Compound interest questions Practice Question and Answer

Q:

If the amount received at the end of 2nd and 3rd year as Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate (in %) of interest? 

1270 0

  • 1
    9
    Correct
    Wrong
  • 2
    4
    Correct
    Wrong
  • 3
    7
    Correct
    Wrong
  • 4
    10
    Correct
    Wrong
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Answer : 4. "10 "

Q: If rate of interest is 2% more, the amount will exceed Rs. 60 for one year, find the principal? 1261 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"

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Answer : 1. "Rs. 22506"

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.

1210 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: Find the difference between SI and CI for three years at 10% per annual rate on Rs 4000 1207 0

  • 1
    Rs 125
    Correct
    Wrong
  • 2
    Rs 126
    Correct
    Wrong
  • 3
    Rs 124
    Correct
    Wrong
  • 4
    Rs 127
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "Rs 124"

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). 

1201 0

  • 1
    2100
    Correct
    Wrong
  • 2
    2000
    Correct
    Wrong
  • 3
    1600
    Correct
    Wrong
  • 4
    1800
    Correct
    Wrong
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Answer : 2. "2000 "

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 

1200 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:

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

1194 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 "

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