The compound interest on a sum for 2 years at 10% is Rs. 1260. The sum is: MCQ with Answer and Explanation
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Question #1
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The compound interest on a certain sum for 2 years at 4% per annum is Rs. 1632. Find the principal sum.
Correct Answer: Option A
Explanation:
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Given 8.16% of P = 1632 => P = 1632 / 0.0816 = Rs. 20000.
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Given 8.16% of P = 1632 => P = 1632 / 0.0816 = Rs. 20000.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the principal if the amount after 2 years at 10% compound interest is Rs. 12100?
Correct Answer: Option D
Explanation:
P = 12100 / (1.1)² = 12100 / 1.21 = 10000.
P = 12100 / (1.1)² = 12100 / 1.21 = 10000.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between simple interest and compound interest on a certain sum of money for 2 years at 9% per annum is Rs. 81. Find the sum.
Correct Answer: Option A
Explanation:
Difference for 2 years = P * (R/100)^2 => 81 = P * (9/100)^2 => 81 = P * (81 / 10000) => P = Rs. 10000.
Difference for 2 years = P * (R/100)^2 => 81 = P * (9/100)^2 => 81 = P * (81 / 10000) => P = Rs. 10000.
This question belongs to:
Maths
Compound Interest
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