Compound Interest Practice Question and Answer

Q:

A sum of money doubles itself at compound interest in 15 years. In how many years it  will become eight times?

1020 0

  • 1
    30 year
    Correct
    Wrong
  • 2
    45 year
    Correct
    Wrong
  • 3
    50 year
    Correct
    Wrong
  • 4
    60 year
    Correct
    Wrong
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Answer : 2. "45 year"

Q:

A man invested a certain sum in scheme A at 15% p.a. for 2 years and earned Rs 1950 as simple interest. He increased his sum by Rs. ‘x’ and invested in another scheme B at 10% p.a. C.I. for 2 years and received Rs. 1680 as compound interest. Find the value of ‘x’. 

1015 0

  • 1
    Rs. 1750
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1250
    Correct
    Wrong
  • 4
    Rs. 1850
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. " Rs. 1500"

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 

1003 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:

The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is:

995 0

  • 1
    Rs. 2980
    Correct
    Wrong
  • 2
    Rs. 3091
    Correct
    Wrong
  • 3
    Rs. 3109
    Correct
    Wrong
  • 4
    Rs. 3100
    Correct
    Wrong
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Answer : 3. "Rs. 3109 "

Q:

If the difference between the compound and simple interest on a certain sum of money for 3 years at 5 % per annum is Rs. 15.25, then the sum is 

987 0

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

Q:

A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in

979 0

  • 1
    45 years
    Correct
    Wrong
  • 2
    48 years
    Correct
    Wrong
  • 3
    54 years
    Correct
    Wrong
  • 4
    60 years
    Correct
    Wrong
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Answer : 1. "45 years "

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

974 2

  • 1
    ₹2900
    Correct
    Wrong
  • 2
    ₹2200
    Correct
    Wrong
  • 3
    ₹2400
    Correct
    Wrong
  • 4
    ₹3100
    Correct
    Wrong
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Answer : 3. "₹2400"

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