Correct Answers: | |

Wrong Answers: | |

Unattempted: |

### Question 1

The compound interest on a certain sum of money at 5% for a period of 2 years is Rs. 3075. What is the SI on this sum if the rate is halved, and time doubled?

**A**

Rs. 3000.

**B**

Rs. 3100.

**C**

Rs. 2900.

**D**

Rs. 3200.

**Soln.**

**Ans: a**

The shortcut formula is CI = Pr(r + 200)/10000. Putting CI = 3075, r = 5, we get 3075 = ${P × 5 × (5 + 200)}/10000$. We can solve it to get P = Rs. 30000. The SI = P × (2 × t) × (r / 200) = P × t × (r / 100). Putting t = 2, r = 5 and P = 30000, we get SI = Rs. 3000.

### Question 2

The compound amount after 2 years on a principal of Rs. P is same as that on a principal of Rs. (606 - P) after 3 years, then what is P if the rate of interest is 2% p.a. compounded yearly?

### Question 3

The compound interest on a certain sum of money at 6% for a period of 2 years is Rs. 7416. What is the SI on this sum if the rate is halved, and time doubled?

**A**

Rs. 7200.

**B**

Rs. 7300.

**C**

Rs. 7100.

**D**

Rs. 7400.

**Soln.**

**Ans: a**

The shortcut formula is CI = Pr(r + 200)/10000. Putting CI = 7416, r = 6, we get 7416 = ${P × 6 × (6 + 200)}/10000$. We can solve it to get P = Rs. 60000. The SI = P × (2 × t) × (r / 200) = P × t × (r / 100). Putting t = 2, r = 6 and P = 60000, we get SI = Rs. 7200.

### Question 4

How much interest does an amount of Rs. 30000 earn @9% compounded annually for 2 years?

### Question 5

How much interest does an amount of Rs. 9000000 earn @8% compounded annually for 3 years?

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This Blog Post/Article "Compound Interest Quiz Set 016" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2020-02-07. Published on: 2016-04-30