Compound interest questions Practice Question and Answer

Q:

If the difference between the compound and simple interest on a certain sum of money for 3 years at 5 % per annum is Rs. 15.25, then the sum is 

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  • 1
    Rs. 1,500
    Correct
    Wrong
  • 2
    Rs. 2,500
    Correct
    Wrong
  • 3
    Rs. 2,000
    Correct
    Wrong
  • 4
    Rs. 1,000
    Correct
    Wrong
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Answer : 3. "Rs. 2,000 "

Q:

A sum of money doubles itself in 4 years compound interest. It will amount to 8 times itself at the same rate of interest is -

823 0

  • 1
    16 years
    Correct
    Wrong
  • 2
    24 years
    Correct
    Wrong
  • 3
    18 years
    Correct
    Wrong
  • 4
    12 years
    Correct
    Wrong
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Answer : 4. "12 years "

Q:

The difference between the compound and the simple interest on a sum for 2 years at 10 % per annum , when the interest is compounded annually, is Rs.28. If the yearly interest were compounded half yearly, the difference in the two interests will be 

791 0

  • 1
    Rs. 43.41
    Correct
    Wrong
  • 2
    Rs. 43.29
    Correct
    Wrong
  • 3
    Rs. 44
    Correct
    Wrong
  • 4
    Rs. 28.35
    Correct
    Wrong
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Answer : 1. "Rs. 43.41 "

Q:

A man buys a scooter on making a cash down payment of Rs. 16224 and promises to pay two more yearly installments of an equivalent amount in the next two years. If the rate of interest is 4% per annum, compounded yearly, the cash value of the scooter, is 

2438 0

  • 1
    Rs. 46000
    Correct
    Wrong
  • 2
    Rs. 50000
    Correct
    Wrong
  • 3
    Rs. 40000
    Correct
    Wrong
  • 4
    Rs. 46824
    Correct
    Wrong
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Answer : 4. "Rs. 46824 "

Q:

At what percent per annum will Rs. 3000 amounts to Rs. 3993 in 3 years if the interest is compounded annually?  

945 0

  • 1
    11%
    Correct
    Wrong
  • 2
    13%
    Correct
    Wrong
  • 3
    9%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. "10% "

Q:

A sum of money becomes double in 3 years at compound interest compounded annually at the same rate. In how many years will it become four times of itself? 

794 0

  • 1
    6.4 years
    Correct
    Wrong
  • 2
    7.5 years
    Correct
    Wrong
  • 3
    4 years
    Correct
    Wrong
  • 4
    6 years
    Correct
    Wrong
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Answer : 4. "6 years "

Q:

A certain sum amount to Rs.5832 in 2 year at 8% per annum at compound interest, the sum is

2158 0

  • 1
    Rs. 5,800
    Correct
    Wrong
  • 2
    Rs. 5,000
    Correct
    Wrong
  • 3
    Rs. 5,280
    Correct
    Wrong
  • 4
    Rs. 5,400
    Correct
    Wrong
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Answer : 2. "Rs. 5,000"

Q:

A sum of money doubles itself at compound interest in 15 years. In how many years it  will become eight times?

741 0

  • 1
    30 year
    Correct
    Wrong
  • 2
    45 year
    Correct
    Wrong
  • 3
    50 year
    Correct
    Wrong
  • 4
    60 year
    Correct
    Wrong
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Answer : 2. "45 year"

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