Compound Interest - Aptitude Questions and Answers - Online Test Part 1

Compound Interest Online Test Part - 1

Exam Name - Quantitative Aptitude
Subject Name - Compound Interest
Exam Type - Multiple Choice Questions
No Of Questions - 10

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Question - 1:A bank offers 5% compound interest calculated on half-yearly basis. A customer 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. Rs. 120
2. Rs. 121
3. Rs. 122
4. Rs. 123

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Answer = B - Rs. 121
Explanation: No Explanation

Question - 2:Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually. ?

1. Rs.512
2. Rs.552
3. Rs.612
4. Rs.622

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Answer = C - Rs.612
Explanation: No Explanation

Question - 3:The amount of Rs. 7500 at compound interest at 4% per annum for 2 years, is : ?

1. Rs. 7800
2. Rs. 8100
3. Rs. 8082
4. Rs. 8112

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Answer = D - Rs. 8112
Explanation: No Explanation

Question - 4:Find the S.I. on Rs.1600 for 3 years at 3% per annum. ?

1. Rs.280
2. Rs.240
3. Rs.250
4. None of these

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Answer = B - Rs.240
Explanation: No Explanation

Question - 5:The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is: ?

1. 625
2. 630
3. 640
4. 650

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Answer = A - 625
Explanation: No Explanation

Question - 6:Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely. ?

1. Rs. 2552
2. Rs. 2512
3. Rs. 2572
4. Rs. 2592

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Answer = A - Rs. 2552
Explanation: Principal = Rs.16,000;
Time=9 months = 3 quarters;
Amount
=Rs.[16000x(1+5/100)³]
=[16000x21/20x21/20x21/20]
= Rs.18522.
C.I = Rs.(18522 - 16000)
= Rs.2522.

Question - 7:If the interest on a sum of money at 5% per annum for 3 years is Rs. 1200, the compount interest on the same sum for the same period at the same rate, is : ?

1. Rs. 1260
2. Rs. 1261
3. Rs. 1264
4. Rs. 1265

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Answer = B - Rs. 1265
Explanation: No Explanation

Question - 8:On what sum of money the S.I. for 3 years at 5% p.a. is Rs.450? ?

1. Rs.2500
2. Rs.3000
3. Rs.2000
4. Rs.3500

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Answer = B - Rs.3000
Explanation: No Explanation

Question - 9: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. Rs. 2160
2. Rs. 3120
3. Rs. 3972
4. Rs. 6240

Show/Hide Answer

Answer = C - Rs. 3972
Explanation: No Explanation

Question - 10:Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is ?

1. Rs. 1550
2. Rs. 1650
3. Rs. 2000
4. Rs. 1750

Show/Hide Answer

Answer = D - Rs. 1750
Explanation: C.I. =Rs[4000x(1+10/100)²-4000]
Rs.(4000x11/10x11/10-4000) = Rs.940.
Sum =Rs. [420x100 /3x8]
= Rs.1750.

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