Compound interest questions Practice Question and Answer

Q:

A sum of money becomes eight times of itself in 3 years at compound interest. The rate of interest per annum is 

1487 0

  • 1
    20 %
    Correct
    Wrong
  • 2
    10 %
    Correct
    Wrong
  • 3
    100 %
    Correct
    Wrong
  • 4
    80 %
    Correct
    Wrong
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Answer : 3. "100 % "

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?

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  • 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:

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  • 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"

Q:

The difference between the simple interest and the compound interest (compounded annually) at the rate of 12% per annum on Rs.5000 for 2 years will be 

1470 0

  • 1
    Rs.17.50
    Correct
    Wrong
  • 2
    Rs.36
    Correct
    Wrong
  • 3
    Rs.45
    Correct
    Wrong
  • 4
    Rs.72
    Correct
    Wrong
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Answer : 4. "Rs.72 "

Q:

If the interest is compounded half yearly, then interest on Rs.16000 at 5% per annum, at the end of $$ {{1}{1\over 2}}$$ years is.

1455 0

  • 1
    $$ {1230}{1\over 4}$$
    Correct
    Wrong
  • 2
    $$ {1210}{1\over 4}$$
    Correct
    Wrong
  • 3
    $$ {1215}{1\over 4}$$
    Correct
    Wrong
  • 4
    $$ {1225}{1\over 4}$$
    Correct
    Wrong
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Answer : 1. "$$ {1230}{1\over 4}$$"

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 -

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  • 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:

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

1451 0

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

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