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 Compound Interest Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  COMPOUND  INTEREST  QUESTIONS

 

 

Let Principal = P, Rate = R% per annum, Time = n years.

I.

1.  When interest is compound Annually:

Amount =P1+R100n

2.  When interest is compounded Half-yearly:

Amount = P1+(R2)1002n

3.  When interest is compounded Quarterly:

Amount = P1+R41004n

 

II.

1.  When interest is compounded Annually but time is in fraction, say 325 years.

Amount = P1+R1003×1+25R100

2.  When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.

Then, Amount = P1+R11001+R21001+R3100

 

III.  Present worth of Rs. x due n years hence is given by:

Present Worth = x1+R100n

Q:

The amount received at 10% per annum compound interest after 3 yrs is Rs 10,648. What was the principal (in Rs)?

A) 8000 B) 9000
C) 8500 D) 7500
 
Answer & Explanation Answer: A) 8000

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Q:

A certain sum when invested at 5% interest compounded annually for 3 years yields an interest of Rs.2522. Find the Principal?

A) Rs. 12,522 B) Rs. 15,200
C) Rs. 16,000 D) Rs. 17,200
 
Answer & Explanation Answer: C) Rs. 16,000

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Q:

In what time(in years) will Rs. 8000 amount to Rs. 9261 at 5% per annum, compounded annually?

A) 3 B) 3.5
C) 4 D) 4.5
 
Answer & Explanation Answer: A) 3

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Q:

In how many years will Rs 25,000 yield Rs 8,275 as compound interest at 10% per annum compounded annually?

A) 2 B) 4
C) 3 D) 5
 
Answer & Explanation Answer: C) 3

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Q:

If compound interest received on a certain amount in the 3rd year is Rs. 1,240, what will be the compound interest (in Rs) for the 4th year on the same amount at 9% rate of interest?

A) 1245.6 B) 1521.6
C) 1351.6 D) 1220.6
 
Answer & Explanation Answer: C) 1351.6

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Q:

At what rate of compound interest per annum will a sum of Rs 20000 become Rs 25088 in 2 years?

A) 24 percent B) 8 percent
C) 12 percent D) 16 percent
 
Answer & Explanation Answer: C) 12 percent

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Q:

The compound interest earned in two years at 12% per annum is Rs 10176. What is the sum (in Rs) invested?

A) 50000 B) 60000
C) 40000 D) 80000
 
Answer & Explanation Answer: C) 40000

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Q:

If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate of interest?

A) 10 percent B) 5 percent
C) 20 percent D) 16 percent
 
Answer & Explanation Answer: A) 10 percent

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