Sunday, September 4, 2016

Compound Interest ( Quantitative Aptitude ) Practice Questions

1.     Find compound interest on Rs. 7500 at 4% per annum for 2 years, compounded annually.                                                                                                                        Ans: 612
2.     Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually.                                                                                           Ans: 3109
3.     Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly                                                                                     Ans: 824.32
4.     Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly.                                                                                         Ans: 2522
5.     If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.Ans:1261
6.     In what time will Rs. 1000 become Rs. 1331 at 10% per annum compounded annually?3 
7.     If Rs. 600 amounts to Rs. 683.20 in two years compounded annually, find the rate of interest per annum.                                                                                              Ans: 8
8.     If the compound interest on a certain sum at 16 2/3% to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period. Ans: 1080
9.     The difference between the compound interest and simple interest on a certain sum at 10% per annum for 2 years is Rs. 631. Find the sum.                               Ans: 63100
10.                        The difference between the compound interest and the simple interest accrued on an amount of Rs. 18,000 in 2 years was Rs. 405. What was the rate of interest p.c.p.a? 15%
11.                        Divide Rs. 1301 between A and B, so that the amount of A after 7 years is equal to the amount of B after 9 years, the interest being compounded at 4% per annum. 676&625
12.                        A certain sum amounts to rs.7350 in 2 years and to rs.8575 in 3 years. Find the sum and rate percent.                                                                                                   Ans: 5400
13.                        A sum of money amounts to rs.6690 after 3 years and to rs.10,035 after 6 years on compound interest. Find the sum.                                                                    Ans: 4460
14.                        A sum of money doubles itself at compound interest in 15 years. In how many years will it become eight times?                                                                                              Ans: 45
15.                        What annual payment will discharge a debt of Rs.7620 due in 3years at 16 2/3% per annum interest?                                                                                                     Ans: 3430
16.                        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?                                                                                                        Ans: None
17.                        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?                                                                                                                      Ans: 10123.2
18.                        The compound interest on Rs. 20,480 at 6 ¼ per annum for 2 years 73 days, is : 2929
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?                         Ans: 662.02
20.                        Sam invested Rs. 15,000 @ 10% per annum for one year. If the interest is compounded half - yearly, then the amount received by Sam at the end of the year will be : 16537.5
21.                        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                                   Ans: 121
22.                        What is the difference between the compound interests on Rs. 5000 for 1 ½ years at 4% per annum compounded yearly and half - yearly?                                           Ans: 2.04
23.                        Find the compound interest on Rs. 15,625 for 9 months at 16% per annum compounded quarterly.                                                                                                               Ans: 1951
24.                        If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same sum at the same rate and for the same time? 51.25
25.                        What will be the difference between simple and compound interest @ 10% per annum on a sum of Rs. 1000 after 4 years?                                                               Ans: 64.10
26.                        The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per - annum reckoned half - yearly is :                                                Ans: 3
27.                        The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is :                                                                                                                              Ans: 2
28.                        At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?                                                                                              Ans: 6
29.                        The principal that amounts to Rs. 4913 in 3 years at 6 ¼ % per annum compound interest compounded annually, is :                                                                   Ans: 4096
30.                        The present worth of Rs.169 due in 2 years at 4% per annum compound interest is:
31.                        In how many years will a sum of Rs. 800 at 10% per annum compounded semiannually become Rs. 926.10?                                                                                           Ans: 1 ½  
32.                        If the compound interest on a sum for 2 years at 12 ½% per annum is Rs. 510, the simple interest on the same sum at the same rate for the same period of time is : Ans: 480
33.                        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:                                                                                                                                    Ans: 500
34.                        The 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 :                                                                                                                Ans: 1750
35.                        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?           Ans: 3972
36.                        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?   Ans: 8
37.                        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: 625
38.                        The compound interest on a sum of money for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and the simple interest for 3 years will be:                                        Ans: 98.56
39.                        The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum?                                                                  Ans: 8000
40.                        The difference between compound interest and simple interest on a sum for 2 years at 10% per annum, when the interest is compounded annually is Rs. 16. If the interest were compounded half - yearly, the difference in two interests would be: Ans: 24.81
41.                        A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs. 482 more, if the interest was payable half - yearly than if it was payable annually. The sum is:                                                                                                                       Ans: 20,000
42.                        On a sum of money, the simple interest for 2 years is Rs. 660, while the compound interest is Rs. 696.30, the rate of interest being the same in both the cases. The rate of interest is:                                                                                                                
43.                        The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half - yearly is :                                                                                     Ans: 6.09
44.                        A person lent out a certain sum on simple interest and the same sum on compound interest at a certain rate of interest per annum. He noticed that the ratio between the difference of compound interest and simple interest of 3 years and that of 2 years is    25 : 8. The rate of interest per annum is:                                                         Ans: 12 ½
45.                        Mr. Dua invested money in two schemes A and B offering compound interest @ 8, p.c.p.a. and 9 p.c.p.a respectively. If the total amount of interest accrued through two schemes together in two years was Rs. 4818.30 and the total amount invested was Rs. 27,000, what was the amount invested in Scheme A ?                              Ans: 12000
46.                        A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to-Rs. 840 in 4 years. The rate of interest per annum is:                                             Ans: 5
47.                        A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. The sum of money is:                                                      Ans: 4096
48.                        A sum of money becomes Rs. 13,380 after 3 years and Rs. 20,070 after 6 years on compound interest. The sum is:                                                                         Ans: 8920
49.                        A sum of Rs. 12,000 deposited at compound interest becomes double after 5 years. After 20 years, it will become:                                                                           Ans: 19200
50.                        A sum of money placed at compound interest doubles itself in 5 years. It will amount to eight times itself at the same rate of interest in:                                      Ans: 15
51.                        If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in :                                            Ans: 12
52.                        The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is :                                                   Ans: 4
53.                        A man borrows Rs. 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly installments. How much will each installment be?                                                                                                       Ans: 1352
54.                        What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?                                                                                       Ans: 551.25
55.                        A man borrows Rs. 12,500 at 20% compound interest. At the end of every year he pays Rs. 2000 as part repayment. How much does he still owe after three such installments?

56.                        A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% compound interest. The sum borrowed was:                          Ans: 1640

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