Compound interest questions Practice Question and Answer

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:

1031 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 man buys a scooter on making a cash down payment of Rs. 16224 and promises to pay two more yearly installments of equivalent amount in next two years. If the rate of interest is 4% per annum, compounded. yearly, the cash value of the 50 scooter, is:

1022 0

  • 1
    Rs. 40000
    Correct
    Wrong
  • 2
    Rs. 46824
    Correct
    Wrong
  • 3
    Rs. 46000
    Correct
    Wrong
  • 4
    Rs. 50000
    Correct
    Wrong
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Answer : 2. "Rs. 46824 "

Q:

The compound interest on Rs. 1000 at 10% per annum for 3 years in (Rs.) is

996 0

  • 1
    Rs. 1331
    Correct
    Wrong
  • 2
    Rs. 331
    Correct
    Wrong
  • 3
    Rs. 300
    Correct
    Wrong
  • 4
    Rs. 1300
    Correct
    Wrong
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Answer : 2. "Rs. 331"

Q:

Compute the compound interest on ₹ 8,400 for one and half years at 12% rate of interest per annum, compounded half yearly.

996 0

  • 1
    ₹ 3,276.40
    Correct
    Wrong
  • 2
    ₹ 2,948.60
    Correct
    Wrong
  • 3
    ₹ 3401.30
    Correct
    Wrong
  • 4
    ₹ 1,604.50
    Correct
    Wrong
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Answer : 4. "₹ 1,604.50"

Q:

The compound interest on a certain sum for first two successive years are Rs. 100 and Rs. 172 respectively. Find the rate of interest.

993 0

  • 1
    63%
    Correct
    Wrong
  • 2
    72%
    Correct
    Wrong
  • 3
    55%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. "10%"

Q:

A money-lender borrows money at 4% per annum and pays the interest at the end of the year. He lends it at 6% per annum compound interest compounded half yearly and receives the interest at the end of the year. In this way; he ghins Rs. 104.50 a year. The amount of money he borrows, is:

992 0

  • 1
    Rs. 6,000
    Correct
    Wrong
  • 2
    Rs. 5,500
    Correct
    Wrong
  • 3
    Rs. 5,000
    Correct
    Wrong
  • 4
    Rs. 4,500
    Correct
    Wrong
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Answer : 3. "Rs. 5,000 "

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?

976 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:

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?

973 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"

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