Compound interest questions Practice Question and Answer
8 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?
1025 05fc475cda5adbb0808cff29c
5fc475cda5adbb0808cff29c- 1Rs.7280false
- 2Rs.7290true
- 3Rs.7270false
- 4Rs.7920false
- Show Answer
- Workspace
- SingleChoice
Answer : 2. "Rs.7290"
Q: A sum borrowed under compound interest doubles itself in 10 years. When will it become fourfold of itself at the same rate of interest?
1013 0605af466c5c99d2cb7f43d52
605af466c5c99d2cb7f43d52- 115 yearsfalse
- 220 yearstrue
- 324 yearsfalse
- 440 yearsfalse
- Show Answer
- Workspace
- SingleChoice
Answer : 2. "20 years"
Q: The difference between the simple interest and the compound interest (compounded annually) at the rate of 12% per annum on Rs.5000 for 2 years will be
1010 05ec5f75a0d983803ea4e50aa
5ec5f75a0d983803ea4e50aa- 1Rs.17.50false
- 2Rs.36false
- 3Rs.45false
- 4Rs.72true
- Show Answer
- Workspace
- SingleChoice
Answer : 4. "Rs.72 "
Q: The compound interest on Rs.30,000 at 7% per annum is Rs. 4347. The period (in years) is:
1008 05ecf41f8a7365b2f4ce2021b
5ecf41f8a7365b2f4ce2021b- 12½false
- 23false
- 32true
- 44false
- Show Answer
- Workspace
- SingleChoice
Answer : 3. "2"
Explanation :
We know that
$$ {A=P{(1+{r\over 100}})}^{t}$$
Putting the value we can get answer
Q: The compound interest on a certain sum of money invested for 2 years at 5 % per annum is Rs. 328. The simple interest on the sum, at the same rate and for the same period will be
992 05e205f8fac282f42170f9f0b
5e205f8fac282f42170f9f0b- 1Rs . 320true
- 2Rs . 308false
- 3Rs . 300false
- 4Rs . 287false
- Show Answer
- Workspace
- SingleChoice
Answer : 1. "Rs . 320 "
Q: The compound interest on Rs.16, 000 for 9 months at 20 % per annum, interest being compounded quarterly, is
992 05e268b2257f70c65e284eb0a
5e268b2257f70c65e284eb0a- 1Rs. 2,520false
- 2Rs. 2,524false
- 3Rs. 2,522true
- 4Rs. 2,518false
- Show Answer
- Workspace
- SingleChoice
Answer : 3. "Rs. 2,522 "
Q: On a certain sum of money, the simple interest for 2 years is Rs. 350 at the rate of 4 % per annum. If it was invested at compound interest at the same rate for the same duration as before, how much more interest would be earned?
987 05f16b2c6cf79540a75392448
5f16b2c6cf79540a75392448- 1Rs. 14false
- 2Rs. 35false
- 3Rs. 3.50false
- 4Rs. 7true
- Show Answer
- Workspace
- SingleChoice
Answer : 4. "Rs. 7 "
Q: Find the compound interest on a sum of Rs. 46875 for 2 years at 12% p.a, if interest is compounded 8 months?
985 0602e40f06d461f66398818f5
602e40f06d461f66398818f5- 114174false
- 210174false
- 312174true
- 413174false
- Show Answer
- Workspace
- SingleChoice