Simple & Compound Interest- Quiz (Chapter-2) : 100 Key MCQs to Competitive Exam Success

Boost your competitive exam preparation with these concise Simple and Compound Interest questions, designed to sharpen your mathematical skills for various exams in India. Ace Indian competitive exams with these succinct Simple and Compound Interest practice questions, tailored to enhance your problem-solving abilities and exam readiness.

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Simple & Compound Interest-Free Mock Test-1

20 MCQs
20 Marks
40 Minutes

1 / 20

If a sum of money compounded annually becomes 1.44 times of itself in 2 years, then the rate of interest per annum is

2 / 20

If a principal amount of Rs. 8000 earns a compound interest of Rs. 1287.20 in 2 years, what is the rate of interest?

3 / 20

A sum of Rs.800 amounts to Rs.920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much?

4 / 20

The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

5 / 20

A sum of Rs. 5000 is invested at a compound interest rate of 8% per annum. If the interest is compounded annually, what will be the amount after 3 years?

6 / 20

The basic difference between Simple Interest and Compound interest is that in Simple Interest the ______ remains the same throughout the loan period while in Compound Interest it varies.

7 / 20

Borrowing Rs. 8000 at 6% simple interest for 4 years, what's the total repayment?

8 / 20

If Rs. 10,000 is invested at 9% per year compounded annually for 3 years, find the compound amount.

9 / 20

A sum of money becomes double in 3 years at compound interest compounded annually. At the same rate, in how many years will it become four times of itself ?

10 / 20

A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is?

11 / 20

If the principal amount is Rs. 10,000, the rate of interest is 6% per annum, and the interest is compounded semi-annually, what will be the amount after 2 years?

12 / 20

A man invested 1/3rd of the sum at 7%, 1/4th at 8% and the remaining at 10% for one year. If the annual interest is 408, then the investment

13 / 20

Calculate the compound interest on Rs. 9,000 in 2 years when the rate of interest for successive years are 10% and 12% respectively.

14 / 20

What is compound interest?

15 / 20

What is the sum for a total simple interest of Rs. 4016.25 at the rate of 9% p.a. in 5 years?

16 / 20

The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:

17 / 20

A sum of money becomes eight times in 3 years, if the rate is compounded annually. In how much time will the same amount at the same compound rate become sixteen times?

18 / 20

If an amount of Rs. 3000 is invested at an annual compound interest rate of 12%, how many years will it take for the amount to double?

19 / 20

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

20 / 20

The compound interest on a certain sum of money at 5% per annum for 2 years is Rs.246. The simple interest on the same sum for 3 years at 6% per annum is

Topics/Syllabus covered in this Chapter’s Mock Test Series

MCQs practice set on Simple & Compound Interest Calculations
Explanations/Solutions of difficult questions are also given. As soon as you select the wrong answer, the explanation will be shown below the question.
If you need explanation/solution of any other question, then click    below the question in left corner and submit your query.

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