Compound interest questions Practice Question and Answer

Q:

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

1202 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:

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 

1200 0

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

Q:

The difference between the simple interest and the compound interest (compounded annually) at the rate of 12% per annum on Rs.5000 for 2 years will be 

1200 0

  • 1
    Rs.17.50
    Correct
    Wrong
  • 2
    Rs.36
    Correct
    Wrong
  • 3
    Rs.45
    Correct
    Wrong
  • 4
    Rs.72
    Correct
    Wrong
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Answer : 4. "Rs.72 "

Q:

The compound interest on a certain sum of money invested for 2 years at 5 % per annum is Rs. 328. The simple interest on the sum, at the same rate and for the same period will be 

1198 0

  • 1
    Rs . 320
    Correct
    Wrong
  • 2
    Rs . 308
    Correct
    Wrong
  • 3
    Rs . 300
    Correct
    Wrong
  • 4
    Rs . 287
    Correct
    Wrong
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Answer : 1. "Rs . 320 "

Q:

A person invested 1100 in a company at compound interest compounded semi-annually. He received 1331 after one year. The rate of interest per annum is 

1189 0

  • 1
    11%
    Correct
    Wrong
  • 2
    20%
    Correct
    Wrong
  • 3
    5%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 2. "20%"

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:

1178 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:

If the interest is compounded half-yearly, then what will be the compound interest (in Rs) on a sum of Rs 10000 for 1 year at the rate of 10% per annum?

1169 0

  • 1
    1250
    Correct
    Wrong
  • 2
    525
    Correct
    Wrong
  • 3
    1000
    Correct
    Wrong
  • 4
    1025
    Correct
    Wrong
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Answer : 4. "1025"

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Answer : 3. "Rs.39,490 "

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