CBSE Class 8 Mathematics Compound Interest MCQs

Compound Interest MCQ for Class 8 Mathematics

Question. Rekha invested a sum of 12000 at 5% per annum compound interest. She received an amount of 13230 after n years. Find n ?
a) 2.8 years
b) 3.0 years
c) 2.5 years
d) 2.0 years

Answer : D

Question. On a certain sum of money lent out at 16% p.a. the difference between the compound interest for 1 year, payable half yearly, and the simple interest for 1 year is 56. The sum is ?
a) 1080
b) 7805
c) 8750
d) 5780

Answer : C

Question. On what sum does the difference between the compound interest and the simple interest for 3 years at 10% is 31 ?
a) 1500
b) 1200
c) 1100
d) 1000

Answer : D

Question. If the difference between the compound interest and simple interest on a sum at 5% rate of interest per annum for three years is 36.60, then the sum is ?
a) 8000
b) 8400
c) 4400
d) 4800

Answer : D

Question. The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is ?
a) 30000
b) 30300
c) 3000
d) 3030

Answer : A

Question. The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525 . The simple interest on the same sum for double the time at half the rate per cent per annum is ?
a) Rs. 520
b) Rs. 550
c) Rs. 500
d) Rs. 515

Answer : C

Question. A sum of money is paid back in two annual instalments of Rs. 17, 640 each, allowing 5% compound interest compounded annually. The sum borrowed was ?
a) Rs. 32,800
b) Rs. 32,200
c) Rs. 32,000
d) Rs. 32,400

Answer : A

Question. What does 250 amounts to in 2 years with compound interest at the rate of 4% in the 1st year and 8% in the second year ?
a) 280
b) 280.80
c) 468
d) 290.80

Answer : B

Question. A sum becomes 2,916 in 2 years at 8% per annum compound interest. The simple interest at 9% per annum for 3 years on the same amount will be ?
a) 600
b) 675
c) 650
d) 625

Answer : B

Question. The amount of Rs. 10,000 after 2 years, compounded annually with the rate of interest being 10% per annum during the first year and 12% per annum during the second year, would be (in rupees) ?
a) 11,320
b) 12,000
c) 12,320
d) 12,500

Answer : C

Question. The difference between simple and compound interest on a certain sum of money for 2 years at 4 per cent per annum is 1. The sum of money is ?
a) 600
b) 625
c) 560
d) 650

Answer : B

Question. A sum of 6,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interests for 3 and 2 years will be ?
a) 75.00
b) 30.75
c) 330.75
d) 375.00

Answer : C

Question. The difference between compound interest and simple interest of a sum for 2 years at 8 per cent is 768. The sum is ?
a) 1,00,000
b) 1,10,000
c) 1,20,000
d) 1,70,000

Answer : C

Question. A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to four times itself ?
a) 12 years
b) 13 years
c) 8 years
d) 16 years

Answer : C

Question. An amount of money at compound interest grows up to 3,840 in 4 years and up to 3,936 in 5 years. Find the rate of interest ?
a) 2.5%
b) 2%
c) 3.5%
d) 2.05%

Answer : A

Question. A man borrowed some money and agreed to pay-off by paying Rs. 3150 at the end of the 1st year and Rs. 4410 at the end of the 2nd year. If the rate of compound interest is 5% per annum, then the sum is ?
a) Rs. 5000
b) Rs. 6500
c) Rs. 7000
d) Rs. 9200

Answer : C

Question. The difference between the simple and compound interest on a certain sum of money for 2 years at 4% per annum is 4. The sum is ?
a) 2500
b) 2,400
c) 2,600
d) 2,000

Answer : A

Question. The compound interest on Rs. 24000 at 10% per annum for 1 1 2 years, interest being compounded semi-annually is ?
a) Rs. 3783
b) Rs. 3777
c) Rs. 3780
d) Rs. 3781

Answer : A

Question. A sum of money at compound interest will amount to 650 at the end of the first year and 676 at the end of the second year. The amount of money is ?
a) 1,300
b) 650
c) 1,250
d) 625

Answer : D

Question. The difference between simple and compound interests on a sum of money at 4% per annum for 2 years is 8. The sum is ?
a) 400
b) 800
c) 4,000
d)5,000

Answer : D

Question. The sum for 2 years gives a compound interest of Rs. 3225 at the rate of 15% per annum. The sum is ?
a) Rs. 10000
b) Rs. 20000
c) Rs. 15000
d) Rs. 32250

Answer : A

Question. A sum of money amounts to Rs. 6655 at the rate of 10% compounded annually for 3 years. The sum of money is ?
a) Rs. 5000
b) Rs. 5500
c) Rs. 6000
d) Rs. 6100

Answer : A

Question. There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest (in rupees) of Rs 30000 after 2 years at the same rate ?
a) 6150
b) 7687.5
c) 4612.5
d) 3075

Answer : D

Question. The difference between compound and simple interest on a certain sum for 3 years at 5% per annum is Rs. 122. The sum is ?
a) 16,000
b) 15,000
c) 12,000
d) 10,000

Answer : A

Question. The difference between the compound interest and simple interest for the amount 5,000 in 2 years is 32. The rate of interest is ?
a) 5%
b) 8%
c) 10%
d) 12%

Answer : B

Question. A sum of money invested at compound interest amounts in 3 years to 2,400 and in 4 years to 2,520. The interest rate per annum is ?
a) 5%
b) 6%
c) 10%
d) 12%

Answer : A

Question. A builder borrows 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly instalments. How much will each instalment be ?
a) 1352
b) 1377
c) 1275
d) 1283

