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free Online Test Compound Interest Questions and Answers Quiz 2

Description: Free Online Test questions and answers on Compound Interest with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 2

Exercise

"Success has many fathers, while failure is an orphan."
- (Proverb)
1 . The difference between the amount of compound interest and simple interest accured on an amount of Rs.26,000 at the end of 3 years is Rs.2994.134 What is the rate of interest p.c.p.a. ?
A.  22 B.    17
C.  19 D.    cannot be determined
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2 . The simple interest accrued on a sum of certain principal is Rs.2,000 in five years at the rate of 4 p.c.p.a. What would be the compound interest accrued on same principal at same rate in two years ?
A.  Rs. 716 B.    Rs. 724
C.  Rs. 824 D.    Rs. 816
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3 . Pamela invested an amount of Rs. 35,000 for two years at the rate of 5 p.c.p.a. What amount of compound interest would she receive at the end of two years ?
A.  Rs. 3587.50 B.    Rs. 3500
C.  Rs. 3580.50 D.    Rs. 3565.50
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4 . What will be the approximate difference in the simple and compound interest accrued on an amount of Rs.2600 at the rate of 15 p.c.p.a. at the end of three years ?
A.  Rs.184 B.    Rs. 194
C.  Rs. 167 D.    Rs. 177
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5 . A man gets a simple interest of Rs.1,000 on a certain principal at the rate of 5 p.c.p.a. in years. What compound interest will the man get on twice the principal in two years at the same rate ?
A.  Rs. 1050 B.    Rs. 1005
C.  Rs. 11025 D.    None of these
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6 . Sonika invested an amount of Rs.5,800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.5 at the end of two years ?
A.  5% B.    4%
C.  6% D.    8%
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7 . What would be the compound interest accrued on an amount of Rs. 45,400 at the end of two years at the ratio of 15 p.c.p.a. ?
A.  Rs.16411.5 B.    Rs.14461.5
C.  Rs.16461.5 D.    Rs. 14641.5
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8 . What would be the compound interest accrued on an amount of Rs.7,400 at the rate of 13.5 p.c.p.a at the end of two years? (rounded off to two digits after decimal)
A.  Rs. 2136.87 B.    Rs.2306.81
C.  Rs.2032.18 D.    Rs.2132.87
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9 . The simple interest accrued on an amount of 27,500 at the end of three years is Rs.10,230. what would be the approximate compound interest accrued on the same amount at the same rate in the same period ?
A.  Rs.11550 B.    Rs.12620
C.  Rs.10950 D.    Rs.11900
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10 . The compound interest (in Rupees) on `5,600 for 1 $1\over 2$ years at 10% per annum, compounded annually, is
A.  882.70 B.    873.50
C.  868 D.    840
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