Compound interest questions Practice Question and Answer

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 ₹):

1444 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"

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 

1425 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? 

1418 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:

If the present worth of a certain sum due 2 years hence at 10% per annum at a compound interest principal is Rs. 2500, find the amount.

1417 0

  • 1
    Rs. 2400
    Correct
    Wrong
  • 2
    Rs. 3025
    Correct
    Wrong
  • 3
    Rs. 2420
    Correct
    Wrong
  • 4
    Rs. 4220
    Correct
    Wrong
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Answer : 1. "Rs. 2400 "

Q:

A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in

1413 0

  • 1
    45 years
    Correct
    Wrong
  • 2
    48 years
    Correct
    Wrong
  • 3
    54 years
    Correct
    Wrong
  • 4
    60 years
    Correct
    Wrong
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Answer : 1. "45 years "

Q:

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

1412 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:

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

1392 0

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

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