Compound Interest Questions and Answers for Banks Exam and SSC

Compound interest questions and answers for competitive exams

6. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

(A) 6.06%

(B) 6.07%

(C) 6.08%

(D) 6.09%

7. A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs.840 in 4 years. The rate of interest per annum is: 

(A) 

(B) 4%

(C) 5%

(D) 

8. What annual payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest?

(A) Rs. 550

(B) Rs. 551.25

(C) Rs. 560

(D) Rs. 560.75

9. Albert invested an amount of Rs 8000 in fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

(A) Rs. 8600

(B) Rs. 8620

(C) Rs. 8800

(D) Rs. 8840

(E) none of these 

10. What will be the compound interest on a sum of Rs.25000 after 3 years at the rate of 12 p.c.p.a?

(A) Rs. 9000.30

(B) Rs. 9720

(C) Rs. 10123.20

(D) Rs. 10483.20

(E) none of these 

If you face any problems in compound interest questions and answers, feel free and ask me in the comment section. Visit on the next page for more practice