Compound interest questions Practice Question and Answer

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. 

1174 0

  • 1
    6
    Correct
    Wrong
  • 2
    8
    Correct
    Wrong
  • 3
    2
    Correct
    Wrong
  • 4
    4
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "4 "

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.

1103 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
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "Either II or III are sufficient"

Q: If rate of interest is 2% more, the amount will exceed Rs. 60 for one year, find the principal? 1099 0

  • 1
    300
    Correct
    Wrong
  • 2
    3,000
    Correct
    Wrong
  • 3
    6,000
    Correct
    Wrong
  • 4
    4,000
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

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?

1094 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
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "Rs.2351.86 "

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 

1090 0

  • 1
    8%
    Correct
    Wrong
  • 2
    10%
    Correct
    Wrong
  • 3
    11%
    Correct
    Wrong
  • 4
    12%
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "10% "

Q:

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

1085 0

  • 1
    Rs 1500
    Correct
    Wrong
  • 2
    Rs. 1200
    Correct
    Wrong
  • 3
    Rs. 1100
    Correct
    Wrong
  • 4
    Rs. 1000
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "Rs. 1000"

Q:

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

1071 0

  • 1
    5%
    Correct
    Wrong
  • 2
    33%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    8%
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 3. "10% "

Q:

A certain amount of money earns ₹ 540 as simple interest in 3 years. If it earns compound interest of ₹ 376.20 at the same rate of interest in 2 years, find the principal (in Rupees). 

1071 0

  • 1
    2100
    Correct
    Wrong
  • 2
    2000
    Correct
    Wrong
  • 3
    1600
    Correct
    Wrong
  • 4
    1800
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "2000 "

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully