Compound interest questions Practice Question and Answer
8 Q: A money-lender borrows money at 4% per annum and pays the interest at the end of the year. He lends it at 6% per annum compound interest compounded half yearly and receives the interest at the end of the year. In this way; he ghins Rs. 104.50 a year. The amount of money he borrows, is:
484 0643e75be72ca731a993c75bb
643e75be72ca731a993c75bb- 1Rs. 6,000false
- 2Rs. 5,500false
- 3Rs. 5,000true
- 4Rs. 4,500false
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Answer : 3. "Rs. 5,000 "
Q: A man buys a scooter on making a cash down payment of Rs. 16224 and promises to pay two more yearly installments of equivalent amount in next two years. If the rate of interest is 4% per annum, compounded. yearly, the cash value of the 50 scooter, is:
568 0643e750e2d621da1169a25d3
643e750e2d621da1169a25d3- 1Rs. 40000false
- 2Rs. 46824true
- 3Rs. 46000false
- 4Rs. 50000false
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Answer : 2. "Rs. 46824 "
Q: A sum of Rs. 6,000 is deposited for 3 years at 5% per annuam compound interest (compoun- ded annually). The difference of interests for 3 and 2 years will be:
463 0643e74381ce944a93eaca518
643e74381ce944a93eaca518- 1Rs. 75.00false
- 2Rs. 30.75false
- 3Rs. 330.75true
- 4Rs. 375.00false
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Answer : 3. "Rs. 330.75 "
Q: The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is:
488 0643e730b01d99786d0f0b1ee
643e730b01d99786d0f0b1ee- 1Rs. 2980false
- 2Rs. 3091false
- 3Rs. 3109true
- 4Rs. 3100false
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Answer : 3. "Rs. 3109 "
Q: At what rate per annum will Rs. 32000 yield a compound interest of Rs. 5044 in 9 months interest being compounded quarterly?
497 0643e72c832185cce37427733
643e72c832185cce37427733- 120%true
- 232%false
- 350%false
- 480%false
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Answer : 1. "20% "
Q: A borrows an amount of ₹3,600 from B at a rate of 20% simple interest for 2 years and lends 75% of this amount to C at 20% compound interest for 2 years. A uses the remaining amount for his personal purpose. Find the total loss incurred by A.
535 06430109b32185cce37265188
6430109b32185cce37265188- 1₹ 928false
- 2₹ 852false
- 3₹ 1152true
- 4₹1024false
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Answer : 3. "₹ 1152"
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.
631 06426e1f67ac9a186e4dea0f5
6426e1f67ac9a186e4dea0f5- 110%false
- 28%false
- 312%true
- 45%false
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Answer : 3. "12%"
Q: ₹12,000 is lent for one year t the rate of 15% per annum, the interest being compounded annually. If the compounding of the interest is done half- yearly, then how much more interest will be obtained at the end of the one-year period on the same initial sum?
583 06426db149d18d2e8ae1df1f9
6426db149d18d2e8ae1df1f9- 1₹72.5false
- 2₹82.8false
- 3₹60.5false
- 4₹67.5true
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