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### Question 1

What is the amount receivable on Rs. 3000000 after 9 months, invested at a rate of 24% compounded quarterly?

**A**

Rs. 3573048.

**B**

Rs. 3573148.

**C**

Rs. 3572948.

**D**

Rs. 3573248.

**Soln.**

**Ans: a**

In this case r = $24/4$% and n = 3 because compounding is quarterly, and in 9 months there are three quarters. So A = 3000000 × $(1 + 6/100)^3$, which equals 3 × 106 × 106 × 106, i.e., Rs. 3573048.

### Question 2

The interest earned by an amount of Rs. 40000 @5% compounded annually is Rs. 4100. What is the period in years?

### Question 3

The compound amount after 3 years on a principal of Rs. x is same as that on a principal of Rs. (621 - x) after 4 years, then what is x if the rate of interest is 7% p.a. compounded yearly?

### Question 4

What is the amount receivable on Rs. 2000000 after 9 months, invested at a rate of 28% compounded quarterly?

**A**

Rs. 2450086.

**B**

Rs. 2450186.

**C**

Rs. 2449986.

**D**

Rs. 2450286.

**Soln.**

**Ans: a**

In this case r = $28/4$% and n = 3 because compounding is quarterly, and in 9 months there are three quarters. So A = 2000000 × $(1 + 7/100)^3$, which equals 2 × 107 × 107 × 107, i.e., Rs. 2450086.

### Question 5

The amount of Rs. 3000000 earns an interest of Rs. 278181 @3% compounded annually. What is the investment period in years?

This Blog Post/Article "Compound Interest Quiz Set 003" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2017-04-07.