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Problems on Compound Interest

Q1. Find the compound interest on Rs. 5000 at 6% per annum for 2 years.
(a) 602
(b) 618
(c) 653
(d) 669

Q2. The difference between the simple interest and the compond interest on Rs 4000 at 10% per annum for 2 years is
(a) 20
(b) 30
(c) 40
(d) 50

Q3. The difference between compound interest and simple interest on Rs. 8000 at 5 % per annum for 3 years is
(a) 57
(b) 61
(c) 65
(d) 69

Q4. A tree increases annually by 1/16 of its height. By how much it increases after 2 years if it stands today 32 cm heigh ?
(a) 21.10 cm
(b) 24.26 cm
(c) 32.13 cm
(d) 36.12 cm

Q5. What will be the compound interest on Rs. 24000 after 2 years at 10% per annum
(a) 5000
(b) 5015
(c) 5040
(d) 5045



Q6. How much would a sum of Rs. 14000 approximately amount to in 2 years at 10 % per annum compounded half yearly
(a) 16025
(b) 16126
(c) 17017
(d) 17198

Q7. The difference between compound interest and simple interest at the same rate on Rs. 5000 for 2 years is Rs. 72. The rate of interest per annum is
(a) 12 %
(b) 16 %
(c) 17 %
(d) 19 %

Q8. The effective annual rate of interest, corresponding to a nominal rate of 4% per annum,payable half yearly is
(a) 2.30 %
(b) 3.45 %
(c) 4.04 %
(d) 5.12 %

Q9. A man deposited Rs. 8000 in a bank at 5% per annum simple interest. Another man deposited Rs. 6000 at 6% per annum compound interest. After 2 years the difference of their interest will be
(a) 20 Rs
(b) 25 Rs
(c) 31 Rs
(d) 35 Rs

Q10. A sum of money placed at compound interest doubles itself in 5 years. In how many years, it would amount to 8 times of itself at the same rate of interest ?
(a) 8 years
(b) 10 years
(c) 13 years
(d) 15 years


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