Compound Interest Questions and Answers

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Q11
A sum of money at compound interest amounts to thrice itself in 3 years. in how many years will it be 9 times itself?
  • A 12
  • B 9
  • C 6
  • D 8
Answer: Option C
Q12
The present worth Rs. 169 due in 2 years at 4% per annum compound interest is :
  • A Rs. 150.50
  • B Rs. 154.75
  • C Rs. 156.25
  • D Rs. 158
Answer: Option C
Q13
To find out the total compound interest accrued on a sum of money after 5 years, which of the following informations given in the statements A and B is/are sufficient ? A : the rate of interest was 6% per annum B : The total simple interest on the same amount after 5 years at the same rate will be Rs. 600
  • A only A is suficient
  • B Either A and B is sufficient
  • C Both A and B together are needed
  • D only B is sufficient
Answer: Option C
Q14
To find out the total compound interest accured on a sum of money after 5 years, which of the following informations given in the statements P and Q will be sufficient ? P : The sum was Rs. 20000. Q : The total amount of simple interest on the sum after 5 years was Rs. 4000
  • A only P is sufficient
  • B Only Q is sufficient
  • C Either P or Q is sufficient
  • D Both P & Q are needed
Answer: Option D
Q15
The difference between the compound interest and simple interest earned at the end of second year on a sum of money at 10 % per annum is Rs. 20. The sum is :
  • A Rs. 4000
  • B Rs. 2000
  • C Rs. 1500
  • D Data inadequate
Answer: Option B
Q16
A sum of Rs. 12000 deposited at compound interest becomes double after 5 years. After 20 years it will become :
  • A Rs. 120000
  • B Rs. 192000
  • C Rs. 124000
  • D Rs. 96000
Answer: Option B
Q17
The last number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is :
  • A 3
  • B 4
  • C 5
  • D 6
Answer: Option B
Q18
The compound interest on a sum for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs. 800. The difference between the compound interest and the simple interest for 3 years will be :
  • A Rs. 48
  • B Rs. 66.56
  • C Rs. 98.56
  • D Rs. 26.90
Answer: Option A
Q19
A sum of money becomes Rs. 13380 after 3 years and Rs. 20070 after 6 years on compound interest. The sum is :
  • A Rs. 8800
  • B Rs. 8890
  • C Rs. 8920
  • D Rs. 9040
Answer: Option C
Q20
A loan was repaid in two annual instalments of Rs. 121 each. If the rate of interest be 10% per annum, compounded annually, the sum borrowed was :
  • A Rs, 200
  • B Rs. 210
  • C Rs. 217.80
  • D Rs. 216
Answer: Option B
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