Compound interest questions Practice Question and Answer
8 Q: A person borrows Rs.1,00,000 from a bank at 10% per annum simple interest and clears the debt in five years. If the instalment paid at the end of the first, second, third and fourth years to clear the debt are Rs.10,000, Rs.20,000, Rs.30,000 and Rs.40,000, respectively, what amount should be paid at the end of the fifth year to clear the debt?
1672 0647f312a51bf194753009b4d
647f312a51bf194753009b4d- 1Rs.40,450false
- 2Rs.36,450false
- 3Rs.39,490true
- 4Rs.38,250false
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Answer : 3. "Rs.39,490 "
Q: The sum for 2 years gives a compound interest of ₹ 3225 at 15 % rate. Then sum is
1670 05f16c441cf79540a753983b7
5f16c441cf79540a753983b7- 115000false
- 232250false
- 310000true
- 420000false
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Answer : 3. "10000 "
Q: If the amount is $$3{3\over 8}$$ times the sum after 3 years at compound interest compounded annually, then the rate of interest per annum is
1656 05f16d33acf79540a7539c7a1
5f16d33acf79540a7539c7a1- 163%false
- 233%false
- 325%false
- 450%true
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Answer : 4. "50% "
Q: What will be the compound interest (nearest to Rs. 1 on a sum of Rs. 25,000 for 2 years at 12% p.a., if the interest is compounded 8-monthly?
1655 06007eca4d6101033e1724f9f
6007eca4d6101033e1724f9f- 1Rs. 6.349false
- 2Rs. 6,493true
- 3Rs. 6,394false
- 4Rs. 6,439false
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Answer : 2. "Rs. 6,493"
Q: What is the difference between compound interest and simple interest on Rs. 2500 for 2 years at 4% per annum?
1644 060be073d5d840673873c4943
60be073d5d840673873c4943- 1₹ 4true
- 2₹ 20false
- 3₹ 40false
- 4₹ 400false
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Answer : 1. "₹ 4 "
Q: A sum of money becomes eight times in 3 years, if the rate is compounded annually. In how much time will the amount at the same compound rate become sixteen times?
1636 05f16a6c58cf3201b63278729
5f16a6c58cf3201b63278729- 18 yearsfalse
- 25 yearsfalse
- 36 yearsfalse
- 44 yearstrue
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Answer : 4. "4 years "
Q: In how many years will be Rs. 2,000 amounts to Rs.2,420 at 10% per annum compound interest ?
1633 05f15435ecf79540a75334ff6
5f15435ecf79540a75334ff6- 13 yearsfalse
- 25 yearsfalse
- 32 yearstrue
- 44 yearsfalse
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Answer : 3. "2 years"
Q: If the difference between the compound interest and simple interest on a certain sum at 5% per annum for 3 years is Rs.11.40, what is the approximate sum?
1621 060a214043c86b056326105e4
60a214043c86b056326105e4- 1Rs.1475false
- 2Rs.1585false
- 3Rs.1485false
- 4Rs.1495true
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