model 1 basic compound interest using formula Section-Wise Topic Notes With Detailed Explanation And Example Questions

Question : 1

An amount of Rs.6,000 lent at 5% per annum compound interest for 2 years will become

a) Rs.6,615

b) Rs.600

c) Rs.6,610

d) Rs.6,600

Question : 2

The compound interest on Rs.2000 in 2 years if the rate of interest is 4% per annum for the first year and 3% per annum for the second year, will be

a) Rs.143.40

b) Rs.142.40

c) Rs.141.40

d) Rs.140.40

Question : 3

The compound interest on Rs.10,000 in 2 years at 4% per annum, the interest being compounded half-yearly, is :

a) Rs.828. 82

b) Rs.636.80

c) Rs.912. 86

d) Rs.824.32

Question : 4

A principal of Rs.10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to :

a) Rs.11,320

b) Rs.12,000

c) Rs.12,500

d) Rs.12,320

Question : 5

In what time Rs.8,000 will amount to Rs.9,261 at 10% per annum compound interest, when the interest is compounded half yearly ?

a) 2 years

b) 3$1/2$ years

c) 2$1/2$ years

d) 1$1/2$ years

Question : 6

A sum of Rs.8000 will amount to Rs.8820 in 2 years if the interest is calculated every year. The rate of compound interest is

a) 5%

b) 6%

c) 3%

d) 7%