Find the compound interest on Rs. 15625 for 9 months at 16% per annum, compounded quarterly. MCQ with Answer and Explanation
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Practice More Compound Interest Questions
Question #1
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A sum of money at compound interest becomes 5 times in 4 years. In how many years will it become 25 times?
Correct Answer: Option B
Explanation:
25 = 5², so 4 × 2 = 8 years.
25 = 5², so 4 × 2 = 8 years.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the compound interest on Rs. 10000 for 1 year at 20% per annum, compounded half-yearly?
Correct Answer: Option A
Explanation:
Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 10000 * (1 + 10/100)^2 = 10000 * 1.21 = Rs. 12100. Compound Interest = 12100 - 10000 = Rs. 2100.
Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 10000 * (1 + 10/100)^2 = 10000 * 1.21 = Rs. 12100. Compound Interest = 12100 - 10000 = Rs. 2100.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 18000 at 8% per annum for 2 years is:
Correct Answer: Option B
Explanation:
A = 18000 × 1.1664 = 20995.20, CI = 20995.20 − 18000 = Rs. 2995.20.
A = 18000 × 1.1664 = 20995.20, CI = 20995.20 − 18000 = Rs. 2995.20.
This question belongs to:
Maths
Compound Interest
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