Find the amount of Rs. 5000 at compound interest for 3 years at 4% per annum. MCQ with Answer and Explanation

Find the amount of Rs. 5000 at compound interest for 3 years at 4% per annum.

A. Rs. 5648

B. Rs. 5624.32

C. Rs. 5600

D. Rs. 5660

Answer: Option B

A = 5000 × (1.04)³ = 5000 × 1.124864 = 5624.32.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

A sum of money becomes 1.44 times in 2 years at compound interest. The rate of interest is:

A. 22%

B. 24%

C. 20%

D. 18%

Correct Answer: Option C

Explanation:
(1+r)² = 1.44 ⇒ 1+r = 1.2 ⇒ r = 20%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money at compound interest amounts to Rs. 10648 in 3 years and Rs. 11712.80 in 4 years. Find the sum.

A. Rs. 8000

B. Rs. 8500

C. Rs. 7500

D. Rs. 7000

Correct Answer: Option A

Explanation:
Rate = (11712.80/10648 − 1) × 100 = 10%. P = 10648 / 1.331 = 8000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money amounts to Rs. 10816 in 2 years and Rs. 11248.64 in 3 years at compound interest. Find the sum.

A. Rs. 9000

B. Rs. 9500

C. Rs. 10500

D. Rs. 10000

Correct Answer: Option D

Explanation:
Rate = (11248.64/10816 − 1) × 100 = 4%. P = 10816 / (1.04)² = 10000.

This question belongs to: Maths Compound Interest