Compound interest questions Practice Question and Answer

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:

749 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:

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:

744 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:

A borrows an amount of ₹3,600 from B at a rate of 20% simple interest for 2 years and lends 75% of this amount to C at 20% compound interest for 2 years. A uses the remaining amount for his personal purpose. Find the total loss incurred by A.

720 0

  • 1
    ₹ 928
    Correct
    Wrong
  • 2
    ₹ 852
    Correct
    Wrong
  • 3
    ₹ 1152
    Correct
    Wrong
  • 4
    ₹1024
    Correct
    Wrong
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Answer : 3. "₹ 1152"

Q:

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

673 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:

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?

669 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:

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.

664 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 Rs. 6,000 is deposited for 3 years at 5% per annuam compound interest (compoun- ded annually). The difference of interests for 3 and 2 years will be:

658 0

  • 1
    Rs. 75.00
    Correct
    Wrong
  • 2
    Rs. 30.75
    Correct
    Wrong
  • 3
    Rs. 330.75
    Correct
    Wrong
  • 4
    Rs. 375.00
    Correct
    Wrong
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Answer : 3. "Rs. 330.75 "

Q:

Rs. 10,000 is being compounded at 20% per annum. Calculate the amount after 2 years if the rate of interest is charged half yearly.

655 0

  • 1
    14600
    Correct
    Wrong
  • 2
    12500
    Correct
    Wrong
  • 3
    14642
    Correct
    Wrong
  • 4
    14641
    Correct
    Wrong
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Answer : 4. "14641"

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