Compound interest problems Practice Question and Answer

Q:

A sum invested at a certain rate of interest per annum, compounded annually, amounts to ₹3,600 in 2 years and to ₹6,480 in 4 years. What is the sum invested?

393 0

  • 1
    ₹2500
    Correct
    Wrong
  • 2
    ₹2000
    Correct
    Wrong
  • 3
    ₹2400
    Correct
    Wrong
  • 4
    ₹3600
    Correct
    Wrong
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Answer : 2. "₹2000"

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Answer : 3. "₹ 7.5 "

Q:

Umesh earns a simple interest of ₹1,600 on a certain sum in two years at the rate of 4% per annum. How much more interest would he have earned if he had invested the same sum at 4% interest per annum, compounded annually?

523 0

  • 1
    ₹48
    Correct
    Wrong
  • 2
    ₹64
    Correct
    Wrong
  • 3
    ₹32
    Correct
    Wrong
  • 4
    ₹20
    Correct
    Wrong
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Answer : 3. "₹32 "

Q:

Find the difference between compound interest and simple interest on 5000 for 2 years at 8% p.a payable annually.

640 0

  • 1
    45
    Correct
    Wrong
  • 2
    32
    Correct
    Wrong
  • 3
    57
    Correct
    Wrong
  • 4
    84
    Correct
    Wrong
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Answer : 2. "32"

Q:

The difference between CI and SI on a sum of money for 3 years at 5% per annum is Rs.61. Find the sum.

944 0

  • 1
    ₹ 6000
    Correct
    Wrong
  • 2
    ₹ 8000
    Correct
    Wrong
  • 3
    ₹ 4000
    Correct
    Wrong
  • 4
    ₹ 4680
    Correct
    Wrong
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Answer : 2. "₹ 8000"

Q:

A bank offers a 20% compound interest per half year . A customer deposits Rs. 2800 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is______

1810 0

  • 1
    Rs.1792
    Correct
    Wrong
  • 2
    Rs.448
    Correct
    Wrong
  • 3
    Rs.3584
    Correct
    Wrong
  • 4
    Rs.896
    Correct
    Wrong
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Answer : 1. "Rs.1792 "

Q:

A sum of Rs. 12,000, deposited at compound interest becomes double after 5 years. How much will it be after 20 years? 

855 0

  • 1
    Rs.1,50,000
    Correct
    Wrong
  • 2
    Rs.1,92,000
    Correct
    Wrong
  • 3
    Rs.1,44,000
    Correct
    Wrong
  • 4
    Rs.1,20,000
    Correct
    Wrong
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Answer : 1. "Rs.1,50,000 "

Q: What amount of compound interest can be obtained on the principal amount of Rs. 15800 at the rate of 6 percent per annum at the end of 2 years? 1817 0

  • 1
    Rs 1,896
    Correct
    Wrong
  • 2
    Rs.2012.48
    Correct
    Wrong
  • 3
    Rs. 1952.88
    Correct
    Wrong
  • 4
    Rs.1,956
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "Rs. 1952.88"

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