Find the compound interest on Rs. 10000 for 2 years at 10% per annum, compounded annually. MCQ with Answer and Explanation

Find the compound interest on Rs. 10000 for 2 years at 10% per annum, compounded annually.

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Rs. 2100

Answer: Option D

Amount = 10000 * (1 + 10/100)^2 = 10000 * 1.21 = Rs. 12100. Compound Interest = Amount - Principal = 12100 - 10000 = Rs. 2100.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate percent per annum will Rs. 40000 amount to Rs. 48400 in 2 years, compound interest compounded annually?

A. 10%

B. 8%

C. 14%

D. 12%

Correct Answer: Option A

Explanation:
Amount/Principal = 48400 / 40000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on a sum for 2 years at 10% is Rs. 60. The sum is:

A. Rs. 6000

B. Rs. 5000

C. Rs. 5500

D. Rs. 6500

Correct Answer: Option A

Explanation:
D = P × 0.01 = 60 ⇒ P = 6000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 3900 at 10% per annum for 2 years is:

A. Rs. 780

B. Rs. 858

C. Rs. 897

D. Rs. 819

Correct Answer: Option D

Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.

This question belongs to: Maths Compound Interest