Compound Interest

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Compound Interest

There are 10 MCQs based on PYQs of CUET, CLAT and IPMAT

Question 1: A sum of money is invested at a compound interest rate of 10% per annum. If the amount becomes ₹4840 after 2 years, what was the principal amount?

1 point

(a) ₹4000

(b) ₹4200

(d) ₹4600

Clear selection

Question 2: The compound interest on a certain amount of money for 2 years at 10% per annum is ₹525. What is the principal amount?

1 point

(a) ₹2250

(b) ₹2375

(d) ₹2550

Clear selection

Question 3: If the compound interest on a certain sum for 3 years at 5% per annum is ₹157.62, find the principal.

1 point

(a) ₹1000

(b) ₹1020

(d) ₹1150

Clear selection

Question 4: A sum becomes ₹9800 after 2 years and ₹10780 after 3 years when compounded annually. What is the rate of interest?

1 point

(a) 5%

(b) 8%

(d) 12%

Clear selection

Question 5: A man invests ₹5000 at a compound interest rate of 12% per annum. Calculate the amount he will get after 3 years.

1 point

(a) ₹6250.70

(b) ₹7016.64

(d) ₹7500

Clear selection

Question 6: A sum of ₹15000 becomes ₹18315 in 2 years at compound interest. What is the rate of interest per annum?

1 point

(a) 8%

(b) 9%

(d) 11%

Clear selection

Question 7: Find the compound interest on ₹12000 for 2 years at 8% per annum, compounded semi-annually.

1 point

(a) ₹2048.32

(b) ₹2014.20

(d) ₹1986.50

Clear selection

Question 8: The compound interest on a sum of ₹5000 for 3 years is ₹798.50. Find the rate of interest if it is compounded annually.

1 point

(a) 4.5%

(b) 5%

(d) 5.5%

Clear selection

Question 9: What will be the compound interest on ₹2000 after 1.5 years at the rate of 8% per annum, compounded half-yearly?

1 point

(a) ₹246.24

(b) ₹252.48

(d) ₹275.36

Clear selection

Question 10: A sum of money invested at compound interest grows to ₹16,200 in 2 years and to ₹19,440 in 3 years. Find the rate of interest.

1 point

(a) 18%

(b) 15%

(d) 10%

Clear selection

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