The compound interest on a sum for 2 years at 11% is Rs. 464.20. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 2 years at 11% is Rs. 464.20. The sum is:

A. Rs. 1800

B. Rs. 2100

C. Rs. 2000

D. Rs. 1900

Answer: Option C

CI = P[(1.11)² − 1] = P × 0.2321 = 464.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

If the simple interest on a sum for 2 years at 8% is Rs. 400, the compound interest on the same sum for 2 years at 8% is:

A. Rs. 432

B. Rs. 440

C. Rs. 424

D. Rs. 416

Correct Answer: Option D

Explanation:
P = SI × 100 / (8×2) = 40000/16 = 2500. CI = 2500[(1.08)² − 1] = 2500 × 0.1664 = Rs. 416.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the principal that yields a compound interest of Rs. 410 in 2 years at 5% per annum.

A. Rs. 4400

B. Rs. 4000

C. Rs. 4200

D. Rs. 3800

Correct Answer: Option B

Explanation:
CI = P[(1.05)² − 1] = P × 0.1025 = 410 ⇒ P = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

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

A. Rs. 9400

B. Rs. 9200

C. Rs. 9600

D. Rs. 9800

Correct Answer: Option C

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest