Compound interest questions Practice Question and Answer

Q:

A sum of Rs. 2000 at 40% per annum compounded annually. Calculate the interest for the third year at compound interest.

1623 0

  • 1
    1500
    Correct
    Wrong
  • 2
    1600
    Correct
    Wrong
  • 3
    1568
    Correct
    Wrong
  • 4
    1750
    Correct
    Wrong
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Answer : 3. "1568 "

Q:

When a amount is given at a compound interest rate of 18% per annum, the interest received on compound annual payable in two years will be Rs 960 more than half yearly interest. What is the amount?

1617 0

  • 1
    60,000
    Correct
    Wrong
  • 2
    70,000
    Correct
    Wrong
  • 3
    55,000
    Correct
    Wrong
  • 4
    50,000
    Correct
    Wrong
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Answer : 4. "50,000"

Q:

The difference between compound interest and simple interest on a sum for 2 year at 20% per annum is Rs 200. If the interest is compounded half yearly, then what is the difference (in Rs) between compound and simple interest for 15 year? 

1615 0

  • 1
    100
    Correct
    Wrong
  • 2
    150
    Correct
    Wrong
  • 3
    50
    Correct
    Wrong
  • 4
    75
    Correct
    Wrong
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Answer : 3. "50"

Q:

A, B and C invested amounts in the ratio 3 : 4 : 5 respectively. If the schemes offered compound at the rate of 20 % per annum, 15 % per annum and 10 % per annum respectively, then what will be the ratio of their amounts after 1 year? 

1609 0

  • 1
    36:46:55
    Correct
    Wrong
  • 2
    12:23:11
    Correct
    Wrong
  • 3
    3:15:25
    Correct
    Wrong
  • 4
    6 : 6 : 5
    Correct
    Wrong
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Answer : 1. "36:46:55 "

Q:

A sum of money amounted to Rs.720 in 2 years and Rs.792 in 3 years when interest is compounded annually. The annual rate of interest , (in%) is:

1599 0

  • 1
    5%
    Correct
    Wrong
  • 2
    7.50%
    Correct
    Wrong
  • 3
    7%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. " 10%"

Q:

On a certain principal if the simple interest for two years is Rs. 1400 and compound interest for the two years is Rs. 1449, what is the rate of interest? 

1594 0

  • 1
    3.5 %
    Correct
    Wrong
  • 2
    14 %
    Correct
    Wrong
  • 3
    7 %
    Correct
    Wrong
  • 4
    21 %
    Correct
    Wrong
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Answer : 3. "7 % "

Q:

A person can buy a refrigerator for Rs.15,850 on cash payment or in installments for every year at 10% p.a for four years compounded annually. What is the approximate annual installment that he should pay?

1586 0

  • 1
    Rs.6000
    Correct
    Wrong
  • 2
    Rs.5500
    Correct
    Wrong
  • 3
    Rs.5000
    Correct
    Wrong
  • 4
    Rs.5200
    Correct
    Wrong
  • 5
    Rs.4500
    Correct
    Wrong
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Answer : 3. "Rs.5000 "

Q:

What is compound interest accrued on an amount of Rs 45000 in 2 yr @ 9% per annum ? 

1583 0

  • 1
    Rs 8600
    Correct
    Wrong
  • 2
    Rs 8565.40
    Correct
    Wrong
  • 3
    Rs 8464.50
    Correct
    Wrong
  • 4
    Rs 8540
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "Rs 8464.50"

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