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Free GRE Practice Test - Math - Compound Interest
Free GRE Practice Test - Math - Compound Interest
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Free GRE Practice Test - Math - Compound Interest
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The GRE Practice Test - Math - Compound Interest has been designed to test the important concepts related to compound interest. The test covers important topics like determining compound interest annually or half-yearly on certain amount, computing simple interest, etc.
1.
What will be the compound interest on Rs. 8000 at 6% per annum for 3 years, compounded annually?
a.
1080.19
b.
1088
c.
1528.13
d.
4686
2.
What will be the compound interest on Rs. 6400 at 4% per annum for 1 year, compounded annually?
a.
256
b.
385
c.
1056
d.
463
3.
What will be the compound interest on Rs. 7500 at 6% per annum for 2 years, compounded annually?
a.
120
b.
230
c.
927
d.
358
4.
What will be the compound interest on Rs. 2000 at 12% per annum for 1 year 4 months, compounded annually?
a.
329.6
b.
239.8
c.
227
d.
118
5.
What will be the compound interest on Rs. 6500 at 4% per annum for 1 year, the interest being compounded half-yearly?
a.
109.5
b.
102
c.
262.6
d.
108
6.
What will be the compound interest on Rs. 6000 at 8% per annum for 3 months, compounded quarterly?
a.
235
b.
350
c.
120
d.
665
7.
Find out the compound interest on the same sum for the same period at the same rate, if the simple interest on a sum of money at 5% p.a. for 2 years is Rs. 1000.
a.
4855
b.
1025
c.
1564
d.
1916
8.
Find out in what time, will Rs. 15625 become Rs. 21952 at 12% p.a. compounded annually.
a.
5
b.
6
c.
3
d.
1
9.
Find the sum, if the difference between the compound interest and simple interest on a certain sum at 20 % p.a. for 2 years is Rs. 500.
a.
65000
b.
51000
c.
84000
d.
12500
10.
Find out the principal that amounts to Rs. 2466 in 2 years at 50% p.a. compound interest compounded annually.
a.
1024
b.
1096
c.
32606
d.
55668
11.
Find out the effective annual rate of interest corresponding to a nominal rate of 2% p.a. payable half yearly.
a.
4.67%
b.
9.88%
c.
2.51%
d.
2.01%
12.
Find out the rate of interest per annum if a sum of money invested at compound interest, amounts to Rs. 500 in 2 years and to Rs. 520 in 3 years.
a.
5%
b.
1%
c.
4%
d.
6%
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