Compound interest questions Practice Question and Answer

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? 1989 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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Q:

 A principal of Rs. 6120 becomes Rs. 8330 in 2 years when compounded annually at some rate of interest. How much will be the amount if the same principal was compounded half-yearly?

1988 0

  • 1
    Rs. 8430
    Correct
    Wrong
  • 2
    Rs. 8500
    Correct
    Wrong
  • 3
    Rs. 8300
    Correct
    Wrong
  • 4
    Rs. 8750
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs. 8430"

Q:

Mr. Tiwari invested Rs.25000 in two fixed deposits X and Y offering compound interest at 6% per annum and 8% per annum, respectively. If the total amount of interest accrued in two years through both fixed deposits is Rs.3518, then the amount invested in scheme X is -

1951 0

  • 1
    Rs.12000
    Correct
    Wrong
  • 2
    Rs.13500
    Correct
    Wrong
  • 3
    Rs.15000
    Correct
    Wrong
  • 4
    Rs.16500
    Correct
    Wrong
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Answer : 3. "Rs.15000 "

Q:

Sita deposited Rs . 5,000 at 10 % simple interest for 2 years. How much more money will Sita have in her account at the end of two years. If it is compounded semiannually. 

1881 0

  • 1
    Rs. 77.50
    Correct
    Wrong
  • 2
    Rs. 85.50
    Correct
    Wrong
  • 3
    Rs. 50
    Correct
    Wrong
  • 4
    Rs. 40
    Correct
    Wrong
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Answer : 1. "Rs. 77.50 "

Q: The difference between C.I and S.I is Rs 200 at 5% for 2 years. Find the principal? 1801 2

  • 1
    80,000
    Correct
    Wrong
  • 2
    40,000
    Correct
    Wrong
  • 3
    20,000
    Correct
    Wrong
  • 4
    10,000
    Correct
    Wrong
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Answer : 1. "80,000"
Explanation :

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Q:

B borrows 5,000 from A at 6 % p.a. simple interest and lends it to C at compound interest of 10 % p.a. If B collects the money back from C after 2 years and repays A, the profit made by B in the transaction is 

1777 0

  • 1
    Rs. 1,050
    Correct
    Wrong
  • 2
    Rs. 500
    Correct
    Wrong
  • 3
    Rs. 450
    Correct
    Wrong
  • 4
    Rs. 600
    Correct
    Wrong
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Answer : 3. "Rs. 450 "

Q: The simple interest accrued on an amount of Rs 15,000 at the end of three year is Rs 2,250. What would be the compound interest accrued on the same amount at the same rate in the same period? 1772 0

  • 1
    Rs 8934.6784
    Correct
    Wrong
  • 2
    Rs 8017.5744
    Correct
    Wrong
  • 3
    Rs 7861.8754
    Correct
    Wrong
  • 4
    Cannot be determined
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 5. "None of these"

Q:

If the amount is $$ 3{3\over8}\%  $$ times the sum after 3 years at compound interest compounded annually, then the rate of interest per annum is 

1709 0

  • 1
    25%
    Correct
    Wrong
  • 2
    50%
    Correct
    Wrong
  • 3
    16.66%
    Correct
    Wrong
  • 4
    33.33%
    Correct
    Wrong
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Answer : 2. "50% "

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