Compound interest questions Practice Question and Answer

Q:

If the amount received at the end of 2nd and 3rd year as Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate (in %) of interest? 

1505 0

  • 1
    9
    Correct
    Wrong
  • 2
    4
    Correct
    Wrong
  • 3
    7
    Correct
    Wrong
  • 4
    10
    Correct
    Wrong
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Answer : 4. "10 "

Q: A sum of money at compound interest amounts to thrice itself in three years. In how many years will it be 81 times itself? 1501 0

  • 1
    27
    Correct
    Wrong
  • 2
    9
    Correct
    Wrong
  • 3
    12
    Correct
    Wrong
  • 4
    15
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "12"

Q:

A bank pays half-yearly compound interest at the rate of 5% p.a. . A person deposited Rs 1600 on January 1 and a similar amount on July 1 . Explain how much interest will be paid by the bank at the end of the year.

1481 0

  • 1
    168
    Correct
    Wrong
  • 2
    242
    Correct
    Wrong
  • 3
    115
    Correct
    Wrong
  • 4
    121
    Correct
    Wrong
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Answer : 4. "121"

Q:

2,40,000 is taken as loan for three years compounded annually at 12.5 % p.a. At the end of first year, the interest is revised to 12 % p.a. The total amount to be repaid at the end of third year is:

1432 0

  • 1
    ₹ 3,38,688
    Correct
    Wrong
  • 2
    ₹ 3,42,648
    Correct
    Wrong
  • 3
    ₹ 3,26,400
    Correct
    Wrong
  • 4
    ₹ 3,34,800
    Correct
    Wrong
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Answer : 4. "₹ 3,34,800 "

Q:

In 3 years ₹ 3000 amounts to ₹ 3993 at x % compound interest, compounded annually. The value of x is 

1429 0

  • 1
    5%
    Correct
    Wrong
  • 2
    33%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    8%
    Correct
    Wrong
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Answer : 3. "10% "

Q:

The ratio between compound interest and simple interest for a certain amount is 43 : 40 for 2 years, the find the rate of interest.

1421 0

  • 1
    15 %
    Correct
    Wrong
  • 2
    18 %
    Correct
    Wrong
  • 3
    20 %
    Correct
    Wrong
  • 4
    12 %
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "15 % "

Q:

On what sum does the difference between the compound interest and the simple interest for 3 years at 10 % is Rs 31?

1410 0

  • 1
    Rs 1500
    Correct
    Wrong
  • 2
    Rs. 1200
    Correct
    Wrong
  • 3
    Rs. 1100
    Correct
    Wrong
  • 4
    Rs. 1000
    Correct
    Wrong
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Answer : 4. "Rs. 1000"

Q:

A certain amount of money earns ₹ 540 as simple interest in 3 years. If it earns compound interest of ₹ 376.20 at the same rate of interest in 2 years, find the principal (in Rupees). 

1408 0

  • 1
    2100
    Correct
    Wrong
  • 2
    2000
    Correct
    Wrong
  • 3
    1600
    Correct
    Wrong
  • 4
    1800
    Correct
    Wrong
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Answer : 2. "2000 "

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