Compound Interest MCQ
This article contains a Quizlet of 13 MCQs (multiple choice questions) on 'Compound Interest' that are fetched from previous competitive exams like Bank P.O, M.B.A, M.A.T, etc.
In compound interest, the interest accrues the initial principal and the accumulated interest from previous periods.
Amount = P[1 + (R/100)]t
Where, P = Principal
R = Rate of interest per annum
t = Time in years
MCQ on Compound Interest
The test consists of 13 questions on Compound Interest.
No negative marking for this test.
No Time limit
The pass percentage is 70%
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Submit the test to calculate your score once you are done with all the questions.
Complexity Level- Moderate
Q1. Calculate the compound interest accrued on
an amount of Rs. 8000 at the rate of 15 p.c.p.a. in 3
years
Q2: Select the correct value of the compound interest accrued on
an amount of 8400 @ 12.5 p.c.p.a. at the end of 3
years
Q3. What will be the compound interest on Rs. 2800 for 18 months at
10% p.a.?
Q4: Peter borrows Rs. 4000 at a 15% compound rate
of interest. At the end of each year, he pays back
Rs. 1500. How much amount should be paid at the
end of the third year to clear all his dues?
Q5: Calculate the period (in years) when the compound interest on Rs. 30,000 at 7% per annum
is 4347.
Q6: What is the rate of interest p.c.p.a when the compound interest accrued on an amount of
Rs. 26500 in two years is Rs. 9775.85.
Q7: Rs. 2000 amounts to Rs. 2226.05 in 2 years at compound
interest. What will be the rate of interest?
Q8: A man invests Rs. 4000 for 3 years at compound
interest. The money amounts to
Rs. 4320 after one year. What will be the amount (to the nearest rupee)
due at the end of 3 years?
Q9: Divide Rs. 8840 among Mukesh and Shyam, such that
the amount received by Mukesh at the end of 8 years is equal to the amount received by
Shyam at the end of 10 years at a 10% compounded rate of interest.
Q10: A sum of Rs. 12,000 deposited at compound interest
becomes double after 5 years. After 20 years, it will
become
Q11: A sum of money at compound interest doubles itself
in 15 years. It will become eight times of itself in
Q12: A financial firm declares that, at a certain
compound interest rate, a sum of money deposited
by anyone will become 8 times in 3 years. Then in how many years will it become 16
times, if the same amount is deposited at the same compound rate of
interest?
Q13: The least number of complete years in which a sum
of money put out at 20% compound interest will be
more than doubled is