Compound interest questions Practice Question and Answer

Q:

The difference between the compound and the simple interest on a sum for 2 years at 10 % per annum , when the interest is compounded annually, is Rs.28. If the yearly interest were compounded half yearly, the difference in the two interests will be 

907 0

  • 1
    Rs. 43.41
    Correct
    Wrong
  • 2
    Rs. 43.29
    Correct
    Wrong
  • 3
    Rs. 44
    Correct
    Wrong
  • 4
    Rs. 28.35
    Correct
    Wrong
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Answer : 1. "Rs. 43.41 "

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? 

905 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 "

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:

902 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:

What is compound interest on a sum of Rs. 37,500 for years at a rate of 12 % per year. If the interest is compounded 8 monthly?

897 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:

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

893 0

  • 1
    3
    Correct
    Wrong
  • 2
    Correct
    Wrong
  • 3
    2
    Correct
    Wrong
  • 4
    Correct
    Wrong
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Answer : 3. "2"

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

893 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:

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?

892 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:

The difference between the compound interest and simple interest on a certain sum at the rate of 5% p.a in 3 years is Rs. 15.25. The sum is:

892 0

  • 1
    Rs. 2000
    Correct
    Wrong
  • 2
    Rs. 1000
    Correct
    Wrong
  • 3
    Rs. 2500
    Correct
    Wrong
  • 4
    Rs. 1500
    Correct
    Wrong
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Answer : 1. "Rs. 2000"

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