Compound Interest Practice Question and Answer

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? 

1606 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?

1603 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 ? 

1600 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"

Q: What will be compound interest-on, a sum of Rs 1000 at die rate of 10 percent per annum after 5 year? 1599 0

  • 1
    Rs 610.51
    Correct
    Wrong
  • 2
    Rs 559.45
    Correct
    Wrong
  • 3
    Rs 665.50
    Correct
    Wrong
  • 4
    Rs 665.51
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs 610.51"
Explanation :

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Q:

A sum of money placed at compound interest triples itself in 9 year. In how many years will if amount to 243 times itself?

1591 0

  • 1
    27 years
    Correct
    Wrong
  • 2
    36 years
    Correct
    Wrong
  • 3
    45 years
    Correct
    Wrong
  • 4
    54 years
    Correct
    Wrong
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Answer : 3. "45 years"

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. 

1580 0

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

Q:

What will be compound interest on a sum of Rs. 1000 at the rate of interest 10% after 5 years?

1578 0

  • 1
    Rs. 610.51
    Correct
    Wrong
  • 2
    Rs. 559.45
    Correct
    Wrong
  • 3
    Rs. 665.50
    Correct
    Wrong
  • 4
    Rs. 665.51
    Correct
    Wrong
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Answer : 1. "Rs. 610.51"

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Answer : 1. "Rs. 22506"

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