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Compound Interest - Questions and Answers

Practice questions on Compound Interest.

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11. The compound interest on Rs. 3000 at 7% per annum for a certain time is Rs. 4347. The time is:
A. 2 year
B. 2 year
C. 3 years
D. 4 years
Explanation: ANSWER : 2 years
12. The compound interest of Rs. 20480 at 6 �% per annum for 2 years 73 days is:
A. Rs.3000
B. Rs. 3131
C. Rs. 2929
D. Rs. 3636
Explanation: ANSWER : Rs. 2929
13. At what rate of compound interest per annum will a sum of RS. 1200 become Rs. 1348.32 in 2years?
A. 7%
B. 7.5%
C. 6%
D. 6.5%
Explanation: ANSWER : 6%
14. The compound interest on a sum for 2 years is Rs. 832 and the simple interest on the same sum for the same period is Rs.800. The difference between the compound and simple interests for 3 years will be:
A. Rs.48
B. Rs.66.56
C. Rs.98.56
D. none of these
Explanation: ANSWER : Rs.98.56
15. A loan was repaid in two annual instalments of Rs. 112 each. If the rate of interest be 10% per annum compounded annually, the sum borrowed was:
A. Rs.200
B. Rs.210
C. Rs. 217.80
D. RS.280
Explanation: ANSWER : Rs.210
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