Compound Interest MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Compound Interest, a fundamental topic in the field of Aptitude. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Compound Interest MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Compound Interest mcq questions that explore various aspects of Compound Interest problems. Each MCQ is crafted to challenge your understanding of Compound Interest principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Aptitude tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Compound Interest MCQs are your pathway to success in mastering this essential Aptitude topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Compound Interest. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Compound Interest knowledge to the test? Let's get started with our carefully curated MCQs!

Compound Interest MCQs | Page 1 of 2

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Q1.
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:

a.

Rs. 120

b.

Rs. 121

c.

Rs. 122

d.

Rs. 123

Discuss
Answer: (b).Rs. 121
Q2.
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:

a.

625

b.

630

c.

640

d.

650

Discuss
Answer: (a).625
Q3.
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?

a.

Rs. 2160

b.

Rs. 3120

c.

Rs. 3972

d.

Rs. 6240

Discuss
Answer: (c).Rs. 3972
Q4.
What is the difference between the compound interests on Rs. 5000 for 1(1/2) years at 4% per annum compounded yearly and half-yearly?

a.

Rs. 2.04

b.

Rs. 3.06

c.

Rs. 4.80

d.

Rs. 8.30

Discuss
Answer: (a).Rs. 2.04
Q5.
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

a.

2

b.

2(1/2)

c.

3

d.

4

Discuss
Answer: (a).2
Q6.
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

Discuss
Answer: (c).Rs. 10123.20
Q7.
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

a.

6%

b.

6.5%

c.

7%

d.

7.5%

Discuss
Answer: (a).6%
Q8.
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

a.

3

b.

4

c.

5

d.

6

Discuss
Answer: (b).4
Q9.
Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

a.

Rs. 8600

b.

Rs. 8620

c.

Rs. 8820

d.

None of these

Discuss
Answer: (c).Rs. 8820
Q10.
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

a.

6.06%

b.

6.07%

c.

6.08%

d.

6.09%

Discuss
Answer: (d).6.09%
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