The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is:

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Rs. 1800

Answer: Option A

CI = P × 0.1881 = 376.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

At what rate percent compound interest will Rs. 8000 amount to Rs. 9680 in 2 years?

A. 12%

B. 10%

C. 9%

D. 8%

Correct Answer: Option B

Explanation:
8000(1+r)² = 9680 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 10000 for 2 years at 10% per annum is:

A. Rs. 110

B. Rs. 90

C. Rs. 120

D. Rs. 100

Correct Answer: Option D

Explanation:
Difference = P × (R/100)² = 10000 × 0.01 = Rs. 100.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between the simple interest and compound interest on a certain sum of money for 2 years at 12% per annum is Rs. 72. Find the sum.

A. Rs. 5000

B. Rs. 6000

C. Rs. 4500

D. Rs. 5500

Correct Answer: Option A

Explanation:
Difference for 2 years = P * (R/100)^2 => 72 = P * (12/100)^2 => 72 = P * (144 / 10000) => P = (72 * 10000) / 144 = 5000.

This question belongs to: Maths Compound Interest