Compound Interest Aptitude Questions and Answers | MCQ Problems

2022-02-22

Compound Interest Aptitude Questions and Answers | MCQ Problems: Compound Interest or Compounding Interest is the addition of the Principal Sum of a deposit or loan. Moreover, in some cases, we have called it Interest. Compound Interest is nothing but the Simple Interest. So, all the candidates who are waiting to take the Compound Interest Online Test can relax and start taking the Quiz. Moreover, by scrolling down this article, competitors can get the necessary information such as compound interest examples, compound interest calculator daily, compound interest maths, compound interest formula, compound interest problems, compound interest loan calculator, compound interest loan calculator, etc. In the depth of this article, we have given the Formulas too. Therefore, all the interested candidates can speed up and take the Compound Interest Quiz. Also, get a complete grip on Compound Interest Aptitude Questions and Answers.

Table of Contents

Compound Interest Aptitude Questions and Answers | MCQ Problems

Quiz Name	Compound Interest
Category	Aptitude
Number of Questions	20
Time	30 Minutes
Exam Type	MCQ (Multiple Choice Questions)

Compound Interest Quiz Online Test

1. Arpita invested her saving in two schemes at the rate of 15% p.a. and 25% p.a. on C.I respectively in the ratio 7:5. If after 2 years, Arpita gets a total interest of Rs.507 from both the schemes, so find the total amount invested by Arpita?

A. 6000 Rs
B. 4800 Rs
C. 5000 Rs
D. 4500 Rs
E. 1200 Rs

Answer: E

Explanation:

2. A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.96.4 more, if the interest was payable half yearly, then find the sum?

A. Rs. 2,000
B. Rs. 2,500
C. Rs. 3,750
D. Rs. 4,250
E. Rs 4,000

Answer: E

Explanation:

Let the sum is 100%
Interest for 2 years compounds annually
1st years interest = 20%
2nd year interest = 20% + 4% = 24%
Total interest = 20% + 24% = 44%
If the interest was payable half yearly
First six month interest = 10%
Next six month interest = 10% + 1%
Next six month interest = 10% + 2.1%
Last six month interest = 10% + 3.31%
Total interest = 46.41%
Half yearly interest more than annually interest = 46.41%-44% = 2.41%
2.41% = 96.4
1% = 96.4/2.41
100% = 100 x 96.4/2.41
= Rs 4,000

3. A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.96.4 more, if the interest was payable half yearly, then find the sum?

A. Rs. 2,000
B. Rs. 2,500
C. Rs. 3,750
D. Rs. 4,250
E. Rs 4,000

Answer: E

Explanation:

4. The compound interest accrued on an amount at the end of 3 years at the rate of 20% per annum is Rs.5824. What is the Principal?

A. Rs.8000
B. Rs.9000
C. Rs.7500
D. Rs.10000
E. Rs.15000

Answer: A

Explanation:

Here, given C.I = Rs.5824, T= 3years and R = 20%
Let Principal = 100
1st year interest = 20%
2nd year interest = 20%+4% = 24%
3rd year interest = 20% + 4% + 4.8% = 28.8%
Total interest = 20% +24% + 28.8% = 72.8%
72.8% = 5824

5. Shivam invested Rs. X in scheme P offering 12% p.a. at SI for 3 years and received Rs.14,400 as interest from scheme P. If Shivam invested Rs. (X + 10,000) at 20% p.a. at CI compounding annually for 2 years, then find the interest received by Shivam.

A. Rs.22,000
B. Rs.24,000
C. Rs.25,000
D. Rs.30,000
E. Rs.18,000

Answer: A

Explanation:

6. Shikhar deposited Rs 15000 in a scheme for 2 yrs which offers compound interest at the rate of 10 %. Due to some emergency, he withdrew 12000 at the end of 1st year. How much amount he will get at the end of 2nd year?

A. Rs 4600
B. Rs 5450
C. Rs 4950
D. Rs 5600
E. Rs 5870

Answer: C

Explanation:

Total amount that sikhar have at the end of 1st year= Rs(15000×1.1)
=Rs 16500
Amount withdrawn at the end of 1st year= Rs 12000
Principal amount for 2nd year on which shikhar will get interest=Rs(16500 -12000)
=Rs 4500
Hence, total amount shikhar will get at the end of 2nd year=Rs (4500×1.1)
=Rs 4950

7. The difference between the simple and compound interest on a certain sum of money for 2 years at 5 % per annum is Rs.150. The sum (in Rs.) is?

A. 6000
B. 20000
C. 60000
D. 2000
E. None of these

Answer: C

Explanation:

8. There is 50% increase in a sum in 5 years at simple interest. What will be the compound interest on Rs. 3,000 after 3 years at the same rate?

A. Rs. 773
B. Rs. 873
C. Rs. 535
D. Rs. 993
E. Rs. 812

Answer: D

Explanation:

9. If a certain sum of money amounts to Rs. 15000 in 8 years and Rs. 22500 in 16 years at CI. Find the principal.

A. Rs. 12,000
B. Rs. 10000
C. Rs. 10,500
D. Rs. 20,000
E. None of these

Answer: B

Explanation:

10. If Rs.1400 is invested for 2 years at 20%(@simple interest) and same amount at 10% for 2 years(@compound interest). Find the total Interest earned after 2 years.

