Compound Interest

Compound Interest Worksheet-1

1. Albert invested an amount of Rs. 8000 in a 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

2. What will be the compound interest on a sum of Rs. 25,000 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

Compound Interest Worksheet-2

1. The difference between simple interest and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is :

(a) Rs. 2.50       (b) Rs. 3             (c) Rs. 3.75        (d) Rs. 4

(e) None of these

2. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is :

(a) 2                    (b)                 (c) 3                    (d) 4

Compound Interest Worksheet-3

1. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is :

(a) 625               (b) 630               (c) 640               (d) 650

2. The compound interest on a sum of money for 2 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 3 years will be :

(a) Rs. 48          (b) Rs. 66.56     (c) Rs. 98.56     (d) None of these