Compound interest questions Practice Question and Answer

Q:

The amount on ₹ 25000 in 2 years at annually compound interest. if the rate for the successive years be 4 % and 5 % per annum respectively is 

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  • 1
    ₹ 28500
    Correct
    Wrong
  • 2
    ₹ 30000
    Correct
    Wrong
  • 3
    ₹ 26800
    Correct
    Wrong
  • 4
    ₹ 27300
    Correct
    Wrong
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Answer : 4. "₹ 27300 "

Q:

A person lent certain sum of money at 5% per annum simple interest and in 15 years the interest amounted to Rs 250 less than the sum lent. What was the sum lent (in Rs)?

1319 0

  • 1
    1500
    Correct
    Wrong
  • 2
    1000
    Correct
    Wrong
  • 3
    3000
    Correct
    Wrong
  • 4
    2000
    Correct
    Wrong
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Answer : 2. "1000"

Q:

Surekha borrowed a sum of money and returned it in two equal annual instalments of ₹5,547 each. If the rate of interest was $$7{1\over 2}\%$$ p.a. compounded yearly, then the total interest paid by her was:

1317 0

  • 1
    ₹1,144
    Correct
    Wrong
  • 2
    ₹1,096
    Correct
    Wrong
  • 3
    ₹1,126
    Correct
    Wrong
  • 4
    ₹1,134
    Correct
    Wrong
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Answer : 4. "₹1,134"

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?

1314 0

  • 1
    Rs. 6.349
    Correct
    Wrong
  • 2
    Rs. 6,493
    Correct
    Wrong
  • 3
    Rs. 6,394
    Correct
    Wrong
  • 4
    Rs. 6,439
    Correct
    Wrong
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Answer : 2. "Rs. 6,493"

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? 

1311 0

  • 1
    Rs.1475
    Correct
    Wrong
  • 2
    Rs.1585
    Correct
    Wrong
  • 3
    Rs.1485
    Correct
    Wrong
  • 4
    Rs.1495
    Correct
    Wrong
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Answer : 4. "Rs.1495"

Q:

Mr. Mike borrowed Rs. 8500 at 4 % per annum compound interest. The compound interest compounded annually for 2 yeas is:

1306 0

  • 1
    Rs. 9136.6
    Correct
    Wrong
  • 2
    Rs. 639.6
    Correct
    Wrong
  • 3
    Rs. 693.6
    Correct
    Wrong
  • 4
    Rs. 9139.6
    Correct
    Wrong
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Answer : 3. "Rs. 693.6"

Q:

A man invested a certain sum in scheme A at 15% p.a. for 2 years and earned Rs 1950 as simple interest. He increased his sum by Rs. ‘x’ and invested in another scheme B at 10% p.a. C.I. for 2 years and received Rs. 1680 as compound interest. Find the value of ‘x’. 

1295 0

  • 1
    Rs. 1750
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1250
    Correct
    Wrong
  • 4
    Rs. 1850
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. " Rs. 1500"

Q:

In how many years will Rs 2000 become Rs 2420 at 10 percent compound annual interest?

1294 0

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

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