Compound interest questions Practice Question and Answer
8 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 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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Answer : 4. "₹1,134"
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: A sum of money doubles itself at compound interest in 15 years. In how many years it will become eight times?
829 05efeab3e9bfe193cd14b6fc6
5efeab3e9bfe193cd14b6fc6- 130 yearfalse
- 245 yeartrue
- 350 yearfalse
- 460 yearfalse
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Answer : 2. "45 year"
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:
823 06058652c19447609ff02ecc1
6058652c19447609ff02ecc1- 1Rs. 200false
- 2Rs. 50false
- 3Rs. 150false
- 4Rs. 100true
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Answer : 4. "Rs. 100"
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-
815 0609a66824587a93a1dc85718
609a66824587a93a1dc85718- 1Rs. 350false
- 2Rs. 405false
- 3Rs. 400true
- 4Rs. 300false
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Answer : 3. "Rs. 400"
Q: Rachit invests ₹12,000 for a 2-year period at a certain rate of simple interest per annum. Prasad invests ₹12,000 for a 2- year period at the same rate of interest per annum as Rachit, but in Prasad's case the interest is compounded annually. Find the rate of interest per annum if Prasad receives ₹172.80 more as interest than Rachit at the end of the 2-year period.
814 06426e1f67ac9a186e4dea0f5
6426e1f67ac9a186e4dea0f5- 110%false
- 28%false
- 312%true
- 45%false
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Answer : 3. "12%"
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: 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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