Compound interest questions Practice Question and Answer

Q:

₹26100 is divided between Mohan and Shyam so that the interest that Mohan receives in 3 years is the same as that Shyam receives in 6 years. If the interest rate of 4% per annum then Mohan's share is :

957 0

  • 1
    ₹8,500
    Correct
    Wrong
  • 2
    ₹17,400
    Correct
    Wrong
  • 3
    ₹8,700
    Correct
    Wrong
  • 4
    ₹19,000
    Correct
    Wrong
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Answer : 4. "₹19,000"

Q:

A lent some money from B and paid 1,573 after 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?

953 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 "

Q:

Mr. Rajesh invested Rs.25000 in two fixed deposits X and Y offering compound interest at 6% per annum and 8% per annum, respectively. If the total amount of interest accrued in two years through both fixed deposits is Rs.3518, then the amount invested in scheme X is -

953 0

  • 1
    Rs.15000
    Correct
    Wrong
  • 2
    Rs.16500
    Correct
    Wrong
  • 3
    Rs.12000
    Correct
    Wrong
  • 4
    Rs.13500
    Correct
    Wrong
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Answer : 1. "Rs.15000 "

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 -

947 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:

Find the compound interest to the nearest rupee on Rs. 7500 for 2 years 4 months at 12% p.a reckoned annually?

939 0

  • 1
    2284
    Correct
    Wrong
  • 2
    2176
    Correct
    Wrong
  • 3
    2097
    Correct
    Wrong
  • 4
    2235
    Correct
    Wrong
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Answer : 1. "2284"

Q:

What is the compound interest on Rs. 48,000 for 2 years at 20% p.a., if interest is compounded annually?

937 0

  • 1
    Rs. 69,120
    Correct
    Wrong
  • 2
    Rs. 21,120
    Correct
    Wrong
  • 3
    Rs. 76,800
    Correct
    Wrong
  • 4
    Rs. 72,000
    Correct
    Wrong
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Answer : 2. "Rs. 21,120"

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 p.a. compounded yearly, then the total interest paid by her was:

931 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 difference between compound interest and simple interest on a sum of money for 3 years at 8% per annum is Rs. 354.80. Find the sum.

930 0

  • 1
    Rs. 15000
    Correct
    Wrong
  • 2
    Rs. 18000
    Correct
    Wrong
  • 3
    Rs. 32000
    Correct
    Wrong
  • 4
    Rs. 27000
    Correct
    Wrong
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Answer : 2. "Rs. 18000"

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