NEOCODE

Simple and Compound Interest MCQs

1. A sum of Rs. 500 amounts to Rs. 650 in 3 years at simple interest. If the interest rate is increased by 4%, it would amount to how much for the same time period?

2. Simple interest on a sum of Rs. 1550 for 2 years is Rs. 60 more than the simple interest on Rs. 1450 for the same duration and at the same interest. Find the rate of interest.

3. A sum of money invested for 5 years at 7.5% per annum yield Rs. 180000 simple interest. What is the total amount received at the end of 5 years?

4. Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years?

5. A certain sum at a certain rate of simple interest amounts to Rs. 2250 in 4 years and Rs. 2400 in 7 years. Find the sum and rate of interest.

6. Rs. 20000 is being compounded at 20% per annum. If the rate of interest is charged half-yearly, what will be the amount after 2 years?

7. The compound interest earned on a sum in 3 years at 15% per annum compounded annually is Rs. 6500.52. What is the sum?

8. Sudharshan invested Rs. 15000 at compound interest at the rate of 10% per annum for one year. If the interest is compounded every six months, what amount will Sudharshan get at the end of the year?

9. The compound interest earned by Suresh on a certain amount at the end of two years at the rate of 8% per annum was Rs. 1414.4. What was the total amount that Suresh got back at the end of two years in the form of principal plus interest earned?

10. How much will Rs. 20000 amount to (approximately) in 2 years at the rate of 15% per annum, the interest being compounded semi-annually?

11. What will be the compound interest on a sum of Rs. 3000 at 10% per annum for 3/2 years (if interest compounded half-yearly)?

12. The compound interest on Rs. 8000 for 3 years at 8% for the first year, 10% for the second year, and 12% for the third year will be:

13. If the compound interest on a sum of Rs. 5000 at the rate of 10% per annum is Rs. 1050, then what is the time period (interest compounded yearly)?

14. Rs. 12000 amounts to Rs. 20736 in 3 years at r% per annum of compound interest. Find the value of ‘r’?

15. A sum of Rs. 400 would become Rs. 441 after 2 years at r% compound interest. Find the value of ‘r’?

16. The effective annual rate of interest corresponding to a nominal rate of 8% per annum payable half-yearly is:

17. A sum of money doubles in 3 years at r% compound interest. In 9 years, it will be k times the original principal. What is the value of k?

18. Find the difference between the simple interest and compound interest on a principal of Rs. 5000 at the rate of 15% per annum for two years.

19. What will be the difference between the simple interest accrued on a sum of Rs. 4500 at 12% per annum for 2 years and that on a sum of Rs. 5600 at 9% per annum for 2 years?

20. The simple interest accrued on an amount of Rs. 20000 at the end of three years is Rs. 7200. What would be the compound interest accrued on the same amount at the same rate in the same period?