Compound interest questions Practice Question and Answer

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

1384 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 is the compound interest on ₹24,000 for 2 years at the rate of 10% per annum, if interest is compounded annually?

1380 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:

What is the difference (in ₹) between the simple interest and the compound interest on a sum of ₹8000 for $$32{2\over 5}$$ years at the rate of 10% p.a., when the interest is compounded yearly?

1364 0

  • 1
    147.20
    Correct
    Wrong
  • 2
    152.80
    Correct
    Wrong
  • 3
    155
    Correct
    Wrong
  • 4
    150
    Correct
    Wrong
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Answer : 1. "147.20 "

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:

1355 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:

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 

1348 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 certain sum amounts to Rs. 5,832 in 2 years at 8% per annum compound interest, the sum is: 

1348 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:

What will be the difference between the compound interest and the simple interest on a sum of 1000 for 2 years at 5% per annum?

1325 0

  • 1
    2
    Correct
    Wrong
  • 2
    2.5
    Correct
    Wrong
  • 3
    3
    Correct
    Wrong
  • 4
    3.5
    Correct
    Wrong
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Answer : 2. "2.5"

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.

1324 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"

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