Compound Interest Practice Question and Answer

Q:

₹12,000 is lent for one year t the rate of 15% per annum, the interest being compounded annually. If the compounding of the interest is done half- yearly, then how much more interest will be obtained at the end of the one-year period on the same initial sum?

942 0

  • 1
    ₹72.5
    Correct
    Wrong
  • 2
    ₹82.8
    Correct
    Wrong
  • 3
    ₹60.5
    Correct
    Wrong
  • 4
    ₹67.5
    Correct
    Wrong
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Answer : 4. "₹67.5"

Q:

What is the compound interest on ₹24,000 for 2 years at the rate of 10% per annum, if interest is compounded annually?

883 0

  • 1
    ₹5,280
    Correct
    Wrong
  • 2
    ₹4,820
    Correct
    Wrong
  • 3
    ₹6,080
    Correct
    Wrong
  • 4
    ₹5,040
    Correct
    Wrong
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Answer : 4. "₹5,040"

Q:

There is 40 % increase in an amount in 8 years at simple interest. What will be the compound interest  (in rupees) of Rs 30000 after 2 years at the same rate? 

2603 0

  • 1
    6150
    Correct
    Wrong
  • 2
    7687.5
    Correct
    Wrong
  • 3
    4612.5
    Correct
    Wrong
  • 4
    3075
    Correct
    Wrong
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Answer : 4. "3075 "

Q:

Sanjana invested Rs. 15000 in SI at the rate of 2x% per annum for two years and the same amount is invested in CI at the same rate of interest if she received Rs.150 more interest than S.I, then find the rate of interest per annum?

1108 0

  • 1
    10 %
    Correct
    Wrong
  • 2
    14 %
    Correct
    Wrong
  • 3
    12 %
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. "10 %"

Q:

A bank offers 20% compound interest per half year. A customer deposits Rs 7600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained from interest is –

3571 0

  • 1
    Rs 9727
    Correct
    Wrong
  • 2
    Rs 2432
    Correct
    Wrong
  • 3
    Rs 4864
    Correct
    Wrong
  • 4
    Rs 1216
    Correct
    Wrong
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Answer : 3. "Rs 4864"

Q:

In how many years will be Rs. 2,000 amounts to Rs.2,420 at 10% per annum compound interest ?

1309 0

  • 1
    3 years
    Correct
    Wrong
  • 2
    5 years
    Correct
    Wrong
  • 3
    2 years
    Correct
    Wrong
  • 4
    4 years
    Correct
    Wrong
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Answer : 3. "2 years"

Q:

On what sum does the difference between the compound interest and the simple interest for 3 years at 10 % is Rs 31?

1428 0

  • 1
    Rs 1500
    Correct
    Wrong
  • 2
    Rs. 1200
    Correct
    Wrong
  • 3
    Rs. 1100
    Correct
    Wrong
  • 4
    Rs. 1000
    Correct
    Wrong
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Answer : 4. "Rs. 1000"

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