# QUANT QUIZ-20 BASED ON COMPOUND INTEREST

MATH TEST-31: COMPOUND INTEREST
1. A person took a loan of Rs 6000 for 3 yrs at 5% per annum compound interest. He repaid Rs 2100 in each of first 2 years. The amount he should pay at the end of 3rd year to clear his debts.
a. 2425.0
b. 2745.0
c. 2552.5
d. 2635.5

2. If the sum of money placed at CI, compounded annually, triples itself in 5 yrs, then it will be 27 times of itself in how many years:
a. 10
b. 8
c. 15
d. none

3. The difference between simple and compound interest compounded every 6 months at the rate of 10% p.a at the end of 1 yr is Rs 50. Find the sum.
a. 30000
b. 20000
c. 25000
d. 50000

4. In what time will Rs. 390625 amount to Rs 456976 at 4% compound interest:
a. 2 yr
b. 3 yr
c. 4 yr
d. 5 yr

5. Divide Rs 2708 between A and B so that A’s share at the end of 6 yrs may be equal to B’s share at the end of 8 yrs compound at 8%:
a. 1458 , 1250
b. 1448,1260
c. 1438, 1270
d. 1468 , 1240

6. A bank offers 10% compound interest compounded half yearly. By depositing Rs 2000 each on 1st Jan and 1st July of a year interest gained is:
a. 205
b.305
c. 300
d. 200

7. There is 30% increase in an amount in 6 yrs at Simple interest .What will be the compound interest of Rs. 6000 after 3 yrs at the same rate:
a. 1245.75
b. 1250.25
c. 1200.75
d. 1260.50

8. The difference between effective annual interest corresponding to 8% per annum payable yearly and half yearly at the end of 2 yrs:
a. 40
b. .43
c. .45
d. . 44

9. The difference between compound interest and simple interest on an amount of Rs 25000 for 2 yrs is 62.5 .What is the rate:
a. 8
b.10
c. 5
d. none

10. The compound interest on a certain sum for 2 yrs at 10% per annum is Rs 12. The simple interest on the same sum for double the time and half the rate is:
a. 200
b. 250
c. 120
d. 240

1.A, 2.C, 3.B, 4.C, 5.A, 6.B, 7.A, 8.D, 9.C, 10.D,