Compound interest questions Practice Question and Answer
8 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
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5f16a5e7cf79540a7538e235- 13 %false
- 25 %true
- 36 %false
- 47 %false
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Answer : 2. "5 % "
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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5f16a4ad97cc6b353bf3c109- 1Rs. 1,500false
- 2Rs. 2,500false
- 3Rs. 2,000true
- 4Rs. 1,000false
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Answer : 3. "Rs. 2,000 "
Q: If the compound interest on a certain sum for 2 years at 4% p.a. is Rs. 102, the simple interest at the same rate of interest for two years would be:
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6058652c19447609ff02ecc1- 1Rs. 200false
- 2Rs. 50false
- 3Rs. 150false
- 4Rs. 100true
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Answer : 4. "Rs. 100"
Q: A sum of money becomes eight times of itself in 3 years at compound interest. The rate of interest per annum is
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5f16a99f97cc6b353bf3deee- 120 %false
- 210 %false
- 3100 %true
- 480 %false
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Answer : 3. "100 % "
Q: What will be the difference between the compound interest and simple interest of 2 years at the rate of 5 percent annual interest at Rs. 4,000?
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5f75a67ef66ef56de84ea9d7- 110true
- 211false
- 320false
- 4100false
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Answer : 1. "10"
Q: The compound interest on a certain sum of money for 2 years at 5% per annum is Rs. 410. The simple interest on the same sum at the same rate and for the same time is-
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609a66824587a93a1dc85718- 1Rs. 350false
- 2Rs. 405false
- 3Rs. 400true
- 4Rs. 300false
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Answer : 3. "Rs. 400"
Q: A person borrows Rs.1,00,000 from a bank at 10% per annum simple interest and clears the debt in five years. If the instalment paid at the end of the first, second, third and fourth years to clear the debt are Rs.10,000, Rs.20,000, Rs.30,000 and Rs.40,000, respectively, what amount should be paid at the end of the fifth year to clear the debt?
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647f312a51bf194753009b4d- 1Rs.40,450false
- 2Rs.36,450false
- 3Rs.39,490true
- 4Rs.38,250false
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Answer : 3. "Rs.39,490 "
Q: Surekha borrowed a sum of money and returned it in two equal annual instalments of ₹5,547 each. If the rate of interest was $$7{1\over 2}\%$$ p.a. compounded yearly, then the total interest paid by her was:
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64b90dc8568e7ff594bdd92c- 1₹1,144false
- 2₹1,096false
- 3₹1,126false
- 4₹1,134true
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