Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years. MCQ with Answer and Explanation

Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years.

A. Rs. 16000

B. Rs. 15746.40

C. Rs. 15900

D. Rs. 15800

Answer: Option B

A = 13500 × (1.08)² = 13500 × 1.1664 = 15746.40.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money invested at compound interest doubles itself in 5 years. In how many years will it become 8 times of itself?

A. 15 years

B. 20 years

C. 10 years

D. 25 years

Correct Answer: Option A

Explanation:
The sum doubles (2^1) in 5 years. It will become 8 (2^3) times in 3 * 5 = 15 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 11000 at 10% per annum for 2 years is:

A. Rs. 2200

B. Rs. 2310

C. Rs. 2530

D. Rs. 2420

Correct Answer: Option B

Explanation:
A = 11000 × 1.21 = 13310, CI = 13310 − 11000 = Rs. 2310.

This question belongs to: Maths Compound Interest

Question #3 Report Error

What sum will amount to Rs. 2420 in 2 years at 10% per annum compound interest?

A. Rs. 1900

B. Rs. 1800

C. Rs. 2000

D. Rs. 2100

Correct Answer: Option C

Explanation:
P = 2420 / (1.1)² = 2420 / 1.21 = 2000.

This question belongs to: Maths Compound Interest