Compound interest questions Practice Question and Answer
8 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?
1694 05f3f999e9b782961da393fd1
5f3f999e9b782961da393fd1- 15 Rupeesfalse
- 26 Rupeesfalse
- 33 Rupeestrue
- 49 Rupeesfalse
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Answer : 3. "3 Rupees"
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:
1691 05ef40cfc81a47f2e7aefa1cf
5ef40cfc81a47f2e7aefa1cf- 1₹ 3,38,688false
- 2₹ 3,42,648false
- 3₹ 3,26,400false
- 4₹ 3,34,800true
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Answer : 4. "₹ 3,34,800 "
Q: In what time will ₹ 64,000 amount to ₹ 68,921 at 5 % per annum interest being compounded half yearly?
1682 05f16b98d9a713b0717cd4699
5f16b98d9a713b0717cd4699- 1$$3{1\over 2}\ years$$false
- 2$$2{1\over 2}\ years$$false
- 3$$1{1\over 2}\ years$$true
- 4$$1{3\over 2}\ years$$false
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Answer : 3. "$$1{1\over 2}\ years$$"
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?
1677 160c097fa046ad7381c626c70
60c097fa046ad7381c626c70- 13 yearsfalse
- 24 yearstrue
- 32.5 yearsfalse
- 43.5 yearsfalse
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Answer : 2. "4 years"
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
1674 05ec5f7d0552ff02e7121496d
5ec5f7d0552ff02e7121496d- 18%false
- 210%true
- 311%false
- 412%false
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Answer : 2. "10% "
Q: Two equal amounts are deposited in two different banks at 12% for 3 years and 4.5 years. The difference between simple interest received is Rs. 72. Find the amount deposited in bank. 1662 05d1204a8557b295f691f6589
5d1204a8557b295f691f6589- 1500false
- 2400true
- 3600false
- 4450false
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Answer : 2. "400"
Q: In how much time compound money at compound interest of half yearly rate of Rs 800 will be Rs 926.10?
1658 05f8014d188aba328edada09e
5f8014d188aba328edada09e- 1$$ {1}{1\over3}year$$false
- 2$$ {1}{1\over2}year$$true
- 3$$ {2}{1\over3}year$$false
- 4$$ {2}{1\over2}year$$false
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Answer : 2. "$$ {1}{1\over2}year$$"
Q: The compound interest on Rs.30,000 at 7% per annum is Rs. 4347. The period (in years) is:
1634 05ecf41f8a7365b2f4ce2021b
5ecf41f8a7365b2f4ce2021b- 12½false
- 23false
- 32true
- 44false
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Answer : 3. "2"
Explanation :
We know that
$$ {A=P{(1+{r\over 100}})}^{t}$$
Putting the value we can get answer