Find the compound interest on Rs. 1600 at 10% per annum for 2 years if the interest is compounded annually. MCQ with Answer and Explanation
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Question #1
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The compound interest on Rs. 3900 at 10% per annum for 2 years is:
Correct Answer: Option A
Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.
This question belongs to:
Maths
Compound Interest
Question #2
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What will be the compound interest on a sum of Rs. 25000 after 3 years at the rate of 12% per annum?
Correct Answer: Option D
Explanation:
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 14000 at 10% per annum for 2 years is:
Correct Answer: Option C
Explanation:
A = 14000 × (1.1)² = 14000 × 1.21 = 16940, CI = 16940 − 14000 = Rs. 2940.
A = 14000 × (1.1)² = 14000 × 1.21 = 16940, CI = 16940 − 14000 = Rs. 2940.
This question belongs to:
Maths
Compound Interest
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