Find the principal that yields a compound interest of Rs. 410 in 2 years at 5% per annum. MCQ with Answer and Explanation
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Question #1
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If the compound interest on a sum for 2 years at 4% per annum is Rs. 102, the simple interest for the same period and rate is:
Correct Answer: Option D
Explanation:
CI = P[(1.04)² − 1] = P × 0.0816 = 102 ⇒ P = 1250. SI = 1250 × 4 × 2/100 = 100.
CI = P[(1.04)² − 1] = P × 0.0816 = 102 ⇒ P = 1250. SI = 1250 × 4 × 2/100 = 100.
This question belongs to:
Maths
Compound Interest
Question #2
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Find the amount on Rs. 12500 at 8% per annum compound interest for 2 years.
Correct Answer: Option D
Explanation:
A = 12500 × (1.08)² = 12500 × 1.1664 = 14580.
A = 12500 × (1.08)² = 12500 × 1.1664 = 14580.
This question belongs to:
Maths
Compound Interest
Question #3
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Find the compound interest on Rs. 15625 for 9 months at 16% per annum, compounded quarterly.
Correct Answer: Option A
Explanation:
Quarterly rate = 16 / 4 = 4%. Time = 9 months = 3 quarters. Amount = 15625 * (1 + 4/100)^3 = 15625 * (26/25)^3 = 15625 * (17576 / 15625) = Rs. 17576. Compound Interest = 17576 - 15625 = Rs. 1951.
Quarterly rate = 16 / 4 = 4%. Time = 9 months = 3 quarters. Amount = 15625 * (1 + 4/100)^3 = 15625 * (26/25)^3 = 15625 * (17576 / 15625) = Rs. 17576. Compound Interest = 17576 - 15625 = Rs. 1951.
This question belongs to:
Maths
Compound Interest
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