Compound interest questions Practice Question and Answer
8 Q: The compound interest on Rs.30,000 at 7% per annum is Rs. 4347. The period (in years) is:
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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
Q: A sum borrowed under compound interest doubles itself in 10 years. When will it become fourfold of itself at the same rate of interest?
1691 0605af466c5c99d2cb7f43d52
605af466c5c99d2cb7f43d52- 115 yearsfalse
- 220 yearstrue
- 324 yearsfalse
- 440 yearsfalse
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Answer : 2. "20 years"
Q: A man borrows some money at 3% simple interest per annum and lends it to somebody at 5% interest to be compounded annually. By this he makes a profit of Rs.541 at the end of 3 years. The money he borrowed was-
1686 060c199ba590e633a7d3b660e
60c199ba590e633a7d3b660e- 1Rs. 15800false
- 2Rs. 18400false
- 3Rs. 8000true
- 4Rs. 12000false
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Answer : 3. "Rs. 8000 "
Q: A sum of Rs.13,000 is to be paid back in 2 equal annual instalments. How much is each instalment if the interest is compounded annually at 8 % per annum?
1679 05fc475cda5adbb0808cff29c
5fc475cda5adbb0808cff29c- 1Rs.7280false
- 2Rs.7290true
- 3Rs.7270false
- 4Rs.7920false
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Answer : 2. "Rs.7290"
Q: A sum of money was lent at 10% per annum, compounded annually, for 2 years. If the interest was compounded half - yearly, he would have received Rs.660.75 more. Find the sum.
1670 060b6e136cef13e72bbf8eb27
60b6e136cef13e72bbf8eb27- 1120000false
- 2124000false
- 3104400true
- 4150000false
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Answer : 3. "104400 "
Q: There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
1662 05fd34cd4c46a213fc5c57630
5fd34cd4c46a213fc5c57630- 1Rs. 2160false
- 2Rs. 3120false
- 3Rs. 3972true
- 4Rs. 6240false
- 5None of thesefalse
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Answer : 3. "Rs. 3972"
Q: The compound interest on Rs. 6250 at 12% per annum for 1 year, compounded half-yearly is
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5ee9ac32bc81cb2528ec18b3- 1772.50true
- 2772false
- 3672.50false
- 4672false
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Answer : 1. "772.50"
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?
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60fe342b81fb4616a6562d1d- 112.5%false
- 220%false
- 310%true
- 45%false
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