Compound interest problems Practice Question and Answer

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?

852 0

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

Q:

The interest compounded annually on a sum of Rs. 56000 at a rate of 7% p.a. after 3 years is what percentage of the simple interest on a sum of Rs. 72000 at a rate of 9% p.a. after 5 years?

707 0

  • 1
    32.22%
    Correct
    Wrong
  • 2
    34.44%
    Correct
    Wrong
  • 3
    35.55%
    Correct
    Wrong
  • 4
    37.77%
    Correct
    Wrong
  • 5
    38.88%
    Correct
    Wrong
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Answer : 5. " 38.88%"
Explanation :

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Answer : 3. "₹ 7.5 "

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?

690 0

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

Q:

The lengths of the three sides of a right-angled triangle are (x - 1) cm, (x +1) cm and (x + 3) cm, respectively. The hypotenuse of the right-angled triangle (in cm) is:

669 0

  • 1
    6
    Correct
    Wrong
  • 2
    10
    Correct
    Wrong
  • 3
    12
    Correct
    Wrong
  • 4
    7
    Correct
    Wrong
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Answer : 2. "10"

Q:

A loan is to be returned in two equal yearly instalments. If the rate of interest is 10% p.a., compounded annually, and each instalment is ₹5,808, then the total interest charged in this scheme is:

616 0

  • 1
    ₹1,563
    Correct
    Wrong
  • 2
    ₹1,536
    Correct
    Wrong
  • 3
    ₹1,632
    Correct
    Wrong
  • 4
    ₹1,602
    Correct
    Wrong
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Answer : 2. "₹1,536"

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Answer : 3. "₹1,272"

Q:

The rate of interest for the first 2 years is 6% p.a., for the next 3 years is 10% p.a., and for the period beyond 5 years is 12% p.a. If a person gets ₹12,771 as simple interest after 7 years, then how much money did he invest?

595 0

  • 1
    ₹20,000
    Correct
    Wrong
  • 2
    ₹19,350
    Correct
    Wrong
  • 3
    ₹19,450
    Correct
    Wrong
  • 4
    ₹19,300
    Correct
    Wrong
  • Show Answer
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Answer : 2. "₹19,350"

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