A sum amounts to Rs. 2662 in 3 years at 10% compound interest. The sum is: MCQ with Answer and Explanation
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Question #1
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The difference between simple interest and compound interest on a certain sum of money for 2 years at 15% per annum is Rs. 144. Find the sum.
Correct Answer: Option B
Explanation:
Difference for 2 years = P * (R/100)^2 => 144 = P * (15/100)^2 => 144 = P * (225 / 10000) => P = (144 * 10000) / 225 = 1440000 / 225 = Rs. 6400.
Difference for 2 years = P * (R/100)^2 => 144 = P * (15/100)^2 => 144 = P * (225 / 10000) => P = (144 * 10000) / 225 = 1440000 / 225 = Rs. 6400.
This question belongs to:
Maths
Compound Interest
Question #2
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The compound interest on Rs. 8000 at 10% per annum for 1 year compounded half-yearly is:
Correct Answer: Option C
Explanation:
Half-yearly rate 5%, n=2. A = 8000 × (1.05)² = 8000 × 1.1025 = 8820, CI = 8820 − 8000 = Rs. 820.
Half-yearly rate 5%, n=2. A = 8000 × (1.05)² = 8000 × 1.1025 = 8820, CI = 8820 − 8000 = Rs. 820.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 9500 at 8% per annum for 2 years is:
Correct Answer: Option B
Explanation:
A = 9500 × (1.08)² = 9500 × 1.1664 = 11080.80, CI = 11080.80 − 9500 = Rs. 1580.80.
A = 9500 × (1.08)² = 9500 × 1.1664 = 11080.80, CI = 11080.80 − 9500 = Rs. 1580.80.
This question belongs to:
Maths
Compound Interest
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