In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest? MCQ with Answer and Explanation

In how many years will Rs. 10000 amount to Rs. 13310 at 10% per annum compound interest?

A. 2.5 years

B. 3.5 years

C. 2 years

D. 3 years

Answer: Option D

10000(1.1)^t = 13310 ⇒ (1.1)^t = 1.331 = (1.1)³ ⇒ t = 3.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate percent per annum will Rs. 10000 amount to Rs. 12100 in 2 years, compound interest compounded annually?

A. 12%

B. 10%

C. 8%

D. 14%

Correct Answer: Option B

Explanation:
Amount/Principal = 12100 / 10000 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum becomes Rs. 10816 in 2 years at 4% compound interest. Find the sum.

A. Rs. 10500

B. Rs. 11000

C. Rs. 10000

D. Rs. 9500

Correct Answer: Option C

Explanation:
P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 15000 for 2 years at 10% is:

A. Rs. 140

B. Rs. 120

C. Rs. 150

D. Rs. 130

Correct Answer: Option C

Explanation:
D = 15000 × 0.01 = Rs. 150.

This question belongs to: Maths Compound Interest