At what rate percent compound interest will Rs. 8000 amount to Rs. 9680 in 2 years? MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
The compound interest on Rs. 10500 at 10% per annum for 2 years is:
Correct Answer: Option B
Explanation:
A = 10500 × 1.21 = 12705, CI = 12705 − 10500 = Rs. 2205.
A = 10500 × 1.21 = 12705, CI = 12705 − 10500 = Rs. 2205.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
In how many years will a sum of Rs. 1600 amount to Rs. 1852.20 at 5% compound interest?
Correct Answer: Option A
Explanation:
1600(1.05)^t = 1852.20 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.
1600(1.05)^t = 1852.20 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
The compound interest on a sum for 2 years at 10% is Rs. 420. The sum is:
Correct Answer: Option D
Explanation:
CI = P[(1.1)² − 1] = 0.21P = 420 ⇒ P = 2000.
CI = P[(1.1)² − 1] = 0.21P = 420 ⇒ P = 2000.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!