At what rate percent per annum will Rs. 12500 amount to Rs. 14580 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation
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Question #1
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In how many years will Rs. 4000 amount to Rs. 4410 at 5% per annum compound interest?
Correct Answer: Option D
Explanation:
4000(1.05)^t = 4410 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.
4000(1.05)^t = 4410 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.
This question belongs to:
Maths
Compound Interest
Question #2
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At what rate percent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest?
Correct Answer: Option C
Explanation:
Amount/Principal = 2500 / 2304 = (50 / 48)^2 = (25 / 24)^2. Thus, 1 + R/100 = 25/24 => R/100 = 1/24 => R = 100/24 = 4.16%. Correct option is B.
Amount/Principal = 2500 / 2304 = (50 / 48)^2 = (25 / 24)^2. Thus, 1 + R/100 = 25/24 => R/100 = 1/24 => R = 100/24 = 4.16%. Correct option is B.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between simple interest and compound interest on Rs. 18000 for 2 years is Rs. 405. Find the rate of interest per annum.
Correct Answer: Option D
Explanation:
Difference for 2 years = P * (R/100)^2 => 405 = 18000 * (R/100)^2 => 405 = 1.8 * R^2 => R^2 = 405 / 1.8 = 225 => R = 15%.
Difference for 2 years = P * (R/100)^2 => 405 = 18000 * (R/100)^2 => 405 = 1.8 * R^2 => R^2 = 405 / 1.8 = 225 => R = 15%.
This question belongs to:
Maths
Compound Interest
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