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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)

31. What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years, compounding done annually?
### Answer & Explanation

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### Answer & Explanation

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Answer: Option E

Explanation:

A= P{1 + R/100}^{n}

=> 8000{1 + 10/100}^{2 } = Rs.9680

Answer: Option E

32. The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.
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Answer: Option B

Explanation:

Let the sum be Rs.P

P{ [ 1 + 8/100]^{2} - 1 } = 2828.80

P(8/100)(2 + 8/100) = 2828.80 [a^{2} - b^{2} = (a - b) ( a + b)]
P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000
Principal + Interest = Rs. 19828.80

33. Find the compound interest accrued on an amount of Rs.14,800 at 13.5% p.a at the end of two years. (Round off your answer to nearest integer)
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Answer: Option D

Explanation:

CI = 14800{ [ 1 + 13.5/100]^{2} - 1 }

= 14800 { [1 + 27/200]^{2} - 1

= 14800 { 2 + 27/200}{27/200}

= (74)[2 + 27/200](27)
=

1998[2 + 27/200] = 3996 + 269.73 = Rs. 4266

34. Raj invested an amount of Rs.17400 for two years. Find the rate of compound interest that will fetch him an amount of Rs.1783.50 at the end of two years?
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Answer: Option D

Explanation:

Let the rate of interest be R% p.a.

17400[1 + R/100]^{2} = 17400 + 1783.50

[1 + R/100]^{2} = (17400 + 1783.50)/17400

= 1 + 1025/10000 = 1 + 41/400

= 441/400 = [21/20]^{2}

[1 + R/100] = 21/20

R/100 = 1/20

Therefore R = 5

35. Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest?
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Answer: Option C

Explanation:

Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 * 240) / (100 * 1) = 20% p.a