Compound interest questions Practice Question and Answer

Q:

The difference between the compound interest and simple interest on a certain sum at the rate of 5% p.a in 3 years is Rs. 15.25. The sum is:

749 0

  • 1
    Rs. 2000
    Correct
    Wrong
  • 2
    Rs. 1000
    Correct
    Wrong
  • 3
    Rs. 2500
    Correct
    Wrong
  • 4
    Rs. 1500
    Correct
    Wrong
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Answer : 1. "Rs. 2000"

Q:

A sum on compound interest amounts to Rs. 2410 in 3 years and Rs. 2651 in 4 years. Find the sum.

2000 0

  • 1
    Rs. 1216
    Correct
    Wrong
  • 2
    Rs. 1500
    Correct
    Wrong
  • 3
    Rs. 1900
    Correct
    Wrong
  • 4
    Rs. 1600
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 5. "None of these"

Q:

There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

788 0

  • 1
    Rs. 2160
    Correct
    Wrong
  • 2
    Rs. 3120
    Correct
    Wrong
  • 3
    Rs. 3972
    Correct
    Wrong
  • 4
    Rs. 6240
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "Rs. 3972"

Q:

Monica deposited a total of Rs. 10500 with a bank in two different deposit schemes at 10% p.a., interest being compounded annually. As per the schemes, she gets the same amount after 2 years on the first deposit as she gets after 3 years on the second deposit. How much money did she deposit for 3 years?

3469 0

  • 1
    Rs. 4500
    Correct
    Wrong
  • 2
    Rs. 5000
    Correct
    Wrong
  • 3
    Rs. 6500
    Correct
    Wrong
  • 4
    Rs. 7200
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs. 5000"

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Answer : 1. "Rs. 22506"

Q:

A sum of Rs.13,000 is to be paid back in 2 equal annual instalments. How much is each instalment if the interest is compounded annually at 8 % per annum?

884 0

  • 1
    Rs.7280
    Correct
    Wrong
  • 2
    Rs.7290
    Correct
    Wrong
  • 3
    Rs.7270
    Correct
    Wrong
  • 4
    Rs.7920
    Correct
    Wrong
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Answer : 2. "Rs.7290"

Q:

What is compound interest on a sum of Rs. 37,500 for $$ {1{1\over 3}}$$ years at a rate of 12 % per year. If the interest is compounded 8 monthly?

764 0

  • 1
    Rs.6, 420
    Correct
    Wrong
  • 2
    Rs.6, 448
    Correct
    Wrong
  • 3
    Rs.6, 240
    Correct
    Wrong
  • 4
    Rs.6, 440
    Correct
    Wrong
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Answer : 3. "Rs.6, 240"

Q:

In how much time the money of Rs 6400 will be Rs 6561 at the rate of 5 percent annual interest if the compound interest is payable quarterly?

1368 0

  • 1
    6 Month
    Correct
    Wrong
  • 2
    12 Month
    Correct
    Wrong
  • 3
    24 Month
    Correct
    Wrong
  • 4
    18 Month
    Correct
    Wrong
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Answer : 1. "6 Month"

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