Compound interest questions Practice Question and Answer

Q:

The difference between compound interest and simple interest on a sum for 2 year at 20% per annum is Rs 200. If the interest is compounded half yearly, then what is the difference (in Rs) between compound and simple interest for 15 year? 

1232 0

  • 1
    100
    Correct
    Wrong
  • 2
    150
    Correct
    Wrong
  • 3
    50
    Correct
    Wrong
  • 4
    75
    Correct
    Wrong
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Answer : 3. "50"

Q:

Sanjay invested Rs. 48000 in two different parts one at 10% CI (Compounded half yearly) and another one at 15% SI. At the end of the year he received total interest Rs. 5490, then find the amount invested in SI?

1231 0

  • 1
    18000
    Correct
    Wrong
  • 2
    12000
    Correct
    Wrong
  • 3
    22000
    Correct
    Wrong
  • 4
    25000
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "12000"

Q:

A person can buy a refrigerator for Rs.15,850 on cash payment or in installments for every year at 10% p.a for four years compounded annually. What is the approximate annual installment that he should pay?

1215 0

  • 1
    Rs.6000
    Correct
    Wrong
  • 2
    Rs.5500
    Correct
    Wrong
  • 3
    Rs.5000
    Correct
    Wrong
  • 4
    Rs.5200
    Correct
    Wrong
  • 5
    Rs.4500
    Correct
    Wrong
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Answer : 3. "Rs.5000 "

Q: What will be Compound interest on Rs 2000 at 20% per annum rate for 1 year and 6 months, if interest is compounded on half-yearly basis. 1214 0

  • 1
    Rs 665
    Correct
    Wrong
  • 2
    Rs 656
    Correct
    Wrong
  • 3
    Rs 662
    Correct
    Wrong
  • 4
    Rs 663
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "Rs 662"
Explanation :

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Q:

A sum amounts to ₹ 6480 in 4 years and ₹ 9600 in 8 years when it is compounded annually. Find the sum?

1206 0

  • 1
    4878
    Correct
    Wrong
  • 2
    5438
    Correct
    Wrong
  • 3
    4300
    Correct
    Wrong
  • 4
    4374
    Correct
    Wrong
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Answer : 4. "4374"

Q:

A sum of Rs. 2000 at 40% per annum compounded annually. Calculate the interest for the third year at compound interest.

1198 0

  • 1
    1500
    Correct
    Wrong
  • 2
    1600
    Correct
    Wrong
  • 3
    1568
    Correct
    Wrong
  • 4
    1750
    Correct
    Wrong
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Answer : 3. "1568 "

Q:

Sanjana invested Rs. 15000 in SI at the rate of 2x% per annum for two years and the same amount is invested in CI at the same rate of interest if she received Rs.150 more interest than S.I, then find the rate of interest per annum?

1190 0

  • 1
    10 %
    Correct
    Wrong
  • 2
    14 %
    Correct
    Wrong
  • 3
    12 %
    Correct
    Wrong
  • 4
    16 %
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "10 %"

Q:

A sum of money invested at compound interest amounts to Rs. 650 at the end of first year and Rs. 676 at the end of second year. The sum of money is 

1190 0

  • 1
    Rs. 625
    Correct
    Wrong
  • 2
    Rs. 560
    Correct
    Wrong
  • 3
    Rs. 600
    Correct
    Wrong
  • 4
    Rs. 540
    Correct
    Wrong
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Answer : 1. "Rs. 625 "

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