Answer : A

Question. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, the compound interest on the same at the same rate and for the same time is ?
a) Rs. 50.50
b) Rs. 51.25
c) Rs. 51.50
d) Rs. 50.05

Answer : B

Question. If the difference between the simple and compound interests on a sum of money for 2 years at 4% per annum is 80, the sum is ?
a) 5000
b) 50000
c) 10000
d) 1000

Answer : B

Question. On what sum of money will the difference between simple interest and compound interest for 2 years at 5% per annum be equal to Rs. 63 ?
a) Rs. 24,600
b) Rs. 24,800
c) Rs. 25,200
d) Rs. 25,500

Answer : C

Question. A sum of money amounts to 4,840 in 2 years and to 5,324 in 3 years at compound interest compounded annually. The rate of interest per annum is ?
a) 10%
b) 9%
c) 11%
d) 8%

Answer : D

Question. Find the rate percent per annum, if Rs. 2000 amounts to Rs. 2,315.25 in a year and a half, interest being compounded half yearly ?
a) 11.5%
b) 10%
c) 5%
d) 20%

Answer : B

Question. A sum of Rs. 3000 amounts to Rs. 6000 in two years at compound interest. The interest for four years is ?
a) Rs. 9000
b) Rs. 12000
c) Rs. 6000
d) Rs. 3000

Answer : A

Question. On what sum of money will the difference between S.I and C.I for 2 years at 5% per annum be equal to 25 ?
a) 10,000
b) 10,500
c) 9,500
d) 9000

Answer : A

Question. If the compound interest on a sum of money for 3 years at the rate of 5% per annum is 252.20, the simple interest on the same sum at the same rate and for the same time is ?
a) 220
b) 240
c) 245
d) 250

Answer : B

Question. A loan of 12,300 at 5% per annum compound interest, is to be repaid in two equal annual instalments at the end of every year. Find the amount of each instalment ?
a) 6,651
b) 6,615
c) 6,516
d) 6,156

Answer : B

Question. A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees) ?
a) 1600
b) 1800
c) 2000
d) 2100

Answer : C

Question. A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself ?
a) 9 years
b) 27 years
c) 6 years
d) 3 years

Answer : C

Question. The compound interest on Rs. 30,000 at 7% per annum for n years is Rs. 4347. The value of n is ?
a) 3
b)2
c) 4
d) 5

Answer : B

Question. A sum of Rs. 2420 is accumulated in 2 years at 10% compound interest on a certain amount. Then the original amount is ?
a) Rs. 1000
b) Rs. 2000
c) Rs. 1500
d) Rs. 2500

Answer : B

Question. At what rate per annum will 32000 yield a compound interest of 5044 in 9 months interest being compounded quarterly ?
a) 20%
b) 32%
c) 50%
d) 80%

Answer : A

Question. The least number of years in which a sum of money on 19% p.a. compound interest will be more than double is ?
a) 3 years
b) 4 years
c) 5 years
d) 2 years

Answer : B

Question. The difference between simple and compound interest (compounded annually) on a sum of money for 2 years at 10% per annum is 65. The sum is ?
a) 65650
b) 65065
c) 6565
d) 6500

Answer : D

Question. The income of a company increases 20% per year. If the income is Rs. 26,64,000 in the year 2012, then its income in the year 2010 was ?
a) Rs. 28,55,000
b)Rs. 18,50,000
c) Rs. 28,20,000
d) Rs. 21,20,000

Answer : B

Question. On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is 180. If the rate of interest in both the cases is 10%, then the sum is ?
a) 60,000
b) 72,000
c) 62,000
d) 54,000

Answer : B

Question. A sum borrowed under compound interest doubles itself in 10 years. When will it become fourfold of itself at the same rate of interest ?
a) 15 years
b) 20 years
c) 24 years
d) 40 years

Answer : B

Question. A sum of money on compound interest amounts to 10648 in 3 years and 9680 in 2 years. The rate of interest per annum is ?
a) 5%
b) 10%
c) 15%
d) 20%

Answer : B

Question. If the difference between the compound interest and the simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is ?
a) Rs. 2000
b) Rs. 4000
c) Rs. 6000
d) Rs. 8000

Answer : D

Question. A sum of 12,000, deposited at compound interest becomes double after 5 years. How much will it be after 20 years ?
a) 1,44,000
b) 1,20,000
c) 1,50,000
d) 1,92,000

Answer : D

Question. The amount on Rs. 25,000 in 2 years at annual compound interest, if the rates for the successive years be 4% and 5% per annum respectively is ?
a) Rs. 30,000
b) Rs. 26,800
c) Rs. 27,300
d) Rs. 28,500

Answer : C

Question. A certain sum, invested at 4% per annum compound interest, compounded half early, amounts to 7,803 at the end of one year. The sum is ?
a) 7,000
b) 7,200
c) 7,500
d) 7,700

Answer : C

Question. The compound interest on Rs. 4000 for 4 years at 10% per annum will be ?
a) Rs. 1856.40
b) Rs. 1600
c) Rs. 1856
d) Rs. 1756.60

Answer : A

Question. The difference between C I and S I for 2 years at 10% rate of interest is Rs. 4. Find the sum of money ?
a) Rs. 400
b) Rs. 200
c) Rs. 300
d) Rs. 800

Answer : A

Question. A sum of money placed at compound interest doubles itself in 5 years. It will amount to eight times of itself at the same rate of interest in ?
a) 20 years
b) 10 years
c) 12 years
d) 15 years

Answer : D