If Rs. 5000 becomes Rs. 5832 in 2 years at compound interest, the rate is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
Report Error
The effective annual rate for 24% per annum compounded half-yearly is:
Correct Answer: Option A
Explanation:
Half-yearly rate 12%, (1.12)² = 1.2544, effective = 25.44%.
Half-yearly rate 12%, (1.12)² = 1.2544, effective = 25.44%.
This question belongs to:
Maths
Compound Interest
Question #2
Report Error
The compound interest on a sum for 1 year at 10% compounded half-yearly is Rs. 102.50. The sum is:
Correct Answer: Option A
Explanation:
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.
A = P(1.05)² = 1.1025P, CI = 0.1025P = 102.50 ⇒ P = 1000.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
A sum of money at compound interest amounts to Rs. 6500 in 1 year and to Rs. 6760 in 2 years. Find the sum.
Correct Answer: Option A
Explanation:
Rate of interest = ((6760 - 6500) / 6500) * 100 = (260 / 6500) * 100 = 4%. Principal P = 6500 / (1 + 4/100) = 6500 / 1.04 = Rs. 6250.
Rate of interest = ((6760 - 6500) / 6500) * 100 = (260 / 6500) * 100 = 4%. Principal P = 6500 / (1 + 4/100) = 6500 / 1.04 = Rs. 6250.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!