CA Foundation Interest — practice questions

Explore 2 free Interest questions in CA Foundation Mathematics. Open each question or exercise to read its content, reference answers and available explanation.

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Interest questions and exercises with answers

Showing questions 1–2 of 2.

The simple interest on ₹10,000 at 8% per annum for 2 years isRead the answer and worked solution →₹5,000 at 10% per annum compounded annually for 2 years amounts toRead the answer and worked solution →

Worked practice questions

The simple interest on ₹10,000 at 8% per annum for 2 years is

₹1,600
₹1,800
₹2,000
₹800

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Correct answer: A. ₹1,600

We have SI = P·R·T/100. That is SI = 10000·8·2/100. So SI = ₹1,600.

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₹5,000 at 10% per annum compounded annually for 2 years amounts to

₹5,500
₹6,000
₹6,050
₹6,100

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Correct answer: C. ₹6,050

We have A = P(1+r)^t. That is A = 5000·(1.1)². That is A = 5000·1.21. So A = ₹6,050.

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