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free Online Test Compound Interest Questions and Answers Quiz 1

Description: Free Online Test questions and answers on Compound Interest with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 1

Exercise

 "Life is like riding a bicycle. To keep your balance you must keep moving." - Albert Einstein
1 . The compound interest earned by Suresh on a certain amount at the end of two years at the rate of 8 p.c .p.a was `1,414.4. What was the total amount that Suresh got back at the end of two years in the form of principal plus interest earned ?
 Rs.9,414.4 Rs. 9,914.4 Rs. 9,014.4 Rs. 8,914.4
2 . The compound interest accurued on an amount at the end of three years at 15 p.c.p.a. is Rs.6500.52. What is the amount ?
 Rs. 12480 Rs. 10500 Rs. 14800 Rs. 13620
3 . The simple interest accrued on an amount of Rs.20,000 at the end of three years is Rs. 7,200. What would be the compound interest accrued on the same amount at the same rate in the same period ?
 Rs. 8398.36 Rs. 8098.56 Rs. 8246.16 Rs. 8112.86
4 . Mr. Rao invests a sum of Rs. 41,250 at the rate of 6 p.c.p.a. What approximateamount of compound interest will be obtain at the end of 3 years ?
 Rs. 8100 Rs. 7425 Rs.8210 Rs. 7879
5 . What will be the compound interest on a sum of Rs. 25,000 after three years at the rate of 12 per cent p.a. ?
 Rs. 10123.20 Rs. 9000.30 Rs. 10483.20 Rs. 9720
6 . Sudharshan invested Rs.15,000 at interest @ 10 p.c.p.a. for one year. If the interest is compounded every six months what amount will Sudharshan get at the end of the years?
 Rs. 16537.50 Rs. 16500 Rs. 16525.50 Rs. 18150
7 . The difference between the simple interest on a certain sum at rate of 10% per annum for 2 years and compound interest which is compounded every 6 months is Rs. 124.05. What is the principal sum?
 Rs. 10000 Rs. 6000 Rs. 12000 Rs. 8000