Compound interest questions Practice Question and Answer

Q:

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

1036 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:

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

1034 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:

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 -

1034 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:

Anu invested Rs. 15000 at the rate of interest 10% p.a. for one year. If the compound interest is compounded at every six months, what amount will Anu get at the end of the year?

1030 0

  • 1
    Rs. 16525.50
    Correct
    Wrong
  • 2
    Rs. 18150
    Correct
    Wrong
  • 3
    Rs. 16537.50
    Correct
    Wrong
  • 4
    Rs. 16500
    Correct
    Wrong
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Answer : 3. "Rs. 16537.50"

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?

1030 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:

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? 

1021 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:

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.

1020 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:

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

1015 0

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

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