Find the amount on Rs. 12500 at 8% per annum compound interest for 2 years. MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
A sum of money placed at compound interest triples itself in 5 years. In how many years will it become 9 times of itself?
Correct Answer: Option D
Explanation:
The sum becomes 3^1 times in 5 years. It will become 9 (3^2) times in 2 * 5 = 10 years.
The sum becomes 3^1 times in 5 years. It will become 9 (3^2) times in 2 * 5 = 10 years.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
The difference between compound interest and simple interest on Rs. 1500 for 2 years at 10% per annum is:
Correct Answer: Option B
Explanation:
Difference = P × (R/100)² = 1500 × (0.1)² = 1500 × 0.01 = Rs. 15.
Difference = P × (R/100)² = 1500 × (0.1)² = 1500 × 0.01 = Rs. 15.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
A sum of money placed at compound interest becomes double of itself in 10 years. In how many years will it become 8 times of itself?
Correct Answer: Option C
Explanation:
The sum becomes 2^1 times in 10 years. It will become 8 (2^3) times in 3 * 10 = 30 years.
The sum becomes 2^1 times in 10 years. It will become 8 (2^3) times in 3 * 10 = 30 years.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!