# Simple and Compound Interest

Simple and Compound Interest: Difference between simple and compound interest, Simple Interest Formula and Compound Interest Formula, Simple Interest Questions

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## Online Aptitude Questions with Answers on Simple and Compound Interest

Q21. **The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:**

1.  625
2.  630
3.  640
4.  650

Solution : 625
Q22. **There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?**

1.  Rs. 2160
2.  Rs. 3120
3.  Rs. 3972
4.  Rs. 6240
5.  None of these

Solution : Rs. 3972
Q23. **What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?**

1.  Rs. 2.04
2.  Rs. 3.06
3.  Rs. 4.80
4.  Rs. 8.30

Solution : Rs. 2.04
Q24. **The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:**

1.  2
2.  5/2
3.  3
4.  4

Solution : 2

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Q25. **What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?**

1.  Rs. 9000.30
2.  Rs. 9720
3.  Rs. 10123.20
4.  Rs. 10483.20
5.  none of these

Solution : Rs. 10123.20
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