Compound Interest SSC MTS Questions

Compound Interest

Compound Interest MCQ Questions

13.

Find the amount if ₹10,200 is invested at the rate of 8% per annum compound interest for \(1\tfrac{1}{2}\) years when interest is compounded half-yearly (up to two decimal places).
SSC MTS 2023-08.09.2023-2

A.

₹11,743.61

B.

₹11,473.61

C.

₹11,764.28

D.

₹11,347.28

ANSWER :

B. ₹11,473.61

14.

The income of a company increases by 25% per annum. If its income is ₹26,64,000 in the year 1999, what was its income in the year 1997?
SSC MTS 2023-08.09.2023-2

A.

₹16,50,000

B.

₹17,04,960

C.

₹15,50,000

D.

₹17,50,000

ANSWER :

B. ₹17,04,960

15.

What will be the compound interest on ₹30,000 at 10% per annum for \(1\tfrac{1}{2}\) years, when interest is compounded half-yearly?
SSC MTS 2023-08.09.2023-3

A.

₹4,728.75

B.

₹4,800.75

C.

₹5,728.75

D.

₹4,928.75

ANSWER :

A. ₹4,728.75

16.

What is the compound interest on ₹24,000 for 2 years at the rate of 10% per annum, if interest is compounded annually?
SSC MTS 2022-05.07.2022-1

A.

₹5,280

B.

₹4,820

C.

₹6,080

D.

₹5,040

ANSWER :

D. ₹5,040

17.

For a sum of ₹5,000, what is the difference between the compound interest and simple interest for 2 years if the rate of interest is 5% per annum, and in the case of compound interest, the interest is compounded annually?
SSC MTS 2022-05.07.2022-2

A.

₹10.5

B.

₹12.5

C.

₹25

D.

₹7.5

ANSWER :

B. ₹12.5

18.
A sum of money becomes two times of itself in 8 years at simple interest, and it becomes four times of itself in 2 years at compound interest, when interest is compounded annually. Find the ratio of the rate of simple interest to the rate of compound interest offered per year.
SSC MTS 2022-05.07.2022-3
A.
2 : 3
B.
3 : 5
C.
5 : 3
D.
1 : 8
ANSWER :
D. 1 : 8