Compound Interest Questions and Answers for Banks Exam and SSC
Compound interest questions and answers for competitive exams
21. Sam invested Rs. 15,000@10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be :
(A) Rs. 16,500
(B) Rs. 16,525.50
(C) Rs. 16,537.50
(D) Rs. 18,150
(E) none of these
Ans . C
22. 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
Ans . B
23. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
(A) 2
(B)
(C) 3
(D) 4
Ans . A
24. In how many years will a sum of Rs. 800 at 10% per annum compounded semi-annually become Rs. 926.10?
(A)
(B)
(C)
(D)
Ans . B
25. The compound interest on a certain sum of money for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
(A) 400
(B) 500
(C) 600
(D) 800
Ans . B
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