1. Compound interest on Rs. 24576 at 12.
5% per annum for 1 year 146
days will be:
a. 3840
b. 3888
c. 3924
d. 3960
2. The ratio of the difference between compound interest and simple
interest for 2 years and for 3 years is 4:13 at a certain rate of interest
on a certain sum of money. Find the rate percent.
a. 15%
b. 20%
c. 25%
d. 30%
3. A person lent out a certain sum on simple interest and the same sum
on compound interest at a certain rate of interest. He noticed that the
ratio between the difference of compound interest and simple interest
for 3 years and for 2 years is 19:6. Find the rate of interest.
a. 12.5%
b. 15%
c. 17.5%
d. 20%
4. A sum of money is lent out at a certain rate of interest at compound
interest. If instead the same amount was lent out at simple interest, the
interest for the first two years reduces by Rs. 200 and that for the first
three years reduces by Rs. 620. Find the sum.
a. Rs. 25000
b. Rs. 30000
c. Rs. 35000
d. Rs. 40000
5. What will be the compound interest on Rs. 1200 for 2 years if the rate
is 8% for the first year and 12% for the second year?
a. Rs. 240.96
b. Rs. 250.96
c. Rs. 260.96
d. Rs. 270.96
6. If compound interest on a certain sum for 2 years at 4% per annum is
Rs. 163.20, then simple interest on the same sum for the same time at
the same rate will be:
a. Rs. 150
b. Rs. 155
c. Rs. 160
d. Rs. 165
7. Compound interest on a certain sum for 2 years at 15% per annum is
Rs. 322.50. Then simple interest at the same rate for the same time will
be:
a. Rs. 300
b. Rs. 310
c. Rs. 320
d. Rs. 330
8. At a certain rate of interest per annum, the simple interest on a sum of
money for 1 year is Rs. 400 and the compound interest on the same
sum for 2 years is Rs. 820. Find the sum.
a. Rs. 5000
b. Rs. 6000
c. Rs. 7000
d. Rs. 8000
9. An amount on compound interest grows up to Rs. 4320 in 3 years and
up to Rs. 4536 in 4 years. Find the rate percent.
a. 4%
b. 5%
c. 6%
d. 8%
10. Rohit took a loan of Rs. 25000 at 12% per annum compound interest
for 3 years. If the rate is increased to 15% for the last year, what extra
amount does he have to pay?
a. Rs. 1012.50
b. Rs. 1125.00
c. Rs. 1237.50
d. Rs. 1350.00
11. A man gives 60% of his savings of Rs. 125000 to his wife and divides
the remaining sum between his two sons A and B having ages 14 and
12 years respectively. He divides in such a way that each son when
they attain the age of 18 years would receive the same amount at 8%
compound interest. What is the share of A?
a. Rs. 24000
b. Rs. 25000
c. Rs. 26000
d. Rs. 27000
12. What does Rs. 1500 amount to in 2 years with compound interest at
the rate of 5% for the first year and 10% for the second year?
a. Rs. 1732.50
b. Rs. 1742.50
c. Rs. 1752.50
d. Rs. 1762.50
13. If Rs. 5000 amounts to Rs. 5618 in two years under compound interest,
interest being compounded annually, what is the annual rate of
interest?
a. 6%
b. 7%
c. 8%
d. 9%
14. A sum under compound interest, interest being compounded annually,
amounts to Rs. 8640 in two years and Rs. 10368 in three years. Find
the rate of interest.
a. 15%
b. 18%
c. 20%
d. 25%
15. The compound interest on a sum for the third year is Rs. 1155, interest
being compounded annually. The interest on it for the fourth year is Rs.
1270.50. Find the rate of interest.
a. 8%
b. 9%
c. 10%
d. 11%
16. A sum of money becomes eight times itself in twelve years at
compound interest. In how many years will the same sum become
sixty-four times itself?
a. 18 years
b. 24 years
c. 30 years
d. 36 years
17. A sum becomes 3.375 times of itself in three years at compound
interest. Find the annual rate of interest.
a. 40%
b. 45%
c. 50%
d. 55%
18. Find the interest earned in the first year on Rs. 500 at 24% per annum
compound interest, interest compounded every six months.
a. Rs. 120
b. Rs. 122
c. Rs. 124
d. Rs. 126
19. Which of the following schemes of computing interest yields the
maximum interest for a year?
a. Interest compounded monthly at 1.5% per month
b. Interest compounded quarterly at 6% per quarter
c. Interest compounded every six months at 13% for every 6 months
d. Interest compounded every year at 28% per annum
20. Find the effective rate of interest if the rate of interest is 36% per
annum and the interest is compounded quarterly.
a. 38%
b. 39%
c. 40%
d. 41.16%
Answer Key (verified):
1. a (3840)
2. c (25%)
3. d (20%)
4. a (Rs. 25000)
5. a (Rs. 240.96)
6. c (Rs. 160)
7. a (Rs. 300)
8. a (Rs. 5000)
9. b (5%)
10. a (Rs. 1012.50)
11. b (Rs. 25000)
12. a (Rs. 1732.50)
13. a (6%)
14. c (20%)
15. c (10%)
16. b (24 years)
17. c (50%)
18. b (Rs. 122)
19. a (Interest compounded monthly at 1.5% per month)
20. d (41.16%)