Compound interest questions Practice Question and Answer

Q:

The compound interest on Rs. 1000 at 10% per annum for 3 years in (Rs.) is

585 0

  • 1
    Rs. 1331
    Correct
    Wrong
  • 2
    Rs. 331
    Correct
    Wrong
  • 3
    Rs. 300
    Correct
    Wrong
  • 4
    Rs. 1300
    Correct
    Wrong
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Answer : 2. "Rs. 331"

Q:

What will be the difference between the compound interest and the simple interest on a sum of 1000 for 2 years at 5% per annum?

578 0

  • 1
    2
    Correct
    Wrong
  • 2
    2.5
    Correct
    Wrong
  • 3
    3
    Correct
    Wrong
  • 4
    3.5
    Correct
    Wrong
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Answer : 2. "2.5"

Q:

A certain sum is lent at 4% p.a. for 3 years, 8% p.a. for the next 4 years, and 12% p.a. beyond 7 years. If for a period of 11 years, the simple interest obtained is ₹27,600, then the sum is (in ₹):

578 0

  • 1
    25,000
    Correct
    Wrong
  • 2
    32,000
    Correct
    Wrong
  • 3
    27,000
    Correct
    Wrong
  • 4
    30,000
    Correct
    Wrong
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Answer : 4. "30,000"

Q:

The difference between the compound interest (compounded annually) and simple interest on a sum of money deposited for 2 years at 5% per annum is Rs. 15. What is the sum of money deposited?

571 0

  • 1
    Rs. 6,000
    Correct
    Wrong
  • 2
    Rs. 4,800
    Correct
    Wrong
  • 3
    Rs. 3,600
    Correct
    Wrong
  • 4
    Rs. 2,400
    Correct
    Wrong
  • 5
    Rs. 3,400
    Correct
    Wrong
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Answer : 1. "Rs. 6,000"

Q:

Rs. 10,000 is being compounded at 20% per annum. Calculate the amount after 2 years if the rate of interest is charged half yearly.

566 0

  • 1
    14600
    Correct
    Wrong
  • 2
    12500
    Correct
    Wrong
  • 3
    14642
    Correct
    Wrong
  • 4
    14641
    Correct
    Wrong
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Answer : 4. "14641"

Q:

What will be the compound interest on Rs 10000 for 3 years when the rate of interest is 4% in the first year, 5% in the second year and 6% in the third year?

560 0

  • 1
    1600
    Correct
    Wrong
  • 2
    1625.5
    Correct
    Wrong
  • 3
    1575.2
    Correct
    Wrong
  • 4
    2000
    Correct
    Wrong
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Answer : 3. "1575.2"

Q:

A certain sum of money yields Rs. 1261 as compound interest for 3 years at 5% per annum. The sum is: 

554 0

  • 1
    Rs. 9000
    Correct
    Wrong
  • 2
    Rs. 8400
    Correct
    Wrong
  • 3
    Rs. 7500
    Correct
    Wrong
  • 4
    Rs. 8000
    Correct
    Wrong
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Answer : 4. "Rs. 8000"

Q:

If the present worth of a certain sum due 2 years hence at 10% per annum at a compound interest principal is Rs. 2500, find the amount.

543 0

  • 1
    Rs. 2400
    Correct
    Wrong
  • 2
    Rs. 3025
    Correct
    Wrong
  • 3
    Rs. 2420
    Correct
    Wrong
  • 4
    Rs. 4220
    Correct
    Wrong
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Answer : 1. "Rs. 2400 "

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