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free Online Test Compound Interest Questions and Answers Quiz 3

Description: Free Online Test questions and answers on Compound Interest with explanation for various competitive exams,entrance test. Solved examples with detailed answer test 3

Exercise

"Example is better than precept."
- (Proverb)
1 . A sum money becomes Rs.13,380 after 3 years and Rs.20,070 after 6 years on compound interest. The sum (in Rupees) is :
A.  8800 B.    8890
C.  8920 D.    9040
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2 . The simple interest accrued on a sum of certain principal is – Rs.6500 in eight years at the rate of 13 per cent per year. What would be the compound interest accrued on that principal at the rate of 8 percent per year in 2 years ?
A.  Rs. 1040 B.    Rs. 1020
C.  Rs. 1060 D.    Rs. 1200
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3 . The simple interest accrued on an amount of Rs. 40,000 at the end of three years is Rs. 12,000. What would be the compound interest accrued on the same amount at the same rate in the same period ?
A.  Rs. 18765 B.    Rs. 15350
C.  Rs. 21555 D.    Rs. 13240
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4 . The compound interest accrued on an amount of Rs.22.000 at the end of two years is Rs.5,596.8. What would be the simple interest accrued on the same amount at the same rate in the same period ?
A.  Rs. 5420 B.    Rs. 5360
C.  Rs. 5280 D.    Rs. 5140
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5 . Mr. Duggal invested Rs.20,000 with rate of interest at 20 p.c.p.a. The interest was compounded half yearly for first year and in the next year it was compounded yearly. What will be the total interest earned at the end of two years?
A.  Rs.8800 B.    Rs.9040
C.  Rs.8040 D.    Rs.9800
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