Compound Interest problems with answers to prepare for major bank exams. Use these solved compound interest problems for preparing of State Bank of Mysore Bank exams.
1. A sum amounts to Rs. 882 in 2 years at 5% compound interest. The sum is
A. Rs. 800
B. Rs. 822
C. Rs. 840
D. Rs. 816
2. Simple interest on a certain sum of money for 4 years at 5% per annum is half the compound interest on Rs. 3000 for 2 years at 10% per annum. The sum placed on simple interest is:
A. Rs.1575
B. Rs. 2200
C. Rs. 1200
D. Rs. 1625
3. What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.?
A. Rs. 14705.24
B. Rs. 14602.25
C. Rs. 14822.26
D. Rs. 14322.10
4. Andrews earns an interest of Rs. 1596 for the third year and Rs. 1400 for the second year on the same sum. Find the rate of interest if it is lent at compound interest.
A. 12%
B. 13%
C. 14%
D. 15%
5. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum is
A. Rs.600
B. Rs.645
C. Rs.525
D. Rs.625
6. The difference between simple interest and compound on Rs. 2400 for one year at 10% per annum reckoned half-yearly is:
A. Rs. 4
B. Rs. 6
C. Rs. 3
D. Rs. 2
7. On a sum of money, the simple interest for 2 years is Rs. 320, while the compound interest is Rs. 340, the rate of interest being the same in both the cases. The rate of interest is:
A. 15%
B. 14.25%
C. 12.5%
D. 10.5%
8. Divide Rs. 3364 between A and B, so that A's Share at the end of 5 years may equal to B's share at the end of 7 years, compound interest being at 5 percent.
A. Rs. 1764 and Rs.1600
B. Rs. 1756 and Rs.1608
C. Rs. 1722 and Rs.1642
D. None of these
9. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
A. 9%
B. 12%
C. 8%
D. 6%
10. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
A. 6.07%
B. 6.08%
C. 6.06%
D. 6.09%
Answers :
1. A 2. A 3. A 4. C 5. D
6. B 7. C 8. A 9. C 10. D
1. A sum amounts to Rs. 882 in 2 years at 5% compound interest. The sum is
A. Rs. 800
B. Rs. 822
C. Rs. 840
D. Rs. 816
2. Simple interest on a certain sum of money for 4 years at 5% per annum is half the compound interest on Rs. 3000 for 2 years at 10% per annum. The sum placed on simple interest is:
A. Rs.1575
B. Rs. 2200
C. Rs. 1200
D. Rs. 1625
3. What will be the compound interest on a sum of Rs. 40,000 after 3 years at the rate of 11 p.c.p.a.?
A. Rs. 14705.24
B. Rs. 14602.25
C. Rs. 14822.26
D. Rs. 14322.10
4. Andrews earns an interest of Rs. 1596 for the third year and Rs. 1400 for the second year on the same sum. Find the rate of interest if it is lent at compound interest.
A. 12%
B. 13%
C. 14%
D. 15%
5. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum is
A. Rs.600
B. Rs.645
C. Rs.525
D. Rs.625
6. The difference between simple interest and compound on Rs. 2400 for one year at 10% per annum reckoned half-yearly is:
A. Rs. 4
B. Rs. 6
C. Rs. 3
D. Rs. 2
7. On a sum of money, the simple interest for 2 years is Rs. 320, while the compound interest is Rs. 340, the rate of interest being the same in both the cases. The rate of interest is:
A. 15%
B. 14.25%
C. 12.5%
D. 10.5%
8. Divide Rs. 3364 between A and B, so that A's Share at the end of 5 years may equal to B's share at the end of 7 years, compound interest being at 5 percent.
A. Rs. 1764 and Rs.1600
B. Rs. 1756 and Rs.1608
C. Rs. 1722 and Rs.1642
D. None of these
9. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
A. 9%
B. 12%
C. 8%
D. 6%
10. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
A. 6.07%
B. 6.08%
C. 6.06%
D. 6.09%
Answers :
1. A 2. A 3. A 4. C 5. D
6. B 7. C 8. A 9. C 10. D
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