Correct Answers: | |

Wrong Answers: | |

Unattempted: |

### Question 1

Rs. 808 is divided into parts such that the compound amount on first part after 6 years is same as that for the other part after 7 years. What is the first part if the rate of interest in both the cases is 2%?

### Question 2

What is compound interest on Rs. 90000 after 2 years, invested at a rate of 3% compounded annually?

### Question 3

The compound interest on a certain sum of money at 3% for a period of 2 years is Rs. 5481. What is the SI on this sum if the rate is halved, and time doubled?

**A**

Rs. 5400.

**B**

Rs. 5500.

**C**

Rs. 5300.

**D**

Rs. 5600.

**Soln.**

**Ans: a**

The shortcut formula is CI = Pr(r + 200)/10000. Putting CI = 5481, r = 3, we get 5481 = ${P × 3 × (3 + 200)}/10000$. We can solve it to get P = Rs. 90000. The SI = P × (2 × t) × (r / 200) = P × t × (r / 100). Putting t = 2, r = 3 and P = 90000, we get SI = Rs. 5400.

### Question 4

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 5

What is the difference in compound interest and simple interest on an amount of Rs. 40000 for a period of 2 years if the rate is 7% p.a. compounded annually?

### More Chapters | See All...

Distance and Time | Venn Diagrams | Percentages | Deductive Reasoning | Square and Cube Roots | Logarithms | Clocks and Calendars | Cubes and Dice | Alphabet Number Series | Problems on Trains | More...

This Blog Post/Article "Compound Interest Quiz Set 018" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2019-08-18.