Compound interest questions Practice Question and Answer

Q:

A bank pays half-yearly compound interest at the rate of 5% p.a. . A person deposited Rs 1600 on January 1 and a similar amount on July 1 . Explain how much interest will be paid by the bank at the end of the year.

1187 0

  • 1
    168
    Correct
    Wrong
  • 2
    242
    Correct
    Wrong
  • 3
    115
    Correct
    Wrong
  • 4
    121
    Correct
    Wrong
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Answer : 4. "121"

Q: What will be compound interest-on, a sum of Rs 1000 at die rate of 10 percent per annum after 5 year? 1186 0

  • 1
    Rs 610.51
    Correct
    Wrong
  • 2
    Rs 559.45
    Correct
    Wrong
  • 3
    Rs 665.50
    Correct
    Wrong
  • 4
    Rs 665.51
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "Rs 610.51"
Explanation :

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Q:

A sum of money amounted to Rs.720 in 2 years and Rs.792 in 3 years when interest is compounded annually. The annual rate of interest , (in%) is:

1185 0

  • 1
    5%
    Correct
    Wrong
  • 2
    7.50%
    Correct
    Wrong
  • 3
    7%
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 4. " 10%"

Q:

If the amount received at the end of 2nd and 3rd year as Compound Interest on a certain Principal is Rs 24200, and Rs 26620 respectively, what is the rate (in %) of interest? 

1185 0

  • 1
    9
    Correct
    Wrong
  • 2
    4
    Correct
    Wrong
  • 3
    7
    Correct
    Wrong
  • 4
    10
    Correct
    Wrong
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Answer : 4. "10 "

Q:

What will be compound interest on a sum of Rs. 1000 at the rate of interest 10% after 5 years?

1184 0

  • 1
    Rs. 610.51
    Correct
    Wrong
  • 2
    Rs. 559.45
    Correct
    Wrong
  • 3
    Rs. 665.50
    Correct
    Wrong
  • 4
    Rs. 665.51
    Correct
    Wrong
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Answer : 1. "Rs. 610.51"

Q:

A, B and C invested amounts in the ratio 3 : 4 : 5 respectively. If the schemes offered compound at the rate of 20 % per annum, 15 % per annum and 10 % per annum respectively, then what will be the ratio of their amounts after 1 year? 

1181 0

  • 1
    36:46:55
    Correct
    Wrong
  • 2
    12:23:11
    Correct
    Wrong
  • 3
    3:15:25
    Correct
    Wrong
  • 4
    6 : 6 : 5
    Correct
    Wrong
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Answer : 1. "36:46:55 "

Q:

2,40,000 is taken as loan for three years compounded annually at 12.5 % p.a. At the end of first year, the interest is revised to 12 % p.a. The total amount to be repaid at the end of third year is:

1179 0

  • 1
    ₹ 3,38,688
    Correct
    Wrong
  • 2
    ₹ 3,42,648
    Correct
    Wrong
  • 3
    ₹ 3,26,400
    Correct
    Wrong
  • 4
    ₹ 3,34,800
    Correct
    Wrong
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Answer : 4. "₹ 3,34,800 "

Q: A sum of money at compound interest amounts to thrice itself in three years. In how many years will it be 81 times itself? 1178 0

  • 1
    27
    Correct
    Wrong
  • 2
    9
    Correct
    Wrong
  • 3
    12
    Correct
    Wrong
  • 4
    15
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "12"

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