Compound Interest - Quantitative Aptitude (MCQ) questions

1)   Ramesh gets double the amount in 9 years when invested at compound interest. In how many years will the amount become four times itself?
- Published on 13 Apr 17

a. 13.5 years
b. 27 years
c. 9 years
d. 18 years
Answer  Explanation 

ANSWER: 18 years

Explanation:
compound interest


2)   When difference between compound and simple interest for three years is Rs. 122 at 5% rate per annum, the principal is ______
- Published on 12 Apr 17

a. Rs. 24400
b. Rs. 14400
c. Rs. 18000
d. Rs. 16000
Answer  Explanation 

ANSWER: Rs. 16000

Explanation:
compound interest


3)   If at same rate of interest, in 2 years, the simple interest is Rs. 40 and compound interest is Rs. 41, then what is the principal?
- Published on 12 Apr 17

a. Rs. 500
b. Rs. 400
c. Rs. 800
d. Rs. 820
Answer  Explanation 

ANSWER: Rs. 400

Explanation:
compound interest


4)   At the end of 2 years difference between simple and compound interest is Rs. 2166. If the principal is Rs. 60000, then what is the rate of interest?
- Published on 11 Apr 17

a. 38%
b. 18%
c. 19%
d. 17%
Answer  Explanation 

ANSWER: 19%

Explanation:
compound interest


5)   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
- Published on 05 Apr 17

a. 2(1/2)%
b. 4%
c. 5%
d. 6(2/3)%
Answer  Explanation 

ANSWER: 5%

Explanation:
compound interest


6)   The difference between simple and compound interest on a certain sum of money for 2 years at 4 percent per annum is Re.1. The sum of money is
- Published on 05 Apr 17

a. Rs. 600
b. Rs. 625
c. Rs. 560
d. Rs. 650
Answer  Explanation 

ANSWER: Rs. 625

Explanation:
compound interest


7)   Find the principal amount invested if the difference between Compound Interest and Simple Interest obtained for 3 years at rate of interest of 25% is Rs. 320?
- Published on 17 Mar 17

a. Rs. 1550
b. Rs. 1575.38
c. Rs. 1525.50
d. Rs. 1545.78
Answer  Explanation 

ANSWER: Rs. 1575.38

Explanation:
compound interest


8)   Amit gave his friend Rs. 11000. This loan was to be repaid in 3 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?
- Published on 15 Mar 17

a. Rs. 3666.67
b. Rs. 5221.97
c. Rs. 5000
d. Rs. 4528.69
Answer  Explanation 

ANSWER: Rs. 5221.97

Explanation:
compound interest


9)   An amount becomes 4 times in 6 years. In how many years will it become 64 times if the rate of interest remains unchanged?
- Published on 15 Mar 17

a. 24 years
b. 18 years
c. 16 years
d. 12 years
Answer  Explanation 

ANSWER: 18 years

Explanation:
compound interest


10)   Amit gave his friend Rs. 11000. This was to be repaid in 2 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?
- Published on 15 Mar 17

a. Rs. 7200
b. Rs. 8200
c. Rs. 5500
d. Rs. 6400
Answer  Explanation 

ANSWER: Rs. 7200

Explanation:
compound interest


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