Compound interest questions Practice Question and Answer

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 

1206 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 "

Q: What will be compound interest-on, a sum of Rs 1000 at die rate of 10 percent per annum after 5 year? 1204 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 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.

1204 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:

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? 

1201 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:

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:

1198 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:

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:

1197 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, 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? 

1196 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: A sum of money at compound interest amounts to thrice itself in three years. In how many years will it be 81 times itself? 1194 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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