A. Rs.854
B. Rs.874
C. Rs.864
D. Rs.844
E. Rs.834

Answer: A

Explanation:

Simple interest for 2 years = 1400 × 2 × 20 ÷ 100
= Rs.560
Equivalent rate of 2 years at compound interest,
= 10 + 10 + 100/100
= 21%
C.I = 1400 × 21%
= Rs.294
Required answer = 560 + 294
= Rs.854

11. Aman borrows Rs. 6000 at rate of 20% compounded annually. At the end of each year, he pays back Rs. 2000. How much amount should he pay at the end of the 3rd year to clear all his dues?

A. Rs. 4088
B. Rs. 5808
C. Rs. 2544
D. Rs. 5088
E. Rs. 6088

Answer: D

Explanation:

Let he should pay Rs x at 3rd year.

⇒ x = 10368 – 2880 – 2400 = Rs. 5088

12. A sum of Rs. 1700, when invested in a scheme offering compound interest (compounded annually) for 2 years amounts to Rs. 4913. What is the rate of interest of the given scheme (in percent per annum)?

A. 80
B. 85
C. 72.5
D. 75
E. 70

Answer: E

Explanation:

13. Bharat invested Rs. P at the rate of 25% per annum on compound interest for two years and gets total interest of Rs. 7425. If Bharat invest Rs. (P + 1800) for another two years at additional rate of 5%, then what will be compound interest on that investment?

A. Rs. 10550
B. Rs. 12250
C. Rs. 10350
D. Rs. 13200
E. Rs. 15000

Answer: C

Explanation:

14. Amit invested Rs. 45000 in a scheme offering 10% compound interest for 3 years. Ajay invested Rs. ‘x’ less than Amit in another scheme offering 12% simple interest for 3 years. Find the value of ‘x’ if the interest earned by Amit is Rs. 315 more than the interest earned by Ajay.

A. Rs. 3500
B. Rs. 4500
C. Rs. 7500
D. Rs. 6000
E. Rs. 4000

Answer: B

Explanation:

15. Arjun has an amount of Rs 12000 and invested it in two schemes, partly at 10% rate compounded annually and remaining at 20% rate compounded annually. If he obtained total CI at the end of 2 years from both the schemes is Rs. 3693, then find amount invested at 20% rate.

A. Rs. 5300
B. Rs. 6900
C. Rs. 5100
D. Rs. 6700
E. Rs. 5500

Answer: C

Explanation:

16. Ms. K invested money in two schemes A and B offering compound interest 8% p.a. and 9% p.a. respectively. If the total amount of interest accrued through two schemes together in two years was Rs. 5,527.30 and the total amount invested was Rs. 31,000, what was the amount invested in Scheme A?

A. Rs. 15000
B. Rs. 16000
C. Rs. 13000
D. Rs. 14000
E. None

Answer: D

Explanation:

17. At what percentage per annum will Rs. 6000 amount to Rs. 7986 in 3 years if the interest is compounded yearly?

A. 15
B. 10
C. 11
D. 9
E. None

Answer: B

Explanation:

As given in the question, the principal amount (P) = Rs 6000 and
Amount (A) = Rs 7986
Time (n) = 3 years
We need to find out the rate percent.

18. What is the compound interest (in Rs) on a sum of Rs 25,600 for 114114 years at 6% per annum, if interest is compounded 5 monthly?

A. Rs 1098
B. Rs 1865
C. Rs 1676
D. Rs 1968.4
E. None

Answer: D

Explanation:

19. The difference between the compound interest and simple interest on 8% per annum for 2 years is Rs 19.20 What is the value of P?

A. 2500
B. 3200
C. 2800
D. 3000
E. None

Answer: D

Explanation:

20. What will be the compound interest on a sum of Rs.1200 for 15 months at rate of 24% per annum when the interest is compounded 5 monthly?

A. 396
B. 397.2
C. 372.2
D. 360.2
E. None

Answer: B

Explanation:

21. The difference between CI in two years and CI in first year is Rs 56. The rate of interest for first and second year is 14.28% and 11.11% respectively. Then find the principal.

A. Rs 441
B. Rs 411
C. Rs 391
D. Rs 361
E. None

Answer: A

Explanation:

22. The difference between CI for third year and second year is Rs 28.35. If rate is 5% per annum, then find the sum?

A. Rs. 10,000
B. Rs. 10,800
C. Rs. 10,600
D. Rs. 10,400
E. None

Answer: B

Explanation:

23. The difference between CI and SI for the three years is Rs. 152.5. If the rate of interest is 5%, then find the principal?

A. Rs. 20,000
B. Rs. 22,500
C. Rs. 24,000
D. Rs. 26,000
E. None

Answer: A

Explanation:

24. A sum of Rs. 16820 is invested into two part such that amount from the first part at the end of 5 years is equal to the amount from the second part at the end of 3 years at compound rate of interest of 5% per annum. What was the second part of sum?

A. Rs. 8000
B. Rs. 8820
C. Rs. 8520
D. Rs. 8680
E. None

Answer: B

Explanation:

25. A sum of 5120 rupees, invested at 25% p.a., amounts to 7290 in a certain time, if the interest is compound half – yearly. What will be the compound interest on the half of this sum for the same time at 2/5th of the previous interest rate, when interest is compounded annually?

A. 306.6
B. 356.4
C. 396.8
D. 496.8
E. None

Answer: C

Explanation:

26. What will be the difference between the compound interest (interest is compounded annually) and simple interest on a sum of ₹ 3200 at the rate of 20% per annum for 2 years?

A. ₹128
B. ₹148
C. ₹132
D. ₹96
E. None

Answer: A

Explanation:

Compound Interest MCQ Problems

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Compound Interest Aptitude Questions and Answers | MCQ Problems

Compound Interest Quiz Online Test

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