Compound interest questions Practice Question and Answer

Q:

On a certain sum of money, the difference between the compound interest for a year, payable half yearly, and the simple interest for a year is Rs. 56.If the rate of interest in both the cases is 16 %, then the sum is 

916 0

  • 1
    Rs. 8750
    Correct
    Wrong
  • 2
    Rs. 5780
    Correct
    Wrong
  • 3
    Rs. 1080
    Correct
    Wrong
  • 4
    Rs. 7805
    Correct
    Wrong
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Answer : 1. "Rs. 8750"

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Answer : 1. "5000 "

Q:

Rashid borrowed Rs.15000 at the rate of 10% p.a. rate of compound interest, compound annually. He repaid a certain amount at the end of the first. Then he paid Rs. 12100 at the end of the 2nd year to completely discharge the loan. What amount did he repay at the end of 1st year?

1303 0

  • 1
    4500
    Correct
    Wrong
  • 2
    5500
    Correct
    Wrong
  • 3
    6500
    Correct
    Wrong
  • 4
    5800
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "5500"

Q:

What would be the compound interest accrued on an amount of Rs.7850 at the rate of 14% per annum in two years?

1112 1

  • 1
    Rs.2351.86
    Correct
    Wrong
  • 2
    Rs.2880.37
    Correct
    Wrong
  • 3
    Rs.2518.22
    Correct
    Wrong
  • 4
    Rs.2290.23
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs.2351.86 "

Q:

A certain sum increases by 50 % in 5 years. Three sums x, y and z are lent for 10, 15 and 20 years respectively. If amount on each sum is equal, then find the ratio of x, y and z. 

1048 0

  • 1
    6 : 5 : 4
    Correct
    Wrong
  • 2
    9 : 4 : 6
    Correct
    Wrong
  • 3
    9 : 6 : 5
    Correct
    Wrong
  • 4
    9 : 6 : 4
    Correct
    Wrong
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Answer : 4. "9 : 6 : 4 "

Q:

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

4435 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:

A person lent certain sum of money at 5% per annum simple interest and in 15 years the interest amounted to Rs 250 less than the sum lent. What was the sum lent (in Rs)?

922 0

  • 1
    1500
    Correct
    Wrong
  • 2
    1000
    Correct
    Wrong
  • 3
    3000
    Correct
    Wrong
  • 4
    2000
    Correct
    Wrong
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Answer : 2. "1000"

Q:

The simple and compound interest that can be earned in two years at the same rate is Rs 1500 and Rs 1575 respectively. What is the rate (% per annum) of interest?

1022 0

  • 1
    12.5%
    Correct
    Wrong
  • 2
    20%
    Correct
    Wrong
  • 3
    10%
    Correct
    Wrong
  • 4
    5%
    Correct
    Wrong
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Answer : 3. "10% "

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