In how many years will Rs. 2500 amount to Rs. 3025 at 10% per annum compound interest? MCQ with Answer and Explanation

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In how many years will Rs. 2500 amount to Rs. 3025 at 10% per annum compound interest?

A. 2 years

B. 2.5 years

C. 1.5 years

D. 3 years

Answer: Option A

Solution (By JKExamLibrary)

2500(1.1)^t = 3025 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9400

B. Rs. 9800

C. Rs. 9600

D. Rs. 9200

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Correct Answer: Option C

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the amount on Rs. 6250 at 8% per annum compound interest for 2 years.

A. Rs. 7320

B. Rs. 7300

C. Rs. 7350

D. Rs. 7290

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Correct Answer: Option D

Explanation:
A = 6250 × (1.08)² = 6250 × 1.1664 = 7290.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent per annum will Rs. 8000 amount to Rs. 9261 in 3 years, compound interest compounded annually?

A. 4%

B. 8%

C. 6%

D. 5%

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Correct Answer: Option D

Explanation:
Amount/Principal = 9261 / 8000 = (21 / 20)^3. Therefore, 1 + R/100 = 21/20 => R/100 = 1/20 => R = 5%.

This question belongs to: Maths Compound Interest

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