A sum of money amounts to Rs. 10404 in 2 years at 2% compound interest. Find the sum. MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on Rs. 4200 for 2 years at 5% is:
Correct Answer: Option B
Explanation:
D = 4200 × 0.0025 = Rs. 10.50.
D = 4200 × 0.0025 = Rs. 10.50.
This question belongs to:
Maths
Compound Interest
Question #2
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A sum of money invested at compound interest doubles itself in 13 years. In how many years will it become 4 times of itself?
Correct Answer: Option D
Explanation:
The sum doubles (2^1) in 13 years. It will become 4 (2^2) times in 2 * 13 = 26 years.
The sum doubles (2^1) in 13 years. It will become 4 (2^2) times in 2 * 13 = 26 years.
This question belongs to:
Maths
Compound Interest
Question #3
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A sum of money at compound interest becomes 6 times in 3 years. In how many years will it become 36 times?
Correct Answer: Option B
Explanation:
36 = 6², so 3 × 2 = 6 years.
36 = 6², so 3 × 2 = 6 years.
This question belongs to:
Maths
Compound Interest
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