Compound interest questions Practice Question and Answer

Q:

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

1251 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 is the compound interest on ₹24,000 for 2 years at the rate of 10% per annum, if interest is compounded annually?

1234 0

  • 1
    ₹5,280
    Correct
    Wrong
  • 2
    ₹4,820
    Correct
    Wrong
  • 3
    ₹6,080
    Correct
    Wrong
  • 4
    ₹5,040
    Correct
    Wrong
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Answer : 4. "₹5,040"

Q:

The difference between compound interest and simple interest on a sum of money for 3 years at 8% per annum is Rs. 354.80. Find the sum.

1229 0

  • 1
    Rs. 15000
    Correct
    Wrong
  • 2
    Rs. 18000
    Correct
    Wrong
  • 3
    Rs. 32000
    Correct
    Wrong
  • 4
    Rs. 27000
    Correct
    Wrong
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Answer : 2. "Rs. 18000"

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.

1221 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 certain sum amounts to Rs. 5,832 in 2 years at 8% per annum compound interest, the sum is: 

1216 0

  • 1
    Rs. 5,000
    Correct
    Wrong
  • 2
    Rs. 5,200
    Correct
    Wrong
  • 3
    Rs. 5,280
    Correct
    Wrong
  • 4
    Rs.5,400
    Correct
    Wrong
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Answer : 1. "Rs. 5,000"

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 

1209 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 a sum of ₹5,500 at 15% p.a. for 2 years, when the interest is  compounded 8 monthly, is:

1199 0

  • 1
    ₹1,850
    Correct
    Wrong
  • 2
    ₹1,880
    Correct
    Wrong
  • 3
    ₹1,820.50
    Correct
    Wrong
  • 4
    ₹1,773.75
    Correct
    Wrong
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Answer : 3. "₹1,820.50"

Q:

If the compound interest rate is 20%  per year, compounded half-yearly, then what will be the interest of two years on the principal of 1,00,000?

1193 0

  • 1
    46,410
    Correct
    Wrong
  • 2
    44,000
    Correct
    Wrong
  • 3
    21,000
    Correct
    Wrong
  • 4
    33,100
    Correct
    Wrong
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Answer : 1. "46,410"

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