Compound interest questions Practice Question and Answer

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:

What will be the compound interest of Rs 160000 payable half yearly at 10% per annum in 2 years?

1283 0

  • 1
    34846
    Correct
    Wrong
  • 2
    34481
    Correct
    Wrong
  • 3
    19448
    Correct
    Wrong
  • 4
    37946
    Correct
    Wrong
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Answer : 2. "34481"

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 

1279 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 Rs. 8000 will amount to Rs. 8820 in 2 years if the interest is calculated every year. The rate of compound interest is 

1273 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:

A sum of ₹4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is ₹352. The sum lent at 8% is

1272 2

  • 1
    ₹2900
    Correct
    Wrong
  • 2
    ₹2200
    Correct
    Wrong
  • 3
    ₹2400
    Correct
    Wrong
  • 4
    ₹3100
    Correct
    Wrong
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Answer : 3. "₹2400"

Q:

At what rate per annum will Rs. 32000 yield a compound interest of Rs. 5044 in 9 months interest being compounded quarterly?

1272 0

  • 1
    20%
    Correct
    Wrong
  • 2
    32%
    Correct
    Wrong
  • 3
    50%
    Correct
    Wrong
  • 4
    80%
    Correct
    Wrong
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Answer : 1. "20% "

Q:

A certain sum is lent at 4% p.a. for 3 years, 8% p.a. for the next 4 years, and 12% p.a. beyond 7 years. If for a period of 11 years, the simple interest obtained is ₹27,600, then the sum is (in ₹):

1266 0

  • 1
    25,000
    Correct
    Wrong
  • 2
    32,000
    Correct
    Wrong
  • 3
    27,000
    Correct
    Wrong
  • 4
    30,000
    Correct
    Wrong
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Answer : 4. "30,000"

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