Compound Interest Practice Question and Answer

Q:

The interest compounded annually on a sum of Rs. 56000 at a rate of 7% p.a. after 3 years is what percentage of the simple interest on a sum of Rs. 72000 at a rate of 9% p.a. after 5 years?

285 0

  • 1
    32.22%
    Correct
    Wrong
  • 2
    34.44%
    Correct
    Wrong
  • 3
    35.55%
    Correct
    Wrong
  • 4
    37.77%
    Correct
    Wrong
  • 5
    38.88%
    Correct
    Wrong
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Answer : 5. " 38.88%"
Explanation :

Q:

What is the total compound interest on Rs.45000 for 3 years when the sum is divided into a ratio of 4 : 5 and rate of interest on a small sum is 10% and 20% on the large sum? (Compounded annually)

199 0

  • 1
    Rs. 20010
    Correct
    Wrong
  • 2
    Rs. 24820
    Correct
    Wrong
  • 3
    Rs. 25630
    Correct
    Wrong
  • 4
    Rs. 26400
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs. 24820"

Q:

The difference between the compound interest (compounded annually) and simple interest on a sum of money deposited for 2 years at 5% per annum is Rs. 15. What is the sum of money deposited?

259 0

  • 1
    Rs. 6,000
    Correct
    Wrong
  • 2
    Rs. 4,800
    Correct
    Wrong
  • 3
    Rs. 3,600
    Correct
    Wrong
  • 4
    Rs. 2,400
    Correct
    Wrong
  • 5
    Rs. 3,400
    Correct
    Wrong
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Answer : 1. "Rs. 6,000"

Q:

A man invested a certain sum in scheme A at 15% p.a. for 2 years and earned Rs 1950 as simple interest. He increased his sum by Rs. ‘x’ and invested in another scheme B at 10% p.a. C.I. for 2 years and received Rs. 1680 as compound interest. Find the value of ‘x’. 

278 0

  • 1
    Rs. 1750
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1250
    Correct
    Wrong
  • 4
    Rs. 1850
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. " Rs. 1500"

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Answer : 3. "₹1,272"

Q:

A loan is to be returned in two equal yearly instalments. If the rate of interest is 10% p.a., compounded annually, and each instalment is ₹5,808, then the total interest charged in this scheme is:

255 0

  • 1
    ₹1,563
    Correct
    Wrong
  • 2
    ₹1,536
    Correct
    Wrong
  • 3
    ₹1,632
    Correct
    Wrong
  • 4
    ₹1,602
    Correct
    Wrong
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Answer : 2. "₹1,536"

Q:

The rate of interest for the first 2 years is 6% p.a., for the next 3 years is 10% p.a., and for the period beyond 5 years is 12% p.a. If a person gets ₹12,771 as simple interest after 7 years, then how much money did he invest?

209 0

  • 1
    ₹20,000
    Correct
    Wrong
  • 2
    ₹19,350
    Correct
    Wrong
  • 3
    ₹19,450
    Correct
    Wrong
  • 4
    ₹19,300
    Correct
    Wrong
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Answer : 2. "₹19,350"

Q:

A certain sum is lent at 4% p.a. for 3 years, 8% p.a. for the next 4 years, and 12% p.a. beyond 7 years. If for a period of 11 years, the simple interest obtained is ₹27,600, then the sum is (in ₹):

187 0

  • 1
    25,000
    Correct
    Wrong
  • 2
    32,000
    Correct
    Wrong
  • 3
    27,000
    Correct
    Wrong
  • 4
    30,000
    Correct
    Wrong
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Answer : 4. "30,000"

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