Home » Compound Interest – Questions and Answers – Quiz 2

Compound Interest – Questions and Answers – Quiz 2

1. 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.?

Rs. 9000.30
Rs. 9720
Rs. 10123.20
10483.20

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

6%
6.5%
7%
7.5%

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:

3
4
5
6

4. 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?

Rs. 8600
Rs. 8620
Rs. 8820
None of these

5. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

6.06%
6.07%
6.08%
6.09%

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Correct answers:

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