Compound interest questions Practice Question and Answer

Q:

A bank offers 20% compound interest per half year. A customer deposits Rs 7600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained from interest is –

3233 0

  • 1
    Rs 9727
    Correct
    Wrong
  • 2
    Rs 2432
    Correct
    Wrong
  • 3
    Rs 4864
    Correct
    Wrong
  • 4
    Rs 1216
    Correct
    Wrong
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Answer : 3. "Rs 4864"

Q: What would be the compound interest obtained on an amount of Rs.1250 at the rate of 8 percent per annum after 2 years? 3010 1

  • 1
    Rs.200
    Correct
    Wrong
  • 2
    Rs.208
    Correct
    Wrong
  • 3
    Rs.212
    Correct
    Wrong
  • 4
    Rs.220
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs.208"
Explanation :

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Answer : 3. "40000 "

Q:

Two sums are in the ratio 4:3. Both the sums are lent at 5% per annum and 10% per annum under compound interest for two years. The difference between the interest at the end of two years is Rs. 1540. What was the sum lent at 10% per annum?

2766 0

  • 1
    Rs 16000
    Correct
    Wrong
  • 2
    Rs 21000
    Correct
    Wrong
  • 3
    Rs 15000
    Correct
    Wrong
  • 4
    Rs 28000
    Correct
    Wrong
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Answer : 2. "Rs 21000"

Q:

The simple interest on a certain sum for 2 years at a certain rate of interest is Rs.2000 and compound interest on the same sum, same time and same rate of interest is Rs.2050. Then find the ratio between CI for 2 years and CI for 3 years?

2708 0

  • 1
    820 : 1361
    Correct
    Wrong
  • 2
    820 : 1261
    Correct
    Wrong
  • 3
    1261 : 820
    Correct
    Wrong
  • 4
    1361 : 820
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "820 : 1261"

Q:

A man buys a scooter on making a cash down payment of Rs. 16224 and promises to pay two more yearly installments of an equivalent amount in the next two years. If the rate of interest is 4% per annum, compounded yearly, the cash value of the scooter, is 

2513 0

  • 1
    Rs. 46000
    Correct
    Wrong
  • 2
    Rs. 50000
    Correct
    Wrong
  • 3
    Rs. 40000
    Correct
    Wrong
  • 4
    Rs. 46824
    Correct
    Wrong
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Answer : 4. "Rs. 46824 "

Q:

Find compound interest on Rs. 50000 at 12 % per annum for 6 months, compounded quarterly. 

2497 0

  • 1
    Rs.3045 / ₹ 3045
    Correct
    Wrong
  • 2
    Rs.2875 / ₹ 2875
    Correct
    Wrong
  • 3
    Rs.3125 / ₹3125
    Correct
    Wrong
  • 4
    Rs.2965 / ₹ 2965
    Correct
    Wrong
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Answer : 1. "Rs.3045 / ₹ 3045 "

Q: Mr Amin borrowed a certain sum from Mr Visvas. He borrowed for first 2 year at 8% per annum, for next 3 years at 11% per annum and beyond that at 14% per annum. Mr Amin paid Rs 10,920 as Simple interest in 8 years. Find how much he had borrowed? 2497 0

  • 1
    Rs 12000
    Correct
    Wrong
  • 2
    Rs 15000
    Correct
    Wrong
  • 3
    Rs 14000
    Correct
    Wrong
  • 4
    Data insufficient
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs 12000"
Explanation :

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