Compound Interest Questions

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1. The compound interest on ₹8,000 at 15% per annum for 2 years 4months. Compounded annually is

1. ₹ 3091
2. ₹ 3100
3. ₹ 2980
4. ₹ 3109

View Answer

Answer is d

2. A sum of ₹8,000 will amount to ₹8820 in 2 years if the interest is calculated every. The rate of compound interest is

1. 7%
2. 5%
3. 6%
4. 3%

View Answer

Answer is b

3. A principle of ₹10,000, after 2 years compounded annually, the rate of interest being 10% per annum during the first year and 12% per annum during the second year (in rupees) will amount to

1. ₹ 12320
2. ₹ 11320
3. ₹ 12000
4. ₹ 12500

View Answer

Answer is a

4. Two years ago, the value of my motorbike was ₹62,500. When the value depreciates by 4% every year, now its value is

1. ₹ 57,600
2. ₹ 55,700
3. ₹ 56,700
4. ₹ 57,500

View Answer

Answer is a

5. The compound interest on a sum of money for 2years is ₹615 and the simple interest

1. ₹ 6,000
2. ₹ 9,500
3. ₹ 6,500
4. ₹ 8,000

View Answer

Answer is a

 
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