Compound interest questions Practice Question and Answer

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:

1420 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:

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?

1409 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:

A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years does the same amount becomes Rs. 8000. 

1397 0

  • 1
    6
    Correct
    Wrong
  • 2
    8
    Correct
    Wrong
  • 3
    2
    Correct
    Wrong
  • 4
    4
    Correct
    Wrong
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Answer : 4. "4 "

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Answer : 1. "Rs. 22506"

Q: A sum of money at compound interest amounts to thrice itself in three years. In how many years will it be 81 times itself? 1379 0

  • 1
    27
    Correct
    Wrong
  • 2
    9
    Correct
    Wrong
  • 3
    12
    Correct
    Wrong
  • 4
    15
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "12"

Q: If rate of interest is 2% more, the amount will exceed Rs. 60 for one year, find the principal? 1378 0

  • 1
    300
    Correct
    Wrong
  • 2
    3,000
    Correct
    Wrong
  • 3
    6,000
    Correct
    Wrong
  • 4
    4,000
    Correct
    Wrong
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Answer : 2. "3,000"

Q:

A sum amounts to ₹ 6480 in 4 years and ₹ 9600 in 8 years when it is compounded annually. Find the sum?

1372 0

  • 1
    4878
    Correct
    Wrong
  • 2
    5438
    Correct
    Wrong
  • 3
    4300
    Correct
    Wrong
  • 4
    4374
    Correct
    Wrong
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Answer : 4. "4374"

Q:

A bank pays half-yearly compound interest at the rate of 5% p.a. . A person deposited Rs 1600 on January 1 and a similar amount on July 1 . Explain how much interest will be paid by the bank at the end of the year.

1369 0

  • 1
    168
    Correct
    Wrong
  • 2
    242
    Correct
    Wrong
  • 3
    115
    Correct
    Wrong
  • 4
    121
    Correct
    Wrong
  • Show Answer
  • Workspace

Answer : 4. "121"

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