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## Compound Interest Online Test - Compound Interest Quiz Details

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### Compound Interest Aptitude Questions

Compound Interest is the difference between the original principal and final amount. Compound Interest is similar to the Simple Interest shortcut tricks. As we know that same for some time but some cases it's different from Simple Interest. In some cases, of the Compound Interest, the interest varies according to time. So candidates before going to appear for Compound Interest Quiz should know the topics which are covered in the particular concept.
### Compound Interest Formulae

Compound Interest basic terms
A = Amount

P = Principal

R = Rate of Interest

N = Number of Years

1. Interest Compounded Yearly

Amount (A) = Principal (P) X ( 1 + Rate of Interest (R) / 100 )Number of Years (N)

2. Interest Compounded Half-Yearly

Amount (A) = Principal (P) X [ 1 + Rate of Interest (R) / 2 / 100 ]2 X Number of Years (N)

(or) Principal (P) = [ 1 + Rate of Interest (R) / 200 ] 2 X Number of Years (N)

3. Interest Compounded Quarterly

Amount (A) = Principal (P) X [ 1 + Rate of Interest (R) / 4 / 100 ]

(or) Principal (P) [ 1 + Rate of Interest (R) / 400 ] 4 X Number of Years (N)

### Compound Interest MCQ Quiz Answers

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Online Test Name |
Compound Interest |

Exam Type |
Multiple Choice Questions |

Category |
Aptitude Quiz |

Number of Questions |
101 |

Intenders should note that correctly calculating the compound interest problems can help you build a professional career. Compound Interest Quiz Questions are pretty common in various professional exams, including SSC, IBPS, SBI, RRB, etc. To make things easier for applicants, allindiaexams.in team members has launched a wide range of compound interest multiple choice questions and answers. Every aspirant before going to participate in any competitive exams must refer our site allindiaexams.in. Because no one can find such a huge amount of practice sessions in any other sites.

P = Principal

R = Rate of Interest

N = Number of Years

1. Interest Compounded Yearly

Amount (A) = Principal (P) X ( 1 + Rate of Interest (R) / 100 )Number of Years (N)

2. Interest Compounded Half-Yearly

Amount (A) = Principal (P) X [ 1 + Rate of Interest (R) / 2 / 100 ]2 X Number of Years (N)

(or) Principal (P) = [ 1 + Rate of Interest (R) / 200 ] 2 X Number of Years (N)

3. Interest Compounded Quarterly

Amount (A) = Principal (P) X [ 1 + Rate of Interest (R) / 4 / 100 ]

(or) Principal (P) [ 1 + Rate of Interest (R) / 400 ] 4 X Number of Years (N)

1. Find the compound interest and the amount on Rs.8000 at 5% per annum for 3 years when C.I is reckoned yearly?
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2. If Rs.7500 are borrowed at C.I at the rate of 4% per annum, then after 2 years the amount to be paid is?
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3. Find out the C.I on Rs.5000 at 4% p.a. compound half-yearly for 1 1/2 years.
### Answer & Explanation

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Answer: Option C

Explanation:

A = 5000(51/50)^{3}

= 5306.04

5000

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306.04

4. Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time?
### Answer & Explanation

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Answer: Option D

Explanation:

9261 = 8000(21/20)^{N}

(21/20)^{3} = (21/20)^{N} =>
N = 3

5. At the end of three years what will be the compound interest at the rate of 10% p.a. on an amount of Rs.20000?
### Answer & Explanation

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Answer: Option A

Explanation:

A = 20000(11/10)^{3}

= 26620

= 20000

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6620