Compound interest questions Practice Question and Answer

Q:

A lent some money from B and paid 1,573 after yr . Also B lent some money from A and paid 1444.50 after 6 months. If they want to settle the account forthwith, keeping 14 % as the rate of interest, then who should pay whom and how much?

882 0

  • 1
    A to B Rs. 28.50
    Correct
    Wrong
  • 2
    B to A Rs. 3750
    Correct
    Wrong
  • 3
    A to B Rs.50
    Correct
    Wrong
  • 4
    B to A Rs.50
    Correct
    Wrong
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Answer : 4. "B to A Rs.50 "

Q:

Mr. Rajesh invested Rs.25000 in two fixed deposits X and Y offering compound interest at 6% per annum and 8% per annum, respectively. If the total amount of interest accrued in two years through both fixed deposits is Rs.3518, then the amount invested in scheme X is -

879 0

  • 1
    Rs.15000
    Correct
    Wrong
  • 2
    Rs.16500
    Correct
    Wrong
  • 3
    Rs.12000
    Correct
    Wrong
  • 4
    Rs.13500
    Correct
    Wrong
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Answer : 1. "Rs.15000 "

Q:

The difference between compound interest and simple interest on a sum of money for 3 years at 8% per annum is Rs. 354.80. Find the sum.

879 0

  • 1
    Rs. 15000
    Correct
    Wrong
  • 2
    Rs. 18000
    Correct
    Wrong
  • 3
    Rs. 32000
    Correct
    Wrong
  • 4
    Rs. 27000
    Correct
    Wrong
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Answer : 2. "Rs. 18000"

Q:

If the compound interest rate is 20%  per year, compounded half-yearly, then what will be the interest of two years on the principal of 1,00,000?

878 0

  • 1
    46,410
    Correct
    Wrong
  • 2
    44,000
    Correct
    Wrong
  • 3
    21,000
    Correct
    Wrong
  • 4
    33,100
    Correct
    Wrong
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Answer : 1. "46,410"

Q:

What is the compound interest on Rs. 48,000 for 2 years at 20% p.a., if interest is compounded annually?

874 0

  • 1
    Rs. 69,120
    Correct
    Wrong
  • 2
    Rs. 21,120
    Correct
    Wrong
  • 3
    Rs. 76,800
    Correct
    Wrong
  • 4
    Rs. 72,000
    Correct
    Wrong
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Answer : 2. "Rs. 21,120"

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? 

871 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:

Find the compound interest to the nearest rupee on Rs. 7500 for 2 years 4 months at 12% p.a reckoned annually?

869 0

  • 1
    2284
    Correct
    Wrong
  • 2
    2176
    Correct
    Wrong
  • 3
    2097
    Correct
    Wrong
  • 4
    2235
    Correct
    Wrong
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Answer : 1. "2284"

Q:

If the difference between the compound interest and simple interest on a certain sum at 5% per annum for 3 years is Rs.11.40, what is the approximate sum? 

861 0

  • 1
    Rs.1475
    Correct
    Wrong
  • 2
    Rs.1585
    Correct
    Wrong
  • 3
    Rs.1485
    Correct
    Wrong
  • 4
    Rs.1495
    Correct
    Wrong
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Answer : 4. "Rs.1495"

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