Compound interest questions Practice Question and Answer

Q: A sum of money at compound interest amounts to thrice itself in three years. In how many years will it be 81 times itself? 1194 0

  • 1
    27
    Correct
    Wrong
  • 2
    9
    Correct
    Wrong
  • 3
    12
    Correct
    Wrong
  • 4
    15
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "12"

Q:

Vijay lent Rs.5000. At what rate percent per annum he lent the money?
Statement I: The difference between the simple interest and compound interest on same money is Rs.60.
Statement II: The simple interest obtained after 4 years is Rs.300.
Statement III: The difference between compound interest and simple interest on Rs.60,000 in 2 years is Rs.1350.

1120 0

  • 1
    Only I and II together are sufficient
    Correct
    Wrong
  • 2
    Either II or III are sufficient
    Correct
    Wrong
  • 3
    Any two of the three are sufficient
    Correct
    Wrong
  • 4
    All three together are needed
    Correct
    Wrong
  • 5
    Even all together are not sufficient
    Correct
    Wrong
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Answer : 2. "Either II or III are sufficient"

Q:

If the compound interest on a certain sum for two consecutive years is Rs.220 and Rs.242, then the rate of interest per annum is 

1119 0

  • 1
    8%
    Correct
    Wrong
  • 2
    10%
    Correct
    Wrong
  • 3
    11%
    Correct
    Wrong
  • 4
    12%
    Correct
    Wrong
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Answer : 2. "10% "

Q: If rate of interest is 2% more, the amount will exceed Rs. 60 for one year, find the principal? 1118 0

  • 1
    300
    Correct
    Wrong
  • 2
    3,000
    Correct
    Wrong
  • 3
    6,000
    Correct
    Wrong
  • 4
    4,000
    Correct
    Wrong
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Answer : 2. "3,000"

Q:

What would be the compound interest accrued on an amount of Rs.7850 at the rate of 14% per annum in two years?

1112 1

  • 1
    Rs.2351.86
    Correct
    Wrong
  • 2
    Rs.2880.37
    Correct
    Wrong
  • 3
    Rs.2518.22
    Correct
    Wrong
  • 4
    Rs.2290.23
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs.2351.86 "

Q:

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

1112 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"

Q:

In 3 years ₹ 3000 amounts to ₹ 3993 at x % compound interest, compounded annually. The value of x is 

1093 0

  • 1
    5%
    Correct
    Wrong
  • 2
    33%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    8%
    Correct
    Wrong
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Answer : 3. "10% "

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Answer : 1. "Rs. 22506"

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