Problems on Simple Interest and Compound Interest for Bank Exams

Simple interest and Compound Interest Problems

Compound Interest Problems:

Q.11. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

(A) 3

(B) 4

(C) 5

(D)  6

Q.12. 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

(E) None of these

Q.13. 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.?

(A) Rs. 9000.30

(B) Rs. 9720

(C) Rs. 10123.20

(D)  Rs. 10483.20

(E) None of these

Q.14. What is the rate of interest p.c.p.a.?

I. An amount doubles itself in 5 years on simple interest.

II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.

III. Simple interest earned per annum is Rs. 2000.

(A) I only

(B) II and III only

(C)  All I, II and III

(D) Any two of the three

(E) I only or II and III only

Q.15. An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate?

I. The rate of interest was 8 p.c.p.a.

II. The total amount of simple interest was Rs. 1200.

(A) I alone sufficient while II alone not sufficient to answer

(B) II alone sufficient while I alone not sufficient to answer

(C) Either I or II alone sufficient to answer

(D) Both I and II are not sufficient to answer

(E) Both I and II are necessary to answer

Q.16. 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

Q.17. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

(A) 6%

(B) 6.5%

(C) 7%

(D)  7.5%

Q.18. What is the rate of compound interest?

I. The principal was invested for 4 years.

II. The earned interest was Rs. 1491.

(A) I alone sufficient while II alone not sufficient to answer

(B) II alone sufficient while I alone not sufficient to answer

(C)  Either I or II alone sufficient to answer

(D) Both I and II are not sufficient to answer

(E) Both I and II are necessary to answer

Q.19. What will be the compound interest earned on an amount of Rs. 5000 in 2 years?

I. The simple interest on the same amount at the same rate of interest in 5 years is Rs. 2000.

II. The compound interest and the simple interest earned in one year is the same.

III. The amount becomed more than double on compound interest in 10 years.

(A) I only

(B) I and II only

(C) II and III only

(D)  I and III only

(E) None of these

Q.20. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

(A) 1       

(B) 2

(C) 3       

(D) 4

If you are facing any problems in the simple and compund interest problems with answers, ask me in the comment section without any hesitation.