10 Important MCQ on Compound Interest For SBI Clerical Canara Bank PO DMRC Railway Exam 2018

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1. What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually
A.) Rs.2725.75/-
B.) Rs.2527.57/-
C.) Rs.2227.57/-
D.) Rs.2520.57/-

2. Certain sum becomes 3 times it self at compound interest in 10 years. In how many years it becomes 9 times?
A.) 25 years
B.) 27 years
C.) 30 years
D.) 20 years

3. An amount at compound interest sums to Rs.17640/- in 2 years and to Rs.18522/- in 3 years at the same rate of interest. Find the rate percentage?
A.) 5%
B.) 6%
C.) 4%
D.)3%

4. Certain loan amount was repaid in two annual installments of Rs.1331/- each. If the rate of interest be 10% per annum Compounded annually the sum borrowed was?
A.) Rs.121/-
B.) Rs.2130/-
C.) Rs.2310/-
D.) Rs.1331/-

5. The difference between the compound interest and simple interest on a certain sum of money at 5% per annum for 2 years is 45. Then the original sum is?
A.) Rs.16000/-
B.) Rs.15000/-
C.) Rs.18000/-
D.) Rs.20000/-

6.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:
A.)Rs. 120
B.)Rs. 121
C.)Rs. 122
D.)Rs. 123

7.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:
A.)625
B.)630
C.)640
D.)650

8.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?
A.)Rs. 2160
B.)Rs. 3120
C.)Rs. 3972
D.)Rs. 6240

9.What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
A.)Rs. 2.04
B.)Rs. 3.06
C.)Rs. 4.80
D.)Rs. 8.30

10. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
A.)2
B.)2.5
C.)3
D)4)