Compound Interest

Question 11

Find the compound interest on Rs. 15,000 for 9 months at 16% per annum compounded quarterly.

• 1872.96
• 1972.96
• 2072.96
• 2172.96

Question 12

An amount of 200000 is deposited in bank under a scheme which provides 10% rate 1st years, 20% rate 2nd year and 5% rate 3rd year. After 3rd year what amount will be returned?

• 277400
• 277220
• 277200
• 277320

Question 13

A sum of money is borrowed and paid back in two annual installments of Rs. 882 each allowing 5% compound interest. The sum borrowed was:

• 1540
• 1640
• 1580
• 1680

Question 14

The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

• 6
• 4
• 5
• 3

Question 15

The difference between compound interest and simple interest on an amount of Rs 15,000 for 2 years is Rs 96. What is the rate of interest per annum?

• 8
• 9
• 10
• None of these