At what rate percent per annum will Rs. 5000 amount to Rs. 5832 in 2 years, compound interest compounded annually? MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
What is the compound interest on Rs. 60000 for 1 year at 12% per annum, compounded half-yearly?
Correct Answer: Option D
Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
A sum of money at compound interest doubles in 5 years. In how many years will it become 4 times?
Correct Answer: Option D
Explanation:
2²=4, so 5×2=10 years.
2²=4, so 5×2=10 years.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
The simple interest on a sum for 2 years at 15% is Rs. 600. The compound interest on the same sum for 2 years at 15% is:
Correct Answer: Option C
Explanation:
P = 60000/(15×2) = 2000. CI = 2000[(1.15)² − 1] = 2000 × 0.3225 = 645.
P = 60000/(15×2) = 2000. CI = 2000[(1.15)² − 1] = 2000 × 0.3225 = 645.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!