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Compound Interest - Questions and Answers

Practice questions on Compound Interest.

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1. A sum is invested at compound interest payable annually. The interest in two successive years was Rs. 500 and Rs. 540. The sum is:
A. Rs. 3750
B. RS. 5000
C. RS. 5600
D. Rs. 6250
Explanation: ANSWER : RS.6250
2. If the compound interest on a certain sum for 2 years at 12.5% per annum is RS. 170, the simple interest is:
A. RS. 150
B. RS. 152.50
C. RS. 160
D. RS. 162.50
Explanation: ANSWER : RS. 160
3. The difference between simple interest and the compound interest on Rs. 600 for 1 year at 10% per annum, reckoned half yearly is:
A. Nil
B. Rs. 6.60
C. Rs. 4.40
D. Rs. 1.50
Explanation: ANSWER : Rs. 1.50
4. Simple interest on a sum at 4% per annum for 2 years is Rs. 80. The compound interest on the same sum for the same period is:
A. Rs.81.60
B. Rs.160
C. Rs.1081.60
D. none of these
Explanation: ANSWER : Rs. 81.60
5. The value of machine depreciates every year at the rate at108 on its value at the beginning of that year. If the present value of the machine is Rs. 729, its worth 3 years ago was:
A. Rs. 947.00
B. Rs.800
C. Rs. 1000
D. RS. 750.82
Explanation: ANSWER : Rs.1000
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