Study Material for SSC CGL, CHSL, MTS, Prasar Bharti, FCI Exams : Compound Interest - MCQ

Compound Interest (MCQ)

1. The difference between compound interest and simple interest on an amount of Rs.15,000 for 2 years is  Rs.96. What is the rate of interest per annum?
(a) 8
(b) 11
(c) 12
(d) None of these

2. The difference between simple and compound interests and compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
(a) 625
(b) 620
(c) 640
(d) 660

3. The compound interest on a sum of money for 2 years is Rs.832 and the simple interest on the same sum for the same period  is Rs.800. The difference between the compound interest and the simple interest for 3 years will be:
(a) Rs.50
(b) Rs.67
(c) Rs.98.56
(d) Rs.75.45

4. The difference between the simple interest on a certain sum at the rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs.124.05. What is the principal sum?
(a) Rs.9000
(b) Rs.8000
(c) Rs.10,000
(d) Rs.13,000