Compound Interest SSC MTS Questions

Compound Interest

Compound Interest MCQ Questions

7.

Find the amount of ₹75,000 for one year at the rate of 16% per annum, if the interest is compounded quarterly. (rounded off to two decimal places)
SSC MTS 2023-05.09.2023-2

A.

₹87,379.40

B.

₹89,773.40

C.

₹87,937.40

D.

₹87,739.40

ANSWER :

D. ₹87,739.40

8.

In how many years will a sum of ₹18,000 at 20% per annum compounded half-yearly become ₹23,958?
SSC MTS 2023-05.09.2023-3

A.

\(1\tfrac{1}{2}\)

B.

\(3\tfrac{1}{2}\)

C.

\(1\tfrac{1}{4}\)

D.

\(2\tfrac{1}{2}\)

ANSWER :

A. \(1\tfrac{1}{2}\)

9.

What is the difference between the compound interest, interest compounded half-yearly on ₹72,000 for 1.5 years at 10% per annum and its simple interest for 3 years at 5% per annum?
SSC MTS 2023-06.09.2023-1

A.

₹559

B.

₹549

C.

₹540

D.

₹449

ANSWER :

B. ₹549

10.

At what rate per annum will a sum of ₹6,400 fetch a compound interest (compounded annually) of ₹1,344 in 2 years?
SSC MTS 2023-06.09.2023-2

A.

10%

B.

8%

C.

12%

D.

5%

ANSWER :

A. 10%

11.

What sum of money invested at 8% per annum in \(1\tfrac{1}{2}\) years, compounded half-yearly, shall become ₹17,576?
SSC MTS 2023-06.09.2023-3

A.

₹16,500

B.

₹15,000

C.

₹15,525

D.

₹15,625

ANSWER :

D. ₹15,625

12.

If A deposited ₹62,500 at the rate of 8% per annum compounded half-yearly, then what is the compound interest at the end of the two years?
SSC MTS 2023-08.09.2023-1

A.

₹18,161.12

B.

₹12,171.72

C.

₹10,821.18

D.

₹10,616.16

ANSWER :

D. ₹10,616.16