Compound Interest Questions
Compound interest calculates interest on both the original principal and previously accumulated interest. Practise finding amounts, rates, and time periods, with clear explanations and formulas for competitive exam preparation.
15 questions
- Calculate the compound interest on ₹2,500 at 20% per annum for 1 year 9 months, compounded annually.
- Find the rate of interest if ₹1,000 amounts to ₹1,210 in 2 years, compounded annually.
- A sum of ₹20,000 is borrowed at 10% compound interest, to be repaid in two equal annual installments. Find the approximate value of each installment.
- A loan of ₹12,400 is taken at 10% compound interest, payable in two equal annual installments. Find the approximate installment amount.
- A parent invested ₹3,00,000 in a UK education bond at 8% CI for 3 years. Afterward, due to devaluation, the return (in ₹) is converted and reinvested at 10% CI…
- Find the amount if ₹6,400 is invested at 5% compound interest for 3 years.
- A sum of money becomes 16 times in 2 years. What is the annual compound interest rate?
- Gaurav invested Rs. 'x' in a scheme offering 10% compound interest for three years. Prem invested Rs. 18,000 in a scheme offering 15% simple interest for four years. Find the…
- A sum of Rs. 7,500 is invested in a scheme offering r% compound interest for 2 years. Find the value of 'r' if the difference in the simple interest and…
- An amount of Rs. 'z' is invested in two different schemes—one offers simple interest at 13% p.a. for 4 years, and the other offers compound interest at 12% p.a. compounded…
- A savings scheme offers compound interest annually. A woman deposits ₹10,000. At the end of the first year, the interest rate is 10%. In the second year, due to inflation,…
- An amount doubles in 7 years under compound interest. How many years will it take for the amount to grow to 16 times its original value?
- A man deposits ₹1,50,000 at a CI rate of 10% p.a. After the first year's interest is credited, he withdraws 50% of the interest earned. What is his account balance…
- The compound interest on ₹8,000 for 1 year 6 months at 20% p.a., compounded half-yearly, is:
- An amount is said to double in 5 years with compound interest. How many years will it take for the amount to grow to 8 times its original value?