Compound Interest Aptitude Questions and Answers Quantitative Aptitude Problems on Compound Interest
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Definition: Compound interest is defined as interest that added to the principal of a deposit or loan, so that the added interest also earns interest. This addition of interest's principal is called compounding.
Quantitative Aptitude Questions on Compound Interest:
Q1: A man lent out a certain sum on simple interest and same sum on the compound interest at a certain rate of interest per annum. He noticed that the ratio between the difference of compound interest and simple interest of three years and that of two years is 25 : 8. The rate of interest per annum is?
(b) 12 1/2%
Q2: The difference between compound interest and simple interest on a sum for two years at 10% per annum. When the interest is compounded annually is Rs.16. If the interest were compounded half-yearly, the difference in two interests?
Q3: The difference between compound interest and simple interest on an amount of Rs.15000 for two years is Rs.96. What is the rate of interest per year?
Q4: The compound interest on a sum of money for two 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 three years?
Q5: The difference between simple and compound interests and the compounded annually on a certain sum of money for two years at 4% per annum is Rs.1. The sum is?
Q6: Mr. Prabu invested money in two schemes P and Q offering compound interest at 8 p.c.p.a. and 9 p.c.p.a. respectively. If the total amount of interest accrued through two policies together in two years invested was Rs.27000. What was the amount invested in policy P?
Q7: The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is?
Q8: A sum of money lent at compound interest for two years at 20% per annum would fetch Rs.482 more, if the interest was payable half yearly then if it was payable annually. The sum is?
Q9: The difference between the simple interest on a certain sum at the rate of 10% per annum for two years and compound interest which is compounded every six months is Rs.124.05. What is the principal sum?
Q10: On a sum of money, the simple interest for two years is Rs.660, while the compound interest is Rs.696.30. The rate of interest being the same in both the cases. The rate of interest is?
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