Compound Interest on Arithmetic Aptitude related Questions and Answers

Question 1 : The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
1. 6.06%
2. 6.07%
3. 6.08%
4. 6.09%
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Question 2 : Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?
1. Rs. 8600
2. Rs. 8620
3. Rs. 8820
4. None of these
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Question 3 : The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
1. 3
2. 4
3. 5
4. 6
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Question 4 : At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
1. 6%
2. 6.50%
3. 7%
4. 7.50%
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Question 5 : The compound interest on a certain sum 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
1. Rs. 400
2. Rs. 500
3. Rs. 600
4. Rs. 800
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Question 6 : The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
1. Rs. 2.50
2. Rs. 3
3. Rs. 3.75
4. Rs. 4
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Question 7 : If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
1. Rs. 51.25
2. Rs. 52
3. Rs. 54.25
4. Rs. 60
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Question 8 : Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
1. Rs. 1550
2. Rs. 1650
3. Rs. 1750
4. Rs. 2000
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Question 9 : The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
1. 2
2. 3
3. 4
4. 6
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Question 10 : What is the difference between the compound interests on Rs. 5000 for 3/2 years at 4% per annum compounded yearly and half-yearly?
1. Rs. 2.04
2. Rs. 3.06
3. Rs. 4.80
4.  8.30
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