Compound interest questions Practice Question and Answer

Q:

1261 in 3 years at the rate of 5 percent annual interest on a sum of money. Interest is received by compound . money will be

1085 0

  • 1
    9000
    Correct
    Wrong
  • 2
    8400
    Correct
    Wrong
  • 3
    7500
    Correct
    Wrong
  • 4
    8000
    Correct
    Wrong
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Answer : 4. "8000"

Q:

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

1082 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:

₹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 :

1077 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:

If the difference between 2 years compound interest and simple interest at the rate of 5 percent of an amount is Rs. 25, then that amount will be?

1077 0

  • 1
    Rs. 15,000
    Correct
    Wrong
  • 2
    Rs. 10,000
    Correct
    Wrong
  • 3
    Rs. 20,000
    Correct
    Wrong
  • 4
    Rs. 12,000
    Correct
    Wrong
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Answer : 2. "Rs. 10,000"

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’. 

1076 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:

What is compound interest on a sum of Rs. 37,500 for $$ {1{1\over 3}}$$ years at a rate of 12 % per year. If the interest is compounded 8 monthly?

1074 0

  • 1
    Rs.6, 420
    Correct
    Wrong
  • 2
    Rs.6, 448
    Correct
    Wrong
  • 3
    Rs.6, 240
    Correct
    Wrong
  • 4
    Rs.6, 440
    Correct
    Wrong
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Answer : 3. "Rs.6, 240"

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.

1071 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"

Q:

A sum of money becomes double in 3 years at compound interest compounded annually at the same rate. In how many years will it become four times of itself? 

1070 0

  • 1
    6.4 years
    Correct
    Wrong
  • 2
    7.5 years
    Correct
    Wrong
  • 3
    4 years
    Correct
    Wrong
  • 4
    6 years
    Correct
    Wrong
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Answer : 4. "6 years "

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