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DRDO Apprentice Simple & Compound Interest — practice questions — page 2

Explore 31 free Simple & Compound Interest questions in DRDO Apprentice Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Simple & Compound Interest questions and exercises with answers

Showing questions 31–31 of 31.

For the same principal, rate and a period of one year, compound interest compounded annually is:Read the answer and worked solution →

Worked practice questions

For the same principal, rate and a period of one year, compound interest compounded annually is:

  1. Always greater than simple interest
  2. Always less than simple interest
  3. Equal to simple interest
  4. Exactly double the simple interest
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Correct answer: C. Equal to simple interest

1. Compounding only bites when interest is charged on interest already added. 2. Over a single year no interest has yet been added to the principal. 3. So the base for the whole year is the original principal in both methods. 4. The two therefore give the same figure at the end of one year. 5. From the second year onward, compound interest pulls ahead because the base has grown. _Source: syllabus Maths, Ch 7 'Comparing Quantities', S7.4 Compound Interest_

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