Compound interest questions Practice Question and Answer

Q:

One certain Principal if the Simple interest for two years is Rs 2400 and Compound interest for the two years is Rs 2544, what is the rate of Interest? 

8659 0

  • 1
    12 %
    Correct
    Wrong
  • 2
    6 %
    Correct
    Wrong
  • 3
    24 %
    Correct
    Wrong
  • 4
    18 %
    Correct
    Wrong
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Answer : 1. "12 % "

Q:

A sum of Rs. 6400 amounts to Rs. 6724 at 10% p.a. compounded quarterly. Find the time period.

4441 0

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

Q:

Find the difference of CI and SI on a sum of Rs. 30240 invested for 3 years at rate of interest per annum.

4263 1

  • 1
    Rs. 2500
    Correct
    Wrong
  • 2
    Rs. 2440
    Correct
    Wrong
  • 3
    Rs. 2660
    Correct
    Wrong
  • 4
    Rs. 3120
    Correct
    Wrong
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Answer : 3. "Rs. 2660"

Q:

Rs. 260200 is divided between Ram and Shyam so that the amount that Ram receives in 4 years is the same as that Shyam receives in 6 years. If the interest is compounded annually at the rate of 4% per annum then Ram's share is –

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  • 1
    Rs. 125000
    Correct
    Wrong
  • 2
    Rs. 135200
    Correct
    Wrong
  • 3
    Rs. 152000
    Correct
    Wrong
  • 4
    Rs. 108200
    Correct
    Wrong
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Answer : 2. "Rs. 135200 "

Q:

The simple interest on Rs. 12000 at a certain rate of interest in five years is Rs. 7200. Find the compound interest on the same amount for five years at the same rate of interest.

3643 0

  • 1
    Rs. 3502.80
    Correct
    Wrong
  • 2
    Rs. 3052.40
    Correct
    Wrong
  • 3
    Rs. 3054.80
    Correct
    Wrong
  • 4
    Rs. 3052.80
    Correct
    Wrong
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Answer : 4. "Rs. 3052.80"

Q:

Monica deposited a total of Rs. 10500 with a bank in two different deposit schemes at 10% p.a., interest being compounded annually. As per the schemes, she gets the same amount after 2 years on the first deposit as she gets after 3 years on the second deposit. How much money did she deposit for 3 years?

3507 0

  • 1
    Rs. 4500
    Correct
    Wrong
  • 2
    Rs. 5000
    Correct
    Wrong
  • 3
    Rs. 6500
    Correct
    Wrong
  • 4
    Rs. 7200
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs. 5000"

Q:

A bank offers 15 % compound interest per half-year. A customer deposits Rs 2400 each on 1 January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is –

3410 0

  • 1
    Rs. 2268
    Correct
    Wrong
  • 2
    Rs. 1134
    Correct
    Wrong
  • 3
    Rs. 567
    Correct
    Wrong
  • 4
    Rs. 283
    Correct
    Wrong
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Answer : 2. "Rs. 1134 "

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Answer : 3. "1225"

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