Aptitude - Compound Interest

MCQ

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Q 1.

What will be the final amount if Rs. 1,000,000 is invested for 10 years at 7.3% p.a. compound interest compounded quarterly?

Options:

  • Rs. 2,071,348.52

  • Rs. 2,011,469.71

  • Rs. 2,061,468.72

  • Rs. 2,041,457.40

Q 2.

What is the compound interest on Rs. 100,000 invested for 5 years at 12.25% compounded quarterly?

Options:

  • Rs. 82,515.69

  • Rs. 82,615.69

  • Rs. 82,715.69

  • Rs. 82,815.69

Q 3.

Jack invested $15,000 at 10% p.a compound interest compounded half-yearly for 1 year. What is the amount that he will receive after 1 year?

Options:

  • $16,437.50

  • $16,537.50

  • $16,637.50

  • $16,737.50

Q 4.

Find the difference between the compound interest on Rs. 5000 for 1.5 years at 4% p.a. compounded annually and half-yearly.

Options:

  • 2.04

  • 3.01

  • 1.91

  • 4.58

Q 5.

Find the compound interest on Rs. 15625 for 9 mounths at 16% p.a. compounded quarterly.

Options:

  • 2010

  • 1872

  • 1951

  • 1941

Q 6.

Find the time in years if Rs. 30,000 invested at 7% p.a. gives Rs. 4347 compound interest compounded annually.

Options:

  • 2 years

  • 2.5 years

  • 3 years

  • 3.5 years

Q 7.

Find the principal that amounts to Rs. 4913 in 3 years at 25/4% p.a. compound interest compounded annually.

Options:

  • 4066

  • 4096

  • 4076

  • 4056

Q 8.

If the simple interest on a certain sum of money for 3 years at 8% p.a. is 1/2 the compound interest on Rs. 4000 for 2 years at 10% p.a. then, find the sum of money for the simple interest.

Options:

  • 1750

  • 1860

  • 1970

  • 1650

Q 9.

If there is a 60% increase in an amount in 6 years at simple interest then, what will be the compound interest of Rs. 12000 after 3 years at the same rate of interest p.a. compounded annually?

Options:

  • 3972

  • 4280

  • 5780

  • 6240

1st part:

Let principal P = 100
Rate = R% p.a.
Time T = 6

As there is a 60% increase
so, I = 60% of P = 60

Therefore, R = (I x 100) / (PT)
or, R = (60 x 100) / (100 x 6)
= 10% p.a.

Now, calculate the compound interest.

Q 10.

If the difference between the Simple Interest and Compound Interest compounded annually on a certain sum of money for 2 years at 4% p.a. is Rs. 1 then what is the principal?

Options:

  • 625

  • 725

  • 825

  • 925

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