Compound Interest Questions and Answers for Banks Exam and SSC

Here are the selective and important Compound interest questions and answers for banks exam and SSC. These Compound interest questions have been asked in competitive exams and there are chances to ask again in other competitive exams.

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Compound interest questions and answers for competitive exams

1. What is the difference between the compound interests on Rs. 5000 for  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

(E) none of these 

2.The principle that amounts to Rs. 4913 in 3 years at  per annum compound interest compounded annually, is:

(A) Rs. 3096

(B) Rs. 4076

(C) Rs. 4085

(D) Rs. 4096

3. If the compound interest on a sum for 2 year at  per annum is Rs. 510, the simple interest on the same sum at the same rate for the same period of time is 

(A) Rs.400

(B) Rs.450

(C) Rs.460

(D) Rs.480

4. The simple interest on a certain sum of money for 3 year at 8% per annum is half the compounded interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:

(A) Rs.1550

(B) Rs. 1650

(C) Rs. 1750

(D) Rs. 2000

5. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4 % per annum is Rs. 1. The sum (in Rs.) is:

(A) 625

(B) 630

(C) 640

(D) 650

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