Compound Interest Questions

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  1. A sum of money doubles itself in 4 years at compound interest. When will it amounts to 8 times itself at the same rate of interest ?
  1. 12 years
  2. 24 years
  3. 18 years
  4. 16 years

View Answer

Answer is a

 

2. If the amount on a certain principle in 3years at 12% rate of interest compounded annually is Rs. 12,000, what will be the amount (in Rs.) after the 4th year?

  1. 15440
  2. 14550
  3. 14330
  4. 13440

View Answer

Answer is d

 

3. A certain grows at an annual interest rate of 12%, compounded monthly. Which of the following equations can be solved to find the number of years, y, that it would take for the investment to increase by a factor of 64?

  1. 1/64 = (1.04)12y
  2. 8=(1.01)6y
  3. 64=(1.04)12y
  4. 64=(1.04)12y

View Answer

Answer is c

 

4. Compound interest on a sum of money for 2years at 4 percent per annum is ₹2,448. After 2 Years the simple interest of the same sum of money at the same rate of interest will be

  1. ₹ 2400
  2. ₹ 2250
  3. ₹ 2500
  4. ₹ 2360

View Answer

Answer is a

 

5. If the compound interest at a rate of 5% per annum for 2 years on a certain sum of money is ₹246. Then the simple interest on an equivalent sum for 3 years at a rate of 6% once a year is

  1. ₹450
  2. ₹432
  3. ₹435
  4. ₹430

View Answer

Answer is b

 
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