Compound interest questions Practice Question and Answer

Q:

The compound interest earned in two years at 8 % per annum is 3993.6 . What is the sum invested? 

1458 0

  • 1
    24000
    Correct
    Wrong
  • 2
    25000
    Correct
    Wrong
  • 3
    30000
    Correct
    Wrong
  • 4
    20000
    Correct
    Wrong
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Answer : 1. "24000 "

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). 

1449 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:

The simple and compound interest that can be earned in two years at the same rate is Rs 1500 and Rs 1575 respectively. What is the rate (% per annum) of interest?

1446 0

  • 1
    12.5%
    Correct
    Wrong
  • 2
    20%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    5%
    Correct
    Wrong
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Answer : 3. "10% "

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 

1444 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?

1438 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:

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.

1437 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:

In what time will ₹ 64,000 amount to ₹ 68,921 at 5 % per annum interest being compounded half yearly? 

1430 0

  • 1
    $$3{1\over 2}\ years$$
    Correct
    Wrong
  • 2
    $$2{1\over 2}\ years$$
    Correct
    Wrong
  • 3
    $$1{1\over 2}\ years$$
    Correct
    Wrong
  • 4
    $$1{3\over 2}\ years$$
    Correct
    Wrong
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Answer : 3. "$$1{1\over 2}\ years$$"

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?

1429 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"

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