Compound Interest Quizzes Post published:March 26, 2020 Post category:Aptitude Quizzes Post comments:0 Comments 0% 0 votes, 0 avg 15 See time here Aptitude Quizzes Compound Interest Quiz 1Total Questions: 10Time: 10 minutes 1 / 10 Category: Compound Interest QuestionsIf the difference between Simple Interest and Compound Interest on a sum of money for 3 years is Rs. 200 and the rate of interest is 10%, what is the sum? Rs. 6451.6 Rs. 6151.6 Rs. 6351.6 Rs. 6251.6 Explanation:If the difference between C.I. and S.I. on a certain sum for 3 years at rate of interest r% is Rs. X, then the sum is given by;Sum = We have;X = Rs. 200r = 10%Therefore, sum = 2 / 10 Category: Compound Interest QuestionsThe compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is: Rs. 400 Rs. 600 Rs. 800 Rs. 500 Explanation:Let the sum be Rs. P.Then,P1 +102- P= 525100P112- 1= 52510 P =525 x 100= 2500.21 Sum = Rs . 2500.So, S.I. = Rs.2500 x 5 x 4= Rs. 5001003 / 10 Category: Compound Interest QuestionsThe effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: 6.07% 6.09% 6.08% 6.06% Explanation:Amount of Rs. 100 for 1 yearwhen compounded half-yearly= Rs.100 x1 +32= Rs. 106.09100 Effective rate = (106.09 - 100)% = 6.09%4 / 10 Category: Compound Interest QuestionsOn lending a certain sum of money on C.I. one gets Rs.9050 in 2 years and Rs.9500 in 3 years. What is the rate of interest? 5.5% 4.5% 5% 6% Explanation:Amount after 3 years = Rs. 9500Amount after 2 years = Rs. 9050Interest of one year= 9500 – 9050 = 450t = 1 yearSolution 2: Quicker MethodApply formula; Rate of interest(r): Y= Rs. 9500X = 90505 / 10 Category: Compound Interest QuestionsAt what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years? 7.0% 6.5% 6% 7.5% Explanation:Let the rate be R% p.a.Then, 1200 x1 +R2= 1348.321001 +R2=134832=11236100120000100001 +R2=1062100100 1 +R=106100100 R = 6%6 / 10 Category: Compound Interest QuestionsIn how many years the compound interest on Rs. 10000 at the rate of 10% will be Rs. 2100 ? 2 years 3 years 1.5 years 2.5 years Explanation:Principal = Rs. 10000r = 10%C.I. = Rs. 21007 / 10 Category: Compound Interest QuestionsRamesh borrowed Rs. 3600 at a certain rate of interest C.I. and the sum grows to Rs. 4624 in 2 years. What is the rate of interest? 14.3% 12.3% 13.3% 15.3% Explanation:Principal = Rs. 3600Amount = Rs. 4624t = 2 yearsWe have;8 / 10 Category: Compound Interest QuestionsThe difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is: Rs. 2.50 Rs. 3 Rs. 3.75 Rs. 4 Answer: Option BExplanation:S.I. = Rs1200 x 10 x 1= Rs. 120.100C.I. = Rs.1200 x1 +52- 1200= Rs. 123.100 Difference = Rs. (123 - 120) = Rs. 3.9 / 10 Category: Compound Interest QuestionsThe difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum? 7 12 8 10 Explanation:15000 x1 +R2- 15000-15000 x R x 2= 96100100 150001 +R2- 1 -2R= 96100100 15000(100 + R)2 - 10000 - (200 x R)= 9610000 R2 =96 x 2= 643 R = 8. Rate = 8%.10 / 10 Category: Compound Interest QuestionsThe difference between Simple Interest and Compound Interest on a certain sum of money for 2 years is Rs.200. If the rate of interest is 12 %, what is the sum? Rs. 12000 Rs. 13000 Rs. 11800 Rs. 12800 Explanation:If the difference between the C.I. and S.I. on a certain sum of money for 2 years at rate of interest r % is Rs. X, then the sum is given by;Sum = XWe have;X = Rs. 200t = 2 yearsr = 12 Therefore, Sum = 200 = 200 * = 200 * * = 200 * 64= Rs. 12800 (Option C) NameEmail Your score isThe average score is 31% LinkedIn Facebook Twitter VKontakte 0% Restart quiz Exit Satisfied with our quiz?Leave us a review Send feedback Pages: 1 2 3 4 Share on: Share this content Opens in a new window Opens in a new window Opens in a new window Opens in a new window You Might Also Like Number Quizzes March 26, 2020 Boat and Stream Quizzes March 26, 2020 Pie Chart Quizzes March 30, 2020Leave a Reply Cancel replyCommentEnter your name or username to commentEnter your email address to commentEnter your website URL (optional) Save my name, email, and website in this browser for the next time I comment.