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### Question 1

The compound amount after 3 years on a principal of Rs. x is same as that on a principal of Rs. (1030 - x) after 4 years, then what is x if the rate of interest is 6% p.a. compounded yearly?

### Question 2

What is the difference in compound interest and simple interest on an amount of Rs. 30000 for a period of 2 years if the rate is 5% p.a. compounded annually?

### Question 3

What is the difference in compound interest and simple interest on an amount of Rs. 20000 for a period of 2 years if the rate is 8% p.a. compounded annually?

### Question 4

The difference between compound interest(annual compounding) and simple interest for a period of 2 years is Rs. 8. What is the rate p.a. if principal is Rs. 20000?

**A**

2%.

**B**

4%.

**C**

3%.

**D**

5%.

**Soln.**

**Ans: a**

If d is the difference, r is the rate and P is the principal, then the shortcut formula for the difference between compound and simple interest over a period of 2 years is d = P × $(r/100)^2$. So rate = 100 × $√{d/P}$ = 100 × $√{8/20000}$ = 2%.

### Question 5

What is the amount receivable on Rs. 20000 after 6 months, invested at a rate of 24% compounded quarterly?

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This Blog Post/Article "Compound Interest Quiz Set 020" 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