## Compound Interest MCQ Questions and Answers

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In this section we provide lots of objective question on Compound Interest in Arithmetic Ability.

1) A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:

2) 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 (in Rs.) is:

3) There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

4) What is the difference between the compound interests on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?

5) The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

6) What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?

7) At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

8) The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

9) Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

10) The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: