Compound interest questions Practice Question and Answer

Q:

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

1191 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:

The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is:

1188 0

  • 1
    Rs. 2980
    Correct
    Wrong
  • 2
    Rs. 3091
    Correct
    Wrong
  • 3
    Rs. 3109
    Correct
    Wrong
  • 4
    Rs. 3100
    Correct
    Wrong
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Answer : 3. "Rs. 3109 "

Q:

₹12,000 is lent for one year t the rate of 15% per annum, the interest being compounded annually. If the compounding of the interest is done half- yearly, then how much more interest will be obtained at the end of the one-year period on the same initial sum?

1183 0

  • 1
    ₹72.5
    Correct
    Wrong
  • 2
    ₹82.8
    Correct
    Wrong
  • 3
    ₹60.5
    Correct
    Wrong
  • 4
    ₹67.5
    Correct
    Wrong
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Answer : 4. "₹67.5"

Q:

What will be the compound interest (compounded annually) of 3 years at the rate of 12.5 percent on an amount of Rs. 5120?

1180 0

  • 1
    2280 Rupees
    Correct
    Wrong
  • 2
    1960 Rupees
    Correct
    Wrong
  • 3
    2170 Rupees
    Correct
    Wrong
  • 4
    2120 Rupees
    Correct
    Wrong
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Answer : 3. "2170 Rupees "

Q:

A sum of Rs. 8000 will amount to Rs. 8820 in 2 years if the interest is calculated every year. The rate of compound interest is 

1174 0

  • 1
    3 %
    Correct
    Wrong
  • 2
    5 %
    Correct
    Wrong
  • 3
    6 %
    Correct
    Wrong
  • 4
    7 %
    Correct
    Wrong
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Answer : 2. "5 % "

Q:

The difference between the compound interest (compounded annually) and simple interest on a sum of money deposited for 2 years at 5% per annum is Rs. 15. What is the sum of money deposited?

1171 0

  • 1
    Rs. 6,000
    Correct
    Wrong
  • 2
    Rs. 4,800
    Correct
    Wrong
  • 3
    Rs. 3,600
    Correct
    Wrong
  • 4
    Rs. 2,400
    Correct
    Wrong
  • 5
    Rs. 3,400
    Correct
    Wrong
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Answer : 1. "Rs. 6,000"

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:

1168 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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