Compound interest questions Practice Question and Answer

Q:

If the difference between the compound and simple interest on a certain sum of money for 3 years at 5 % per annum is Rs. 15.25, then the sum is 

1046 0

  • 1
    Rs. 1,500
    Correct
    Wrong
  • 2
    Rs. 2,500
    Correct
    Wrong
  • 3
    Rs. 2,000
    Correct
    Wrong
  • 4
    Rs. 1,000
    Correct
    Wrong
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Answer : 3. "Rs. 2,000 "

Q:

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

1034 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:

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?

1016 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:

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

1014 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:

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

1008 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:

What will be the difference between the compound interest and simple interest of 2 years at the rate of 5 percent annual interest at Rs. 4,000?

995 0

  • 1
    10
    Correct
    Wrong
  • 2
    11
    Correct
    Wrong
  • 3
    20
    Correct
    Wrong
  • 4
    100
    Correct
    Wrong
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Answer : 1. "10"

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?

993 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"

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