# Worksheet on Compound Interest

In worksheet on compound interest we will solve different types of questions where compound interest is calculated annually, where compound interest is calculated half-yearly and where compound interest is calculated quarterly by using formulas.

### A. Questions on compound interest without using formulas

1. Find the amount and the compound interest on $2500 for 2 years at 10% per annum, compounded annually. 2. Find the amount and the compound interest on$ 16000 for 3 years at 5% per annum, compounded annually.

3. Find the difference between the simple interest and the compound interest on $5000 for 2 years at 6% per annum. 4. Roby obtained a loan of$ 25000 from the Syndicate Bank to renovate her house. If the rate of interest is 8% per annum, what amount will she have to pay to the bank after 2 years to discharge her debt?

5. Henna borrowed $20000 from her friend Nancy at 12% per annum simple Interest. She lent it to Andy at the same rate but compounded annually. Find her gain after 2 years. 6. Mike deposited a sum of$ 64000 in a post office for 3 years, compounded annually at 7¹/₂ % per annum. What amount will he get on maturity?

7. David deposited a sum of $6250 in the ICICI Bank for 1 year, compounded half-yearly at 8% per annum. Find the compound interest he gets. 8. Mike borrowed$ 16000 from a finance company at 10% per annum, compounded half-yearly. What amount of money will discharge his debt after 1¹/₂ years?

### Find the amount and the compound interest by using the formula in each of the following.

1. Principal = $6000, rate = 5% p.a. and time = 2 years. 2. Principal =$ 10000, rate = 11% p.a. and time = 2 years .

3. Principal = $4800, rate = 7¹/₂ % p.a. and time = 2 years. 4. Principal =$ 31250, rate = 8% p.a. and time = 3 years.

5. Principal = $6750, rate = 6²/₃ % p.a. and time = 3 years. 6. Principal =$ 62500, rate = 12 % p.a. and time = 2¹/₂ years.

7. Principal = $15000, rate = 10% p.a. and time = 2¹/₅ years. 8. Principal =$ 8000, time = 2 years and the rates being 9% per annum during the first year and 10% per annum during the second year.

9. Andy obtained a loan of $125000 from the Allahabad Bank for buying computers. The bank charges compound interest at 8% per annum, compounded annually. What amount will he have to pay after 3 years to clear the debt? 10. Three years ago, Brandon purchased a buffalo from Sam for$ 11000. What payment will discharge his debt now, the rate of interest being 10% per annum, compounded annually?

11. Shelly took a loan of $18000 from S.R Finance to purchase a TV set. If the company charges compound interest at 12% per annum during the first year and 12¹/₂% per annum during the second year, how much will she have to pay after 2 years? 12. Nancy borrowed$ 24000 from the State Bank to buy a scooter. If the rate of interest be 10% per annum compounded annually, what payment will she have to make after 2 years 3 months? Hint. 2 years 3 months = 2¹/₄ years.

13. Abby borrowed $16000 at 7¹/₂ % per annum simple interest. On the same day, he lent it to Gary at the same rate but compounded annually. What does he gain at the end of 2 years? 14. The simple interest on a sum of money for 2 years at 6% per annum is$ 900. What will be the compound interest on that sum at the same rate and for the same period?

15. The difference between the compound interest and the simple interest on a certain sum for 2 years at 5% per annum is $40. Find the sum. 16. The difference between the compound interest and the simple interest on a certain sum for 3 years at 10% per annum is$ 93. Find the sum.

17. A sum of money amounts to $10240 in 2 years at 6²/₃ % per annum, compounded, annually. Find the sum. 18. What sum of money will amount to$ 21296 in 3 years at 10% per annum, compounded annually?

19. At what rate per cent per annum will $4000 amount to$ 4410 in 2 years when compounded annually?

20. At what rate per cent per annum will $640 amount to$ 774.40 in 2 years when compounded annually?

21. In how many years will $1800 amount to$ 2178 at 10% per annum when compounded annually?

22. In how many years will $1600 amount to$ 1852.20 at 5% per annum when compounded annually?

### Questions on compound interest by using the formula of interest compounded half-yearly and interest compounded quarterly.

1. Find the amount and the compound interest on $8000 for 1 year at 10% per annum, compounded half-yearly. 2. Find the amount and the compound interest on$ 31250 for 1¹/₂ years at 8% per annum, compounded half-yearly.

3. Find the amount and the compound interest on $12800 for 1 year at 7¹/₂ % per annum, compounded semi-annually. 4. Find the amount and the compound interest on$ 160000 for 2 years at 10% per annum, compounded half-yearly.

5. Sandy borrowed $40960 from a bank to buy a piece of land. If the bank charges 12¹/₂ % per annum, compounded half-yearly, what amount will she have to pay after 1¹/₂ years? Also find the interest paid by her. 6. Mike purchased a house from a lender on credit. If the cost of the house is$ 125000 and the lender charges interest at 12% per annum compounded half-yearly, find the interest paid by Aslam after a year and a half.

7. Shelly deposited $20000 in a bank where the interest is credited half-yearly. If the rate of interest paid by the bank is 6% per annum, what amount will she get after 1 year? 8. Nik lent$ 65536 for 2 years at 12¹/₂ % per annum, compounded annually. How much more could he earn if the interest were compounded half-yearly?

9. Sam deposited $32000 in a bank, where the interest is credited quarterly. If the rate of interest be 5% per annum, what amount will he receive after 6 months? 10. Andy took a loan of$ 390625 from Kathy Finance. If the company charges interest at 16% per annum, compounded quarterly, what amount will discharge his debt after one year?

A.
1. Amount = Rs 3025, CI = Rs 525    2. Amount = Rs 18522, CI = Rs 2522

3. Rs 18           4. Rs 29160          5. Rs 288          6. Ps 79507

7. Rs 510          8.Rs 18522

B.
1. Amount = Rs 6615, CI = Rs 615        2. Amount = Ps 12321, CI = Rs 2321

3. Amount = Rs 5547, CI = Rs 747       4. Amount = Rs 39366, CI = Rs 8116

5. Amount = Rs 8192, CI = Rs 1442     6. Amount = Rs 83 104, CI =Rs 20604

7. Amount =Rs18513, CI = Rs 3513     8. Amount = Rs 9592, CI = Rs 1592

9. Rs 157464          10. Rs 14641          11. Rs22680.           12. Rs29766

13. Rs90           14. Rs 927          15. Rs 16000          16. Rs 3000

17. Rs 9000          18. Rs 16000          19. 5% p.a.           20. 10% p.a.

21.2 years          22. 3 years

C.
1. Amount = Rs 8820, CI = Rs 820     2. Amount = Rs 35 152. CI = Rs 3902

3. Amount = Rs 14792, CI = Rs 1992     4. Amount = Rs 194481, CI = Rs 34481

5. Amount = Rs 49130, CI = Rs 8170     6. Rs 23877 7. Rs 21218

8. Rs 577          9. Rs 32805          10. Rs 45697

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