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NIACL Administrative Officer Compound Interest — practice questions

Explore 32 free Compound Interest questions in NIACL Administrative Officer Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.

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Compound Interest questions and exercises with answers

Showing questions 1–30 of 32.

The compound interest on ₹5,000 at 10% p.a. for 2 years compounded annually is:Read the answer and worked solution →Find the difference between CI and SI on ₹10,000 at 10% p.a. for 2 years.Read the answer and worked solution →A sum amounts to ₹6,050 at 10% p.a. compound interest in 2 years. Find the principal.Read the answer and worked solution →At what rate compounded annually does ₹4,000 amount to ₹4,840 in 2 years?Read the answer and worked solution →The compound interest on ₹16,000 for 3 years at 5% p.a. compounded annually is:Read the answer and worked solution →If CI for 1st year is ₹500 and for 2nd year is ₹525 on a certain sum at the same rate, find the rate.Read the answer and worked solution →If the simple interest on a sum at 6% p.a. for 3 years is ₹540, what is the compound interest at the same rate for the same period?Read the answer and worked solution →If a sum at compound interest doubles in 6 years, in how many years will it become 8 times itself?Read the answer and worked solution →Double the money to eight timesRead the answer and worked solution →Complete the idea of compound interestRead the answer and worked solution →Simple or compound?Read the answer and worked solution →True or false: compound interestRead the answer and worked solution →Order the steps: two years of compound interestRead the answer and worked solution →Assertion and reason: compoundingRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →Three of these are wrong. Find the one that holds.Read the answer and worked solution →Comparing the twoRead the answer and worked solution →Tap every statement true of compound interestRead the answer and worked solution →Flip and pair: which interest does this?Read the answer and worked solution →Order the steps: three years of compoundingRead the answer and worked solution →True or false: how compounding buildsRead the answer and worked solution →Compounding in practiceRead the answer and worked solution →Which base is being used?Read the answer and worked solution →Assertion and reason: compoundingRead the answer and worked solution →Complete the comparisonRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →Tap every sign that compounding is at workRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →Flip and pair: signal with the interest typeRead the answer and worked solution →Which is better for whom?Read the answer and worked solution →

Worked practice questions

The compound interest on ₹5,000 at 10% p.a. for 2 years compounded annually is:

  1. ₹1,000
  2. ₹1,050
  3. ₹1,100
  4. ₹1,200
Show answer and solution

Correct answer: B. ₹1,050

1. A = P(1 + R/100)ⁿ = 5000 × 1.10² = 5000 × 1.21 = ₹6,050. 2. CI = A − P = 6050 − 5000. 3. = ₹1,050. _Source: jkchrome SI-CI QB, p.2 — basic CI formula_

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Find the difference between CI and SI on ₹10,000 at 10% p.a. for 2 years.

  1. ₹50
  2. ₹100
  3. ₹150
  4. ₹200
Show answer and solution

Correct answer: B. ₹100

1. SI = 10000 × 10 × 2 / 100 = ₹2,000. 2. CI = 10000 × (1.21 − 1) = ₹2,100. 3. Difference = ₹100. Shortcut: P × (R/100)² = 10000 × 0.01 = 100. _Source: jkchrome SI-CI QB, p.2 — CI–SI difference 2-year_

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A sum amounts to ₹6,050 at 10% p.a. compound interest in 2 years. Find the principal.

  1. ₹5,000
  2. ₹5,500
  3. ₹4,500
  4. ₹6,000
Show answer and solution

Correct answer: A. ₹5,000

1. A = P(1.10)² = 1.21 P. 2. 1.21 P = 6050. 3. P = 6050 / 1.21 = ₹5,000. _Source: jkchrome SI-CI QB, p.2 — back-calculate principal_

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