Compound interest questions Practice Question and Answer

Q:

What is the compound interest on ₹24,000 for 2 years at the rate of 10% per annum, if interest is compounded annually?

600 0

  • 1
    ₹5,280
    Correct
    Wrong
  • 2
    ₹4,820
    Correct
    Wrong
  • 3
    ₹6,080
    Correct
    Wrong
  • 4
    ₹5,040
    Correct
    Wrong
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Answer : 4. "₹5,040"

Q:

There is 40 % increase in an amount in 8 years at simple interest. What will be the compound interest  (in rupees) of Rs 30000 after 2 years at the same rate? 

2260 0

  • 1
    6150
    Correct
    Wrong
  • 2
    7687.5
    Correct
    Wrong
  • 3
    4612.5
    Correct
    Wrong
  • 4
    3075
    Correct
    Wrong
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Answer : 4. "3075 "

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 –

2989 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:

In how many years will be Rs. 2,000 amounts to Rs.2,420 at 10% per annum compound interest ?

990 0

  • 1
    3 years
    Correct
    Wrong
  • 2
    5 years
    Correct
    Wrong
  • 3
    2 years
    Correct
    Wrong
  • 4
    4 years
    Correct
    Wrong
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Answer : 3. "2 years"

Q:

On what sum does the difference between the compound interest and the simple interest for 3 years at 10 % is Rs 31?

1123 0

  • 1
    Rs 1500
    Correct
    Wrong
  • 2
    Rs. 1200
    Correct
    Wrong
  • 3
    Rs. 1100
    Correct
    Wrong
  • 4
    Rs. 1000
    Correct
    Wrong
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Answer : 4. "Rs. 1000"

Q:

A sum of ₹4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is ₹352. The sum lent at 8% is

679 2

  • 1
    ₹2900
    Correct
    Wrong
  • 2
    ₹2200
    Correct
    Wrong
  • 3
    ₹2400
    Correct
    Wrong
  • 4
    ₹3100
    Correct
    Wrong
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Answer : 3. "₹2400"

Q:

₹26100 is divided between Mohan and Shyam so that the interest that Mohan receives in 3 years is the same as that Shyam receives in 6 years. If the interest rate of 4% per annum then Mohan's share is :

820 0

  • 1
    ₹8,500
    Correct
    Wrong
  • 2
    ₹17,400
    Correct
    Wrong
  • 3
    ₹8,700
    Correct
    Wrong
  • 4
    ₹19,000
    Correct
    Wrong
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Answer : 4. "₹19,000"

Q:

What will be the compound interest of Rs 160000 payable half yearly at 10% per annum in 2 years?

633 0

  • 1
    34846
    Correct
    Wrong
  • 2
    34481
    Correct
    Wrong
  • 3
    19448
    Correct
    Wrong
  • 4
    37946
    Correct
    Wrong
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Answer : 2. "34481"

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