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Aptitude Compound Interest Test Paper 1


1) What is the compound interest on Rs. 2500 for 2 years at rate of interest 4% per annum?

  1. Rs. 180
  2. Rs. 204
  3. Rs. 210
  4. Rs. 220

The Correct answer is (B)

Explanation:

Principal (P) = Rs. 2500

Rate of interest(r) = 4%

Time (t) = 2 years

Compound Interest = Amount - Principal

Amount(A)=P 1 + r t
100
= 2500 1 + 4 2
100

= 2500 +Apti Compound interest26

C.I. = 2704 - 2500 = Rs. 204


2) What is the amount for a sum of money Rs.7500 at 6% rate of interest C.I. for 2 years?

  1. Rs. 8427
  2. Rs. 8417
  3. Rs. 8400
  4. Rs. 8390

The Correct answer is (A)

Explanation:

Principal = Rs. 7500

r = 6%

t = 2 years

Amount = P 1 + r 2
100
= 7500 1 + 6 2
100
Apti Compound interest29

3) On lending a certain sum of money on C.I. one gets Rs.9050 in 2 years and Rs.9500 in 3 years. What is the rate of interest?

  1. 5%
  2. 4.5%
  3. 5.5 %
  4. 6%

The Correct answer is (A)

Explanation:

Amount after 3 years = Rs. 9500

Amount after 2 years = Rs. 9050

Interest of one year= 9500 - 9050 = 450

t = 1 year

Apply formula: r =Apti Compound interest30

Apti Compound interest31

Solution 2: Quicker Method

Apply formula; Rate of interest(r):Apti Compound interest32

Y= Rs. 9500

X = 9050

Apti Compound interest33

Apti Compound interest34


4) Ramesh borrowed Rs. 3600 at a certain rate of interest C.I. and the sum grows to Rs. 4624 in 2 years. What is the rate of interest?

  1. 12.3%
  2. 13.3%
  3. 14.3%
  4. 15.3%

The Correct answer is (B)

Explanation:

Principal = Rs. 3600

Amount = Rs. 4624

t = 2 years

We have;

Apti Compound interest35


5) On a certain sum of money the compound interest Rs. 318 is earned in 2 years. If the rate of interest is 12%, what is the principal amount?

  1. Rs. 1250
  2. Rs.1300
  3. Rs. 1200
  4. Rs. 1150

The Correct answer is (A)

Explanation:

We have;

C.I. = Rs. 318

r = 12%

t = 2 years

Apti Compound interest36







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