Compound interest questions Practice Question and Answer

Q:

Mr. Mike borrowed Rs. 8500 at 4 % per annum compound interest. The compound interest compounded annually for 2 yeas is:

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  • 1
    Rs. 9136.6
    Correct
    Wrong
  • 2
    Rs. 639.6
    Correct
    Wrong
  • 3
    Rs. 693.6
    Correct
    Wrong
  • 4
    Rs. 9139.6
    Correct
    Wrong
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Answer : 3. "Rs. 693.6"

Q:

A woman invests Rs. 2000 at the start of each year at 5% compound interest per annum. How much will her investment be at the end of the 2nd year?

946 0

  • 1
    Rs. 4355
    Correct
    Wrong
  • 2
    Rs. 4305
    Correct
    Wrong
  • 3
    Rs. 430
    Correct
    Wrong
  • 4
    Rs. 4350
    Correct
    Wrong
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Answer : 2. "Rs. 4305"

Q:

Mr. Sathya invested money in FD. How much will he get on maturity, if Rs. 14,500 is invested at 20 % per annum compound interest for 6 months, compounded quarterly

922 0

  • 1
    Rs.15, 986
    Correct
    Wrong
  • 2
    Rs.15, 986.5
    Correct
    Wrong
  • 3
    Rs.15, 986.25
    Correct
    Wrong
  • 4
    Rs.15,986.35
    Correct
    Wrong
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Answer : 3. "Rs.15, 986.25"

Q:

A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in

634 0

  • 1
    45 years
    Correct
    Wrong
  • 2
    48 years
    Correct
    Wrong
  • 3
    54 years
    Correct
    Wrong
  • 4
    60 years
    Correct
    Wrong
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Answer : 1. "45 years "

Q:

A sum borrowed under compound interest doubles itself in 10 years. When will it become fourfold of itself at the same rate of interest?

894 0

  • 1
    15 years
    Correct
    Wrong
  • 2
    20 years
    Correct
    Wrong
  • 3
    24 years
    Correct
    Wrong
  • 4
    40 years
    Correct
    Wrong
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Answer : 2. "20 years"

Q:

If the compound interest on a certain sum for 2 years at 4% p.a. is Rs. 102, the simple interest at the same rate of interest for two years would be:

698 0

  • 1
    Rs. 200
    Correct
    Wrong
  • 2
    Rs. 50
    Correct
    Wrong
  • 3
    Rs. 150
    Correct
    Wrong
  • 4
    Rs. 100
    Correct
    Wrong
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Answer : 4. "Rs. 100"

Q:

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

1208 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 5,000 amounts to Rs 7,200 in 8 years at a certain rate percent p.a, interest compounded yearly. What will be the compound interest on a sum of Rs.6,550 in 4 years at the same rate of interest?

968 0

  • 1
    Rs. 1,290
    Correct
    Wrong
  • 2
    Rs.1,310
    Correct
    Wrong
  • 3
    Rs. 1285
    Correct
    Wrong
  • 4
    Rs. 1,415
    Correct
    Wrong
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Answer : 2. "Rs.1,310"

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