Compound Interest Practice Question and Answer

Q:

A sum of money amounts to Rs. 4,840 in 2 years and to Rs. 5,324 in 3 years at compound interest (compounded annually). The rate of interests per annum is

1045 0

  • 1
    10%
    Correct
    Wrong
  • 2
    9%
    Correct
    Wrong
  • 3
    11%
    Correct
    Wrong
  • 4
    8%
    Correct
    Wrong
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Answer : 1. "10% "

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:

773 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:

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

997 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:

At what rate per annum will Rs. 32000 yield a compound interest of Rs. 5044 in 9 months interest being compounded quarterly?

944 0

  • 1
    20%
    Correct
    Wrong
  • 2
    32%
    Correct
    Wrong
  • 3
    50%
    Correct
    Wrong
  • 4
    80%
    Correct
    Wrong
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Answer : 1. "20% "

Q:

A sum invested at a certain rate of interest per annum, compounded annually, amounts to ₹3,600 in 2 years and to ₹6,480 in 4 years. What is the sum invested?

897 0

  • 1
    ₹2500
    Correct
    Wrong
  • 2
    ₹2000
    Correct
    Wrong
  • 3
    ₹2400
    Correct
    Wrong
  • 4
    ₹3600
    Correct
    Wrong
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Answer : 2. "₹2000"

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Answer : 3. "₹ 7.5 "

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.

851 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:

Umesh earns a simple interest of ₹1,600 on a certain sum in two years at the rate of 4% per annum. How much more interest would he have earned if he had invested the same sum at 4% interest per annum, compounded annually?

1113 0

  • 1
    ₹48
    Correct
    Wrong
  • 2
    ₹64
    Correct
    Wrong
  • 3
    ₹32
    Correct
    Wrong
  • 4
    ₹20
    Correct
    Wrong
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Answer : 3. "₹32 "

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