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NIACL Administrative Officer Compound Interest — practice questions — page 2

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 31–32 of 32.

True or false: telling them apartRead the answer and worked solution →Three of these are wrong. Find the one that holds.Read the answer and worked solution →

Worked practice questions

True or false: telling them apart

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Questions
  1. Statement is true
    Yes
    Statement
    Equal yearly interest indicates simple interest.
  2. Statement is true
    Yes
    Statement
    Rising yearly interest indicates compounding.
  3. Statement is true
    No
    Statement
    Both give identical totals over any term.
  4. Statement is true
    Yes
    Statement
    Compound interest exceeds simple interest from year two.
  5. Statement is true
    Yes
    Statement
    The amount is principal plus interest in both cases.
One table of yearly figures gives it away. Source: syllabus Maths, Ch 7 Comparing Quantities.

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Three of these are wrong. Find the one that holds.

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Questions
  1. Question
    Three of these statements about the two interests are false.
    Choices
    1. Item
      They agree in the first year
      Correct
      Yes
    2. Explanation
      They diverge from year two.
      Item
      They agree in every year
    3. Explanation
      Compound overtakes simple, not the reverse.
      Item
      Simple interest overtakes compound
    4. Explanation
      Its base grows every year.
      Item
      Compound uses a fixed base
Each trap freezes or moves the wrong base. Source: syllabus Maths, Ch 7 Comparing Quantities.

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