Compound interest questions Practice Question and Answer

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.

1510 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:

What is a difference between simple interest and compound interest in 1 year at a rate of 10 percent on an amount of Rs. 1200. If interest is half yearly compounded?

1504 0

  • 1
    5 Rupees
    Correct
    Wrong
  • 2
    6 Rupees
    Correct
    Wrong
  • 3
    3 Rupees
    Correct
    Wrong
  • 4
    9 Rupees
    Correct
    Wrong
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Answer : 3. "3 Rupees"

Q:

Vijay lent Rs.5000. At what rate percent per annum he lent the money?
Statement I: The difference between the simple interest and compound interest on same money is Rs.60.
Statement II: The simple interest obtained after 4 years is Rs.300.
Statement III: The difference between compound interest and simple interest on Rs.60,000 in 2 years is Rs.1350.

1500 0

  • 1
    Only I and II together are sufficient
    Correct
    Wrong
  • 2
    Either II or III are sufficient
    Correct
    Wrong
  • 3
    Any two of the three are sufficient
    Correct
    Wrong
  • 4
    All three together are needed
    Correct
    Wrong
  • 5
    Even all together are not sufficient
    Correct
    Wrong
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Answer : 2. "Either II or III are sufficient"

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). 

1488 0

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

Q:

If the compound interest on a certain sum for two consecutive years is Rs.220 and Rs.242, then the rate of interest per annum is 

1485 0

  • 1
    8%
    Correct
    Wrong
  • 2
    10%
    Correct
    Wrong
  • 3
    11%
    Correct
    Wrong
  • 4
    12%
    Correct
    Wrong
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Answer : 2. "10% "

Q:

How much time will it take for an amount of Rs.360 to yield Rs.72 as interest at 5 % p.a of simple interest?

1483 1

  • 1
    3 years
    Correct
    Wrong
  • 2
    4 years
    Correct
    Wrong
  • 3
    2.5 years
    Correct
    Wrong
  • 4
    3.5 years
    Correct
    Wrong
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Answer : 2. "4 years"

Q:

If the compound interest rate is 20% per annum compounded half yearly, then what will be the interest for two years on the principal of Rs. 100000?

1480 0

  • 1
    46,410
    Correct
    Wrong
  • 2
    44,000
    Correct
    Wrong
  • 3
    21,000
    Correct
    Wrong
  • 4
    33,100
    Correct
    Wrong
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Answer : 1. "46,410"

Q:

A certain sum increases by 50 % in 5 years. Three sums x, y and z are lent for 10, 15 and 20 years respectively. If amount on each sum is equal, then find the ratio of x, y and z. 

1479 0

  • 1
    6 : 5 : 4
    Correct
    Wrong
  • 2
    9 : 4 : 6
    Correct
    Wrong
  • 3
    9 : 6 : 5
    Correct
    Wrong
  • 4
    9 : 6 : 4
    Correct
    Wrong
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Answer : 4. "9 : 6 : 4 "

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