Compound Interest Questions and Answers for Banks Exam and SSC

Compound interest questions and answers for competitive exams

21. Sam invested Rs. 15,000@10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be :

(A) Rs. 16,500

(B) Rs. 16,525.50

(C) Rs. 16,537.50

(D) Rs. 18,150

(E) none of these 

22. A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1^st January and 1^st July of a year. At the end of the year, the amount he would have gained by way of interest is

(A) Rs. 120

(B) Rs. 121

(C) Rs. 122

(D) Rs. 123

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

(A) 2

(B) 

(C) 3

(D) 4

24. In how many years will a sum of Rs. 800 at 10% per annum compounded semi-annually become Rs. 926.10?

(A) 

(B) 

(C) 

(D) 

25. The compound interest on a certain sum of money 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: 

(A) 400

(B) 500

(C) 600

(D) 800

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