Compound interest questions Practice Question and Answer

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?

1593 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:

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

1579 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:

What will be the compound interest of 3 years at the rate of 5 % of 1000 rupees?

1574 0

  • 1
    Rs. 157.650
    Correct
    Wrong
  • 2
    Rs. 157.625
    Correct
    Wrong
  • 3
    Rs. 155.625
    Correct
    Wrong
  • 4
    Rs. 160.625
    Correct
    Wrong
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Answer : 2. "Rs. 157.625 "

Q:

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

1567 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:

A sum of money doubles itself in 4 years compound interest. It will amount to 8 times itself at the same rate of interest is -

1564 0

  • 1
    16 years
    Correct
    Wrong
  • 2
    24 years
    Correct
    Wrong
  • 3
    18 years
    Correct
    Wrong
  • 4
    12 years
    Correct
    Wrong
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Answer : 4. "12 years "

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?

1561 0

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

Q:

The compound interest on a certain sum of money for 2 years at 5% per annum is Rs. 410. The simple interest on the same sum at the same rate and for the same time is-

1557 0

  • 1
    Rs. 350
    Correct
    Wrong
  • 2
    Rs. 405
    Correct
    Wrong
  • 3
    Rs. 400
    Correct
    Wrong
  • 4
    Rs. 300
    Correct
    Wrong
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Answer : 3. "Rs. 400"

Q:

A lent some money from B and paid 1,573 after$$ {1{1\over 2}}$$ yr . Also B lent some money from A and paid 1444.50 after 6 months. If they want to settle the account forthwith, keeping 14 % as the rate of interest, then who should pay whom and how much?

1550 0

  • 1
    A to B Rs. 28.50
    Correct
    Wrong
  • 2
    B to A Rs. 3750
    Correct
    Wrong
  • 3
    A to B Rs.50
    Correct
    Wrong
  • 4
    B to A Rs.50
    Correct
    Wrong
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Answer : 4. "B to A Rs.50 "

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