model 1 basic compound interest using formula Practice Questions Answers Test with Solutions & More Shortcuts

Question : 16 [SSC CPO S.I.2008]

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 : 17 [SSC Sub-Inspector 2012]

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 : 18 [SSC CGL Tier-I 2012]

The sum of money that yields a compound interest of Rs.420 during the second year at 5% p.a is

a) Rs.21,000

b) Rs.4,000

c) Rs.8,000

d) Rs.42,000

Question : 19 [SSC Investigator 2010]

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 : 20 [SSC CGL Prelim 2007]

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