In how many years will Rs. 5000 become Rs. 5618 at 6% compound interest? MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on a sum for 2 years at 12% is Rs. 72. The sum is:
Correct Answer: Option A
Explanation:
D = P × (0.12)² = P × 0.0144 = 72 ⇒ P = 5000.
D = P × (0.12)² = P × 0.0144 = 72 ⇒ P = 5000.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between compound interest and simple interest on Rs. 2000 for 3 years at 5% per annum is:
Correct Answer: Option C
Explanation:
CI − SI = P × (R/100)² × (3 + R/100) = 2000 × 0.0025 × 3.05 = 2000 × 0.007625 = Rs. 15.25.
CI − SI = P × (R/100)² × (3 + R/100) = 2000 × 0.0025 × 3.05 = 2000 × 0.007625 = Rs. 15.25.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 8300 at 10% per annum for 2 years is:
Correct Answer: Option D
Explanation:
A = 8300 × 1.21 = 10043, CI = 10043 − 8300 = Rs. 1743.
A = 8300 × 1.21 = 10043, CI = 10043 − 8300 = Rs. 1743.
This question belongs to:
Maths
Compound Interest
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