Compound interest questions Practice Question and Answer

Q:

What is the difference between compound interest and simple interest on Rs. 2500 for 2 years at 4% per annum?

1487 0

  • 1
    ₹ 4
    Correct
    Wrong
  • 2
    ₹ 20
    Correct
    Wrong
  • 3
    ₹ 40
    Correct
    Wrong
  • 4
    ₹ 400
    Correct
    Wrong
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Answer : 1. "₹ 4 "

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:

1480 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:

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 

1479 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:

A borrowed Rs.1500 at 4% per annum and Rs.1400 at 5% per annum for the same period. He paid Rs.390 as total interest. Find the time for which he borrowed the sum.

1477 1

  • 1
    3 years
    Correct
    Wrong
  • 2
    3.5 years
    Correct
    Wrong
  • 3
    4.5 years
    Correct
    Wrong
  • 4
    4 years
    Correct
    Wrong
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Answer : 1. "3 years"

Q:

A person invested Rs 3000 on compound interest for two years. If the rate of interest is the 25 % for the first year and 20 % for the second year. Then find the CI?

1471 0

  • 1
    1550
    Correct
    Wrong
  • 2
    1650
    Correct
    Wrong
  • 3
    1600
    Correct
    Wrong
  • 4
    1500
    Correct
    Wrong
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Answer : 4. "1500"

Q:

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

1468 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"

Q:

The compound interest on Rs.16, 000 for 9 months at 20 % per annum, interest being compounded quarterly, is

1465 0

  • 1
    Rs. 2,520
    Correct
    Wrong
  • 2
    Rs. 2,524
    Correct
    Wrong
  • 3
    Rs. 2,522
    Correct
    Wrong
  • 4
    Rs. 2,518
    Correct
    Wrong
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Answer : 3. "Rs. 2,522 "

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? 

1464 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"

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