Find the compound interest on Rs. 500 at 10% per annum for 2 years. MCQ with Answer and Explanation

Find the compound interest on Rs. 500 at 10% per annum for 2 years.

A. Rs. 115

B. Rs. 105

C. Rs. 100

D. Rs. 110

Answer: Option B

A = 500 × 1.21 = 605, CI = 605 − 500 = Rs. 105.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money amounts to Rs. 14400 in 2 years and Rs. 17280 in 3 years at compound interest. Find the sum.

A. Rs. 10000

B. Rs. 9000

C. Rs. 9500

D. Rs. 10500

Correct Answer: Option A

Explanation:
Rate = (17280/14400 − 1) × 100 = 20%. P = 14400 / (1.2)² = 14400 / 1.44 = 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

In how many years will a sum of Rs. 1600 amount to Rs. 1852.20 at 5% compound interest?

A. 3 years

B. 2.5 years

C. 2 years

D. 3.5 years

Correct Answer: Option A

Explanation:
1600(1.05)^t = 1852.20 ⇒ (1.05)^t = 1.157625 = (1.05)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

Question #3 Report Error

What sum will amount to Rs. 1323 in 2 years at 5% compound interest?

A. Rs. 1150

B. Rs. 1250

C. Rs. 1200

D. Rs. 1300

Correct Answer: Option C

Explanation:
P = 1323 / 1.1025 = 1200.

This question belongs to: Maths Compound Interest