The compound interest on a sum for 2 years at 10% is Rs. 420. The sum is: MCQ with Answer and Explanation
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Question #1
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At what rate percent per annum will Rs. 30000 amount to Rs. 36300 in 2 years, compound interest compounded annually?
Correct Answer: Option A
Explanation:
Amount/Principal = 36300 / 30000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
Amount/Principal = 36300 / 30000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.
This question belongs to:
Maths
Compound Interest
Question #2
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Find the compound interest on Rs. 9000 at 8% per annum for 2 years.
Correct Answer: Option D
Explanation:
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.
A = 9000 × (1.08)² = 9000 × 1.1664 = 10497.60, CI = 10497.60 − 9000 = Rs. 1497.60.
This question belongs to:
Maths
Compound Interest
Question #3
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What will be the compound interest on a sum of Rs. 25000 after 3 years at the rate of 12% per annum?
Correct Answer: Option D
Explanation:
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.
Amount = 25000 * (1 + 12/100)^3 = 25000 * (1.12)^3 = 25000 * 1.404928 = Rs. 35123.20. Compound Interest = 35123.20 - 25000 = Rs. 10123.20.
This question belongs to:
Maths
Compound Interest
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