At what rate percent compound interest will Rs. 5000 amount to Rs. 5618 in 2 years? MCQ with Answer and Explanation
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Question #1
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At what rate percent compound interest will Rs. 5000 amount to Rs. 6050 in 2 years?
Correct Answer: Option C
Explanation:
5000(1+r)² = 6050 ⇒ (1+r)² = 1.21 ⇒ r = 10%.
5000(1+r)² = 6050 ⇒ (1+r)² = 1.21 ⇒ r = 10%.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum.
Correct Answer: Option D
Explanation:
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 6900 for 2 years at 10% is:
Correct Answer: Option D
Explanation:
D = 6900 × 0.01 = Rs. 69.
D = 6900 × 0.01 = Rs. 69.
This question belongs to:
Maths
Compound Interest
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