the help of below questions developed by the team of recruitmentresult.com.

Compound Interest Problems

These questions will help you in understanding the level of question asked in exams. so, have a look on below questions.

Question 1 A post office offers 5% (CI) compound interest calculated on half-yearly basis. A person deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:

  1. 121
  2. 122
  3. 123
  4. 124
  5. None of these

Answer: 1

Question 2 What will be ratio of simple to compound interest on two same sums invested in PNB at rate of interest of 8% kept for 3 years?

  1. 1903/2156
  2. 4/9
  3. 1/2.5
  4. 1875/2029

Answer: 4     

Check Here: Difference Between Simple Interest And Compound Interest

Question 3 The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

  1. 08%
  2. 06%
  3. 09%
  4. 07%

Answer: 3

Question 4 The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

  1. 10
  2. 8
  3. 14
  4. Cannot be determined

Answer: 2

Question 5 Shivam invested amount of 8000 in a fixed deposit for 2 years at compound interest rate of 5 % per annum. How much Albert will get on the maturity of the fixed deposit.

  1. 8820
  2. 8720
  3. 8620
  4. 8520

Answer: 1

Read Now: Compound Interest Formula Derivation

Question 6 The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

  1. 3
  2. 21/2
  3. 5
  4. 2

Answer: 4

Question 7 If at same rate of interest, in 2 years, the simple interest is Rs. 40 and compound interest is Rs. 41, then what is the principal?

  1. 300
  2. 350
  3. 400
  4. 450

Answer: 3

Question 8 Find the compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.

  1. 608
  2. 610
  3. 612
  4. 614

Answer: 3

Question 9 The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

  1. 2.50
  2. 1.50
  3. 3.75
  4. 3

Answer: 4

Check Here: Discount Formulas – Rules With Examples

Question 10 At what rate of compound interest a sum will be 25/16 times of itself in 2 years?

  1. 25%
  2. 50%
  3. 50%
  4. 50%

Answer: 1

Question 11 The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

  1. 3.50
  2. 2.50
  3. 3
  4. 2
  5. None of these

 Answer: 3

Question 12 What will be the interest earned on sum of Rs. 5500 kept for 6 months at 25% interest rate compounded quarterly?

  1. 952
  2. 825
  3. 852
  4. 925

Answer: 2

Check Also: Permutation And Combination Questions And Answers

Question 13 There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

  1. 3972
  2. 6240
  3. 2160
  4. 3120

Answer: 1

Question 14 The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:

  1. 300
  2. 400
  3. 500
  4. 600

Answer: 3

Question 15 In the month of January out of Rs. 3, 500 a person lend Rs. 1, 500 at 4% simple interest and Rs. 1, 000 at 3% simple interest. At what rate he must lend the balance money so that his total income may become 5% on Rs. 3, 500 at the end of the year

  1. 5%
  2. 5%
  3. 5%
  4. 2%

Answer: 3

Check Out Here: Probability Questions With Answers

Question 16 A sum of money becomes Rs 13,380 in 3 years and Rs 20,070 in 6 years at compound interest. The initial sum is?

  1. Rs 8920
  2. Rs 8900
  3. Rs 8890
  4. Rs 9000

Answer: 1

Question 17 At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

  1. 5%
  2. 6%
  3. 7%
  4. 8%

Answer: 2

Question 18 In certain years a sum of money is doubled itself at 6.25% Simple interest p.a., then the required time in years will be:

  1. 5
  2. 16
  3. 8
  4. 1023

Answer: 2

You Can Also Check: Maths Formulas

Question 19 A man saves Rs 200 at the end of each year and lends the money at 5% compound interest. How much will it become at the end of 3 years.

  1. Rs 661
  2. Rs 661
  3. Rs 662.02
  4. Rs 662.01

Answer: 3

Question 20 What will be the compound interest on Rs. 25000 after 3 years at the rate of 12 % per annum.

  1. Rs 10123.20
  2. Rs 10123.30
  3. Rs 10123.40
  4. Rs 10123.50

Answer: 1

Evaluate your performance yourself by matching your answers with given answers. So do practice of Compound Interest Problems as much as possible and boost your knowledge as much as you want. All the best for your exams.

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