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24.3.2. Compound Interest (CI)
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Practice test
11 questions on this section. Wrong answers show you what to read again.
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Revision test
Mixed questions from across the chapter. Your answers get marked.
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Flashcard drill
3 cards from this lesson. Good the night before a test.
Try these first
- 1.
What does Compound Interest rely on?
Hint
Think about what happens to your total amount over time.
- 2.
Write the formula for Compound Interest.
Hint
What does each letter in the formula represent?
- 3.
What is Compound Interest?
Hint
Think about how investments can grow over time.
- 4.
True or False: Compound Interest is always less than Simple Interest.
Hint
Consider the effects of accumulating interest.
- 5.
An investor put ₹3,000 into a savings account that offers 7% interest compounded quarterly. Determine how much will be in the account after 10 years.
Hint
Remember to convert the interest rate for quarterly compounding.
- 6.
If a company needs ₹25,000 in 5 years, what annual compounding rate do they need if they start with ₹15,000?
Hint
Rearrange the formula to isolate r.
Exercises
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting
4 more questions available
Enrol freeQuiz
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting
1 more question available
Enrol freeChallenge Problems
Total Questions
2
Estimated Time
4 min
Passing Score
70%
Instructions
- Read each question carefully
- You can use hints if you need help
- Complete all questions before submitting