Compound interest questions Practice Question and Answer

Q:

A sum becomes Rs. 2916 in 2 years at 8 % per annum compound interest. The simple interest at 9% per annum for 3 years on the same amount will be 

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  • 1
    Rs. 650
    Correct
    Wrong
  • 2
    Rs. 625
    Correct
    Wrong
  • 3
    Rs. 600
    Correct
    Wrong
  • 4
    Rs. 675
    Correct
    Wrong
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Answer : 4. "Rs. 675 "

Q:

An amount of money appreciates to Rs. 7,000 after 4 years and to Rs. 10,000 after 8 years at a certain compound interest compounded annually. The initial amount of money was 

2013 0

  • 1
    Rs. 4100
    Correct
    Wrong
  • 2
    Rs. 4300
    Correct
    Wrong
  • 3
    Rs. 4700
    Correct
    Wrong
  • 4
    Rs . 4900
    Correct
    Wrong
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Answer : 4. "Rs . 4900 "

Q:

A sum of money invested at compound interest amounts to Rs. 650 at the end of first year and Rs. 676 at the end of second year. The sum of money is 

1190 0

  • 1
    Rs. 625
    Correct
    Wrong
  • 2
    Rs. 560
    Correct
    Wrong
  • 3
    Rs. 600
    Correct
    Wrong
  • 4
    Rs. 540
    Correct
    Wrong
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Answer : 1. "Rs. 625 "

Q:

The compound interest on 12000 for 9 months at 20 % per annum , interest being compounded quarterly is 

1014 0

  • 1
    ₹ 2136
    Correct
    Wrong
  • 2
    ₹ 1750
    Correct
    Wrong
  • 3
    ₹ 1891.50
    Correct
    Wrong
  • 4
    ₹ 2089.70
    Correct
    Wrong
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Answer : 3. "₹ 1891.50 "

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? 

841 0

  • 1
    Rs. 14
    Correct
    Wrong
  • 2
    Rs. 35
    Correct
    Wrong
  • 3
    Rs. 3.50
    Correct
    Wrong
  • 4
    Rs. 7
    Correct
    Wrong
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Answer : 4. "Rs. 7 "

Q:

A sum of money becomes eight times of itself in 3 years at compound interest. The rate of interest per annum is 

699 0

  • 1
    20 %
    Correct
    Wrong
  • 2
    10 %
    Correct
    Wrong
  • 3
    100 %
    Correct
    Wrong
  • 4
    80 %
    Correct
    Wrong
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Answer : 3. "100 % "

Q:

A sum of money becomes eight times in 3 years, if the rate is compounded annually. In how much time will the amount at the same compound rate become sixteen times? 

839 0

  • 1
    8 years
    Correct
    Wrong
  • 2
    5 years
    Correct
    Wrong
  • 3
    6 years
    Correct
    Wrong
  • 4
    4 years
    Correct
    Wrong
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Answer : 4. "4 years "

Q:

A sum of Rs. 8000 will amount to Rs. 8820 in 2 years if the interest is calculated every year. The rate of compound interest is 

720 0

  • 1
    3 %
    Correct
    Wrong
  • 2
    5 %
    Correct
    Wrong
  • 3
    6 %
    Correct
    Wrong
  • 4
    7 %
    Correct
    Wrong
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Answer : 2. "5 % "

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