Compound interest questions Practice Question and Answer

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"

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 

860 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:

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:

859 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:

In how many years will Rs 2000 become Rs 2420 at 10 percent compound annual interest?

857 0

  • 1
    3
    Correct
    Wrong
  • 2
    Correct
    Wrong
  • 3
    2
    Correct
    Wrong
  • 4
    Correct
    Wrong
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Answer : 3. "2"

Q:

What is compound interest on a sum of Rs. 37,500 for years at a rate of 12 % per year. If the interest is compounded 8 monthly?

856 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:

What will be the compound interest (compounded annually) of 3 years at the rate of 12.5 percent on an amount of Rs. 5120?

855 0

  • 1
    2280 Rupees
    Correct
    Wrong
  • 2
    1960 Rupees
    Correct
    Wrong
  • 3
    2170 Rupees
    Correct
    Wrong
  • 4
    2120 Rupees
    Correct
    Wrong
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Answer : 3. "2170 Rupees "

Q:

Anu invested Rs. 15000 at the rate of interest 10% p.a. for one year. If the compound interest is compounded at every six months, what amount will Anu get at the end of the year?

833 0

  • 1
    Rs. 16525.50
    Correct
    Wrong
  • 2
    Rs. 18150
    Correct
    Wrong
  • 3
    Rs. 16537.50
    Correct
    Wrong
  • 4
    Rs. 16500
    Correct
    Wrong
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Answer : 3. "Rs. 16537.50"

Q:

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

827 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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