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#1. A bank offers 5% compound interest calculated on halfyearly 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:
Answer: Option B
Explanation:
Amount 








= Rs. 3321. 
C.I. = Rs. (3321 – 3200) = Rs. 121
#2. 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:
Answer: Option A
Explanation:
Let the sum be Rs. x. Then,
C.I. =  x  1  4  2  – x  =  676  x  – x  =  51  x.  
100  625  625 
S.I. =  x x 4 x 2  =  2x  .  
100  25 
51x  –  2x  = 1  
625  25 
x = 625.
#3. 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?
Answer: Option C
Explanation:
Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
R =  100 x 60  = 10% p.a.  
100 x 6 
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
C.I. 




= 3972. 
#4. What is the difference between the compound interests on Rs. 5000 for 1.5 years at 4% per annum compounded yearly and halfyearly?
Answer: Option A
Explanation:
C.I. when interest compounded yearly 




= Rs. 5304. 
C.I. when interest is compounded halfyearly 




= Rs. 5306.04 
Difference = Rs. (5306.04 – 5304) = Rs. 2.04
#5. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Answer: Option A
Explanation:
Amount = Rs. (30000 4347) = Rs. 34347.
Let the time be n years.
Then, 30000  1  7  n  = 34347  
100 
107  n  =  34347  =  11449  =  107  2  
100  30000  10000  100 
n = 2 years.
#6. 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.?
Answer: Option C
Explanation:
Amount 




= Rs. 35123.20 
C.I. = Rs. (35123.20 – 25000) = Rs. 10123.20
#7. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
Answer: Option A
Explanation:
Let the rate be R% p.a.
Then, 1200 x  1  R  2  = 1348.32  
100 
1  R  2  =  134832  =  11236  
100  120000  10000 
1  R  2  =  106  2  
100  100 
1  R  =  106 
100  100 
R = 6%
#8. The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
Answer: Option B
Explanation:
P  1  20  ^n  > 2P  6  ^n  > 2.  
100  5 
Now,  6  x  6  x  6  x  6  > 2.  
5  5  5  5 
So, n = 4 years.
#9. 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?
Answer: Option C
Explanation:
Amount 





#10. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable halfyearly is:
Answer: Option D
Explanation:
Amount of Rs. 100 for 1 year when compounded halfyearly 
= Rs.  100 x  1  3  ^2  = Rs. 106.09  
100 
Effective rate = (106.09 – 100)% = 6.09%
#11. 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:
Answer: Option C
Explanation:
C.I. 




= Rs. 840. 
Sum = Rs.  420 x 100  = Rs. 1750.  
3 x 8 
#12. 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?
Answer: Option A
Explanation:
Sum = Rs.  50 x 100  = Rs. 500.  
2 x 5 
Amount 




= Rs. 551.25 
C.I. = Rs. (551.25 – 500) = Rs. 51.25
#13. The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned halfyearly is:
Answer: Option B
Explanation:
S.I. = Rs  1200 x 10 x 1  = Rs. 120.  
100 
C.I. = Rs.  1200 x  1  5  ^2  – 1200  = Rs. 123.  
100 
Difference = Rs. (123 – 120) = Rs. 3.
#14. The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
Answer: Option A
Explanation:
15000 x  1  R  ^2  – 15000  –  15000 x R x 2  = 96  
100  100 
15000  1  R  ^2  – 1 –  2R  = 96  
100  100 
15000  (100 R)^{2} – 10000 – (200 x R)  = 96  
10000 
R^{2} =  96 x 2  = 64  
3 
R = 8.
Rate = 8%.
#15. 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:
Answer: Option B
Explanation:
Let the sum be Rs. P.
Then,  P  1  10  ^2  – P  = 525  
100 
P  11  ^2  – 1  = 525  
10 
P =  525 x 100  = 2500.  
21 
Sum = Rs . 2500.
So, S.I. = Rs.  2500 x 5 x 4  = Rs. 500  
100 